Lannett Company, Inc. (NYSE:LCI) – Analysts at Oppenheimer cut their Q3 2018 earnings per share estimates for shares of Lannett in a note issued to investors on Wednesday. Oppenheimer analyst D. Archila now anticipates that the company will post earnings per share of $0.76 for the quarter, down from their prior estimate of $0.95. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Lannett’s Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $3.12 EPS, FY2019 earnings at $3.08 EPS, FY2020 earnings at $2.84 EPS and FY2021 earnings at $2.91 EPS.

Lannett (NYSE:LCI) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.20. The firm had revenue of $184.31 million for the quarter, compared to analysts’ expectations of $190.92 million. Lannett had a return on equity of 18.85% and a net margin of 7.44%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Lannett from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Monday, December 11th. BMO Capital Markets increased their price target on Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, November 13th. ValuEngine upgraded Lannett from a “hold” rating to a “buy” rating in a report on Saturday, November 25th. Finally, Goldman Sachs Group initiated coverage on Lannett in a report on Wednesday, January 24th. They issued a “neutral” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $20.83.

Lannett (NYSE LCI) opened at $17.95 on Monday. The stock has a market capitalization of $676.71, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.13 and a beta of 2.51. Lannett has a twelve month low of $14.90 and a twelve month high of $30.35. The company has a current ratio of 2.32, a quick ratio of 1.90 and a debt-to-equity ratio of 1.38.

Several institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Lannett by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after purchasing an additional 297 shares in the last quarter. Royal Bank of Canada raised its position in Lannett by 10.6% in the 2nd quarter. Royal Bank of Canada now owns 18,374 shares of the company’s stock valued at $374,000 after buying an additional 1,756 shares during the last quarter. Nationwide Fund Advisors raised its position in Lannett by 7.3% in the 2nd quarter. Nationwide Fund Advisors now owns 26,349 shares of the company’s stock valued at $538,000 after buying an additional 1,800 shares during the last quarter. Alps Advisors Inc. raised its position in Lannett by 8.1% in the 3rd quarter. Alps Advisors Inc. now owns 38,604 shares of the company’s stock valued at $712,000 after buying an additional 2,906 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in Lannett by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 81,146 shares of the company’s stock valued at $1,497,000 after buying an additional 3,046 shares during the last quarter. Institutional investors own 99.69% of the company’s stock.

In related news, major shareholder David Farber sold 10,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the transaction, the insider now directly owns 4,171,269 shares in the company, valued at approximately $104,323,437.69. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Arthur P. Bedrosian sold 50,000 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $26.75, for a total value of $1,337,500.00. Following the completion of the transaction, the chief executive officer now owns 636,616 shares in the company, valued at $17,029,478. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,578 shares of company stock worth $3,243,757. 14.72% of the stock is owned by company insiders.

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About Lannett

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.

Earnings History and Estimates for Lannett (NYSE:LCI)

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