Russell Investments Group Ltd. Reduces Stake in Lannett Company, Inc. (NYSE:LCI)

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Russell Investments Group Ltd. decreased its stake in shares of Lannett Company, Inc. (NYSE:LCI) by 59.9% during the third quarter, HoldingsChannel.com reports. The firm owned 21,500 shares of the company’s stock after selling 32,095 shares during the period. Russell Investments Group Ltd.’s holdings in Lannett were worth $240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Glen Harbor Capital Management LLC purchased a new stake in shares of Lannett in the 2nd quarter valued at about $42,000. Aperio Group LLC purchased a new stake in shares of Lannett in the 2nd quarter valued at about $49,000. Tyers Asset Management LLC purchased a new stake in shares of Lannett in the 2nd quarter valued at about $58,000. Zacks Investment Management purchased a new stake in shares of Lannett in the 2nd quarter valued at about $65,000. Finally, Riverhead Capital Management LLC purchased a new stake in shares of Lannett in the 2nd quarter valued at about $66,000.

NYSE:LCI opened at $8.74 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 2.43 and a debt-to-equity ratio of 2.07. The stock has a market cap of $355.76 million, a P/E ratio of 3.72 and a beta of 2.16. The business’s 50-day moving average price is $10.44 and its two-hundred day moving average price is $8.49. Lannett Company, Inc. has a twelve month low of $4.33 and a twelve month high of $15.52.

Lannett (NYSE:LCI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The firm had revenue of $127.30 million for the quarter, compared to analyst estimates of $120.78 million. Lannett had a return on equity of 25.40% and a net margin of 0.52%. The company’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, equities research analysts expect that Lannett Company, Inc. will post 1.19 EPS for the current fiscal year.

Several analysts have weighed in on the company. ValuEngine raised Lannett from a “sell” rating to a “hold” rating in a report on Friday, November 1st. SunTrust Banks raised their price target on Lannett from $10.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, September 18th. Roth Capital reaffirmed a “neutral” rating on shares of Lannett in a report on Wednesday, August 28th. Finally, Zacks Investment Research cut Lannett from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Lannett currently has a consensus rating of “Hold” and a consensus target price of $11.63.

In other news, Director Albert Paonessa III sold 16,195 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $12.54, for a total transaction of $203,085.30. Following the transaction, the director now directly owns 45,945 shares in the company, valued at approximately $576,150.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.57% of the stock is currently owned by corporate insiders.

Lannett Profile

Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.

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Institutional Ownership by Quarter for Lannett (NYSE:LCI)

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