Lannett Co. (NYSE:LCI) was downgraded by equities research analysts at TheStreet to a “hold” rating in a report issued on Tuesday.
LCI has been the subject of a number of other reports. Raymond James Financial Inc. raised their price target on Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 24th. Zacks Investment Research raised Lannett from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, July 13th. Deutsche Bank AG initiated coverage on Lannett in a research note on Wednesday, June 29th. They issued a “hold” rating and a $26.00 target price for the company. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $31.36.
Shares of Lannett (NYSE:LCI) traded down 0.577% during midday trading on Tuesday, reaching $21.525. The company had a trading volume of 307,852 shares. The company’s 50-day moving average is $29.40 and its 200-day moving average is $25.95. Lannett has a 52-week low of $16.91 and a 52-week high of $49.44. The firm has a market cap of $794.10 million, a P/E ratio of 17.937 and a beta of 1.93.
Lannett (NYSE:LCI) last released its quarterly earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ 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 firm earned $168.90 million during the quarter, compared to analysts’ expectations of $161.55 million. During the same period last year, the firm posted $0.91 EPS. The business’s revenue was up 70.1% on a year-over-year basis. Equities research analysts expect that Lannett will post $3.39 EPS for the current fiscal year.
In related news, insider G. Michael Landis sold 4,334 shares of Lannett stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $32.30, for a total transaction of $139,988.20. Following the completion of the sale, the insider now directly owns 6,461 shares of the company’s stock, valued at $208,690.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James M. Maher sold 1,478 shares of Lannett stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $33.91, for a total value of $50,118.98. Following the sale, the director now directly owns 20,320 shares of the company’s stock, valued at $689,051.20. The disclosure for this sale can be found here. Corporate insiders own 15.10% of the company’s stock.
Several large investors have recently made changes to their positions in LCI. Koshinski Asset Management Inc. bought a new stake in shares of Lannett during the third quarter worth approximately $267,000. Hollencrest Securities LLC acquired a new position in Lannett during the third quarter valued at $412,000. Creative Planning raised its position in Lannett by 37.6% in the third quarter. Creative Planning now owns 20,553 shares of the company’s stock valued at $546,000 after buying an additional 5,613 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Lannett during the third quarter valued at $203,000. Finally, Telemus Capital LLC raised its position in Lannett by 10.7% in the third quarter. Telemus Capital LLC now owns 6,482,126 shares of the company’s stock valued at $172,230,000 after buying an additional 627,816 shares in the last quarter. 78.88% of the stock is 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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