Lannett Co. (NYSE:LCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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. “
Other institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its position in shares of Lannett by 2.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 38,730 shares of the company’s stock valued at $1,554,000 after buying an additional 936 shares during the period. Nationwide Fund Advisors raised its position in shares of Lannett by 54.3% in the fourth quarter. Nationwide Fund Advisors now owns 83,580 shares of the company’s stock valued at $3,353,000 after buying an additional 29,398 shares during the period. California State Teachers Retirement System raised its position in shares of Lannett by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 49,119 shares of the company’s stock valued at $1,971,000 after buying an additional 775 shares during the period. Rhumbline Advisers raised its position in shares of Lannett by 5.2% in the fourth quarter. Rhumbline Advisers now owns 34,532 shares of the company’s stock valued at $1,385,000 after buying an additional 1,710 shares during the period. Finally, TD Asset Management Inc. purchased a new position in shares of Lannett during the fourth quarter valued at $1,416,000.
Shares of Lannett (NYSE:LCI) traded up 2.79% during trading on Wednesday, reaching $31.30. The company’s stock had a trading volume of 438,356 shares. The stock has a 50-day moving average of $26.31 and a 200-day moving average of $23.91. The stock has a market cap of $1.15 billion and a P/E ratio of 15.58. Lannett has a 52-week low of $16.91 and a 52-week high of $60.52.
Lannett (NYSE:LCI) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.63 by $0.12. During the same period last year, the company earned $0.97 earnings per share. The company earned $163.70 million during the quarter, compared to analysts’ expectations of $160.49 million. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year. Analysts predict that Lannett will post $3.27 earnings per share for the current fiscal year.
In other Lannett news, VP Robert Ehlinger sold 37,141 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.06, for a total transaction of $930,753.46. Following the completion of the transaction, the vice president now directly owns 40,104 shares of the company’s stock, valued at $1,005,006.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company’s products include Levothyroxine Sodium tablets, Digoxin tablets, Butalbital products, Ursodiol capsules and pain management products. Levothyroxine Sodium tablets are produced and marketed with around 12 varying potencies.
