Zacks Investment Research downgraded shares of Lannett (NYSE:LCI) from a strong-buy rating to a hold rating in a report published on Tuesday, February 13th.
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. “
Other equities research analysts also recently issued reports about the stock. ValuEngine raised shares of Lannett from a hold rating to a buy rating in a research note on Saturday, November 25th. Roth Capital set a $25.00 target price on shares of Lannett and gave the stock a buy rating in a research note on Wednesday, February 7th. Oppenheimer reaffirmed a hold rating on shares of Lannett in a research note on Wednesday, February 7th. BMO Capital Markets cut their target price on shares of Lannett from $22.00 to $21.00 and set a market perform rating on the stock in a research note on Thursday, February 8th. Finally, Goldman Sachs Group initiated coverage on shares of Lannett in a research note on Wednesday, January 24th. They set a neutral rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Lannett has an average rating of Hold and an average price target of $20.83.
Shares of Lannett (NYSE:LCI) opened at $16.30 on Tuesday. The stock has a market cap of $645.23, a P/E ratio of 12.83, a PEG ratio of 1.09 and a beta of 2.51. Lannett has a 52 week low of $14.90 and a 52 week high of $30.35. The company has a quick ratio of 1.77, a current ratio of 2.32 and a debt-to-equity ratio of 1.38.
Lannett (NYSE:LCI) last released its quarterly earnings results on Wednesday, February 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.20. The business had revenue of $184.31 million for the quarter, compared to the consensus estimate of $190.92 million. Lannett had a net margin of 7.44% and a return on equity of 18.85%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. sell-side analysts anticipate that Lannett will post 3.12 earnings per share for the current fiscal year.
In other Lannett news, major shareholder David Farber sold 9,816 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $30.05, for a total value of $294,970.80. Following the sale, the insider now directly owns 4,190,169 shares of the company’s stock, valued at approximately $125,914,578.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Arthur P. Bedrosian sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 636,616 shares in the company, valued at $17,029,478. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,578 shares of company stock worth $2,172,757. 14.72% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Frontier Capital Management Co. LLC purchased a new stake in shares of Lannett in the 4th quarter valued at approximately $21,367,000. Voya Investment Management LLC increased its position in shares of Lannett by 82.5% in the 2nd quarter. Voya Investment Management LLC now owns 46,757 shares of the company’s stock valued at $954,000 after purchasing an additional 21,131 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Lannett by 6.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,632 shares of the company’s stock valued at $3,135,000 after purchasing an additional 9,005 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Lannett in the 4th quarter valued at approximately $1,046,000. Finally, SG Americas Securities LLC increased its position in shares of Lannett by 53.2% in the 3rd quarter. SG Americas Securities LLC now owns 70,667 shares of the company’s stock valued at $1,304,000 after purchasing an additional 24,544 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.
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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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