Shares of Lannett Company, Inc. (NYSE:LCI) have earned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.50.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Lannett from a “buy” rating to a “hold” rating in a research note on Wednesday, December 13th. Oppenheimer reaffirmed a “hold” rating on shares of Lannett in a research note on Monday, December 11th. ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. Finally, BMO Capital Markets upped their price objective on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, November 13th.
Lannett (LCI) traded down $1.10 during mid-day trading on Monday, reaching $23.65. 1,022,693 shares of the company’s stock were exchanged, compared to its average volume of 593,445. The company has a quick ratio of 1.90, a current ratio of 2.52 and a debt-to-equity ratio of 1.44. Lannett has a 52 week low of $14.90 and a 52 week high of $30.35. The stock has a market capitalization of $891.60, a price-to-earnings ratio of 21.12, a PEG ratio of 1.60 and a beta of 2.85.
Lannett (NYSE:LCI) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The company had revenue of $155.00 million during the quarter, compared to analyst estimates of $153.62 million. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 4.1% on a year-over-year basis. analysts forecast that Lannett will post 3.04 EPS for the current year.
In other news, CEO Arthur P. Bedrosian sold 42,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total value of $1,071,000.00. Following the completion of the sale, the chief executive officer now directly owns 636,616 shares of the company’s stock, valued at $16,233,708. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David Farber sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $25.03, for a total transaction of $250,300.00. Following the completion of the sale, the insider now directly owns 4,211,069 shares of the company’s stock, valued at $105,403,057.07. The disclosure for this sale can be found here. Insiders sold 140,000 shares of company stock valued at $3,681,091 over the last three months. 14.72% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in Lannett by 49.6% during the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after acquiring an additional 3,061 shares in the last quarter. Neuberger Berman Group LLC bought a new position in Lannett during the third quarter valued at approximately $188,000. Municipal Employees Retirement System of Michigan raised its position in Lannett by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 11,040 shares of the company’s stock valued at $204,000 after acquiring an additional 4,100 shares in the last quarter. Hartford Investment Management Co. bought a new position in Lannett during the third quarter valued at approximately $212,000. Finally, Oppenheimer & Co. Inc. bought a new position in Lannett during the second quarter valued at approximately $271,000. 97.17% of the stock is currently owned by hedge funds and other institutional investors.
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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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