Lannett Co Inc (LCI) CEO Arthur P. Bedrosian Sells 7,422 Shares
Lannett Co Inc (NYSE:LCI) CEO Arthur P. Bedrosian sold 7,422 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $25.20, for a total transaction of $187,034.40. Following the completion of the sale, the chief executive officer now owns 679,001 shares in the company, valued at $17,110,825.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Lannett Co Inc (NYSE LCI) traded down $1.15 during mid-day trading on Friday, reaching $23.55. 714,663 shares of the company’s stock traded hands, compared to its average volume of 798,743. The company has a quick ratio of 2.09, a current ratio of 2.52 and a debt-to-equity ratio of 1.44. The firm has a market cap of $949.22, a P/E ratio of 9.37, a P/E/G ratio of 2.24 and a beta of 2.73. Lannett Co Inc has a 52-week low of $14.90 and a 52-week high of $27.90.
Lannett Co (NYSE:LCI) last announced its earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The firm had revenue of $155.00 million for the quarter, compared to the consensus estimate of $153.62 million. Lannett Co had a net margin of 6.67% and a return on equity of 18.23%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. sell-side analysts forecast that Lannett Co Inc will post 2.82 earnings per share for the current year.
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A number of brokerages recently weighed in on LCI. ValuEngine upgraded shares of Lannett Co from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Lannett Co from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Friday. BidaskClub downgraded shares of Lannett Co from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG dropped their target price on shares of Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Lannett Co has an average rating of “Hold” and a consensus price target of $22.40.
A number of hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Lannett Co by 8.1% during the 3rd quarter. Wells Fargo & Company MN now owns 41,567 shares of the company’s stock worth $767,000 after buying an additional 3,113 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Lannett Co by 296.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 306,106 shares of the company’s stock worth $5,678,000 after acquiring an additional 228,947 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Lannett Co by 20.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,010,232 shares of the company’s stock worth $18,639,000 after acquiring an additional 171,751 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Lannett Co by 9.3% during the 3rd quarter. Macquarie Group Ltd. now owns 48,300 shares of the company’s stock worth $891,000 after acquiring an additional 4,100 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Lannett Co by 53.2% during the 3rd quarter. SG Americas Securities LLC now owns 70,667 shares of the company’s stock worth $1,304,000 after acquiring an additional 24,544 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.
Lannett Co Company Profile
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
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