Zacks Investment Research cut shares of Lannett (NYSE:LCI) from a buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Lannett Company manufactures and distributes high quality affordable generic medications that are the therapeutic equivalent of the brand-name pharmaceuticals. Their portfolio consists of numerous products across a wide range of therapeutic areas. Lannett believes that their ability to select viable products for development, efficiently develop such products, including obtaining any applicable regulatory approvals, vertically integrate themselves into certain specialty markets and achieve economies in production are all critical for their success in the generic pharmaceutical industry in which they operate. Lannett Company, Inc., continues to dedicate significant capital toward developing new products as they believe their success is linked to their ability to continually introduce new generic products into the marketplace. “
LCI has been the subject of a number of other research reports. ValuEngine raised shares of Lannett from a hold rating to a buy rating in a research note on Monday, October 2nd. Oppenheimer reissued a hold rating on shares of Lannett in a research note on Wednesday, August 23rd. BMO Capital Markets reissued a market perform rating and set a $20.00 target price (down previously from $26.00) on shares of Lannett in a research note on Thursday, August 24th. Finally, Roth Capital set a $27.00 target price on shares of Lannett and gave the company a buy rating in a research note on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $23.60.
Lannett (NYSE:LCI) remained flat at $$28.90 during midday trading on Wednesday. The company had a trading volume of 1,104,000 shares, compared to its average volume of 797,927. The stock has a market capitalization of $1,089.52, a PE ratio of 10.74, a PEG ratio of 2.38 and a beta of 2.85. Lannett has a 12-month low of $14.90 and a 12-month high of $30.35. The company has a current ratio of 2.52, a quick ratio of 1.90 and a debt-to-equity ratio of 1.44.
Lannett (NYSE:LCI) last issued its earnings results on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $155.00 million during the quarter, compared to analyst estimates of $153.62 million. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. research analysts expect that Lannett will post 3.04 earnings per share for the current year.
In other Lannett news, CEO Arthur P. Bedrosian sold 50,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $26.75, for a total transaction of $1,337,500.00. Following the completion of the transaction, the chief executive officer now owns 636,616 shares of the company’s stock, valued at approximately $17,029,478. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Arthur P. Bedrosian sold 7,422 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total transaction of $187,034.40. Following the transaction, the chief executive officer now directly owns 679,001 shares of the company’s stock, valued at approximately $17,110,825.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,816 shares of company stock valued at $3,425,471. 14.72% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. KBC Group NV bought a new position in shares of Lannett during the 2nd quarter worth about $1,824,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Lannett by 6.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,632 shares of the company’s stock worth $3,135,000 after purchasing an additional 9,005 shares during the period. Voya Investment Management LLC increased its holdings in shares of Lannett by 82.5% during the 2nd quarter. Voya Investment Management LLC now owns 46,757 shares of the company’s stock worth $954,000 after purchasing an additional 21,131 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Lannett during the 2nd quarter worth about $271,000. Finally, Tudor Investment Corp ET AL increased its stake in Lannett by 70.2% in the second quarter. Tudor Investment Corp ET AL now owns 25,188 shares of the company’s stock valued at $514,000 after acquiring an additional 10,388 shares during the period. Institutional investors own 97.27% of the company’s stock.
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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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