Lannett Company, Inc. (NYSE:LCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Lannett, Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition, the Company contract manufactures and private labels pharmaceutical products for other companies. “
Several other equities research analysts have also recently weighed in on the stock. Roth Capital set a $28.00 price target on shares of Lannett Company and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett Company in a research report on Tuesday, December 6th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $30.25.
Lannett Company (NYSE:LCI) opened at 22.30 on Friday. The company’s market capitalization is $829.31 million. The firm has a 50-day moving average of $21.79 and a 200 day moving average of $23.16. Lannett Company has a one year low of $16.75 and a one year high of $39.99.
Lannett Company (NYSE:LCI) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.08. Lannett Company had a negative net margin of 3.48% and a positive return on equity of 21.95%. The company had revenue of $171 million for the quarter, compared to analysts’ expectations of $169.04 million. During the same quarter in the previous year, the business posted $0.95 earnings per share. Lannett Company’s quarterly revenue was up 34.5% on a year-over-year basis. Equities research analysts predict that Lannett Company will post $3.44 earnings per share for the current fiscal year.
In other Lannett Company news, CEO Arthur P. Bedrosian purchased 10,000 shares of Lannett Company stock in a transaction that occurred on Monday, February 6th. The shares were bought at an average price of $20.00 per share, for a total transaction of $200,000.00. Following the completion of the transaction, the chief executive officer now owns 688,909 shares of the company’s stock, valued at approximately $13,778,180. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.04% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Lannett Company during the fourth quarter valued at $9,295,000. Westwood Holdings Group Inc. boosted its stake in shares of Lannett Company by 31.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 148,492 shares of the company’s stock valued at $3,274,000 after buying an additional 35,423 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Lannett Company by 4.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,570 shares of the company’s stock valued at $343,000 after buying an additional 620 shares in the last quarter. Narus Financial Partners LLC acquired a new stake in shares of Lannett Company during the fourth quarter valued at $286,000. Finally, Bowling Portfolio Management LLC acquired a new stake in shares of Lannett Company during the fourth quarter valued at $420,000. Institutional investors own 80.82% of the company’s stock.
Lannett Company 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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