Shares of Lannett Co. (NYSE:LCI) have earned a consensus rating of “Hold” from the nine analysts that are presently covering the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.92.
Several brokerages recently issued reports on LCI. TheStreet upgraded Lannett from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Lannett from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research note on Thursday, August 25th. Raymond James Financial Inc. upped their price objective on Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 24th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th. Finally, Deutsche Bank AG assumed coverage on Lannett in a research note on Wednesday, June 29th. They issued a “hold” rating and a $26.00 price objective for the company.
Shares of Lannett (NYSE:LCI) opened at 26.74 on Tuesday. The stock’s 50 day moving average price is $31.00 and its 200-day moving average price is $25.59. The firm has a market cap of $986.49 million, a P/E ratio of 22.28 and a beta of 1.93. Lannett has a 12-month low of $16.91 and a 12-month high of $49.44.
Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. Lannett had a return on equity of 23.75% and a net margin of 7.91%. The business earned $168.90 million during the quarter, compared to the consensus estimate of $161.55 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Lannett’s revenue was up 70.1% compared to the same quarter last year. On average, analysts predict that Lannett will post $3.39 earnings per share for the current fiscal year.
In other news, Director James M. Maher sold 1,478 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $33.91, for a total transaction of $50,118.98. Following the completion of the transaction, the director now owns 20,320 shares in the company, valued at approximately $689,051.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider G. Michael Landis sold 4,334 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $32.30, for a total value of $139,988.20. Following the transaction, the insider now owns 6,461 shares of the company’s stock, valued at approximately $208,690.30. The disclosure for this sale can be found here. Insiders own 15.10% of the company’s stock.
Hedge funds have recently modified their holdings of the company. ZPR Investment Management boosted its stake in shares of Lannett by 15.1% in the first quarter. ZPR Investment Management now owns 272,370 shares of the company’s stock worth $4,884,000 after buying an additional 35,645 shares during the period. Bellevue Group AG bought a new stake in shares of Lannett during the first quarter worth about $1,933,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Lannett during the first quarter worth about $2,220,000. Legal & General Group Plc boosted its stake in shares of Lannett by 4.4% in the first quarter. Legal & General Group Plc now owns 6,620 shares of the company’s stock worth $117,000 after buying an additional 282 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Lannett during the first quarter worth about $385,000. 77.22% of the stock is currently owned by institutional investors and hedge funds.
Lannett 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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