Lannett Co Inc (NYSE:LCI) had its target price raised by BMO Capital Markets from $20.00 to $22.00 in a research note published on Monday morning. The brokerage currently has a market perform rating on the stock.
LCI has been the topic of several other research reports. ValuEngine raised shares of Lannett Co from a hold rating to a buy rating in a research note on Monday, October 2nd. BidaskClub lowered shares of Lannett Co from a buy rating to a hold rating in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Lannett Co in a research note on Wednesday, August 23rd. Deutsche Bank AG reduced their price objective on shares of Lannett Co from $23.00 to $19.00 and set a hold rating on the stock in a research note on Monday, August 14th. Finally, Zacks Investment Research lowered shares of Lannett Co from a buy rating to a hold rating in a research note on Tuesday, August 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Lannett Co has an average rating of Hold and an average price target of $22.80.
Shares of Lannett Co (LCI) remained flat at $$23.95 during trading hours on Monday. The stock had a trading volume of 486,900 shares, compared to its average volume of 792,909. Lannett Co has a 52 week low of $14.90 and a 52 week high of $27.90. The company has a current ratio of 2.52, a quick ratio of 1.90 and a debt-to-equity ratio of 1.44. The stock has a market cap of $896.48, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 2.08 and a beta of 2.73.
Lannett Co (NYSE:LCI) last issued its earnings results on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. Lannett Co 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 firm earned $0.77 EPS. analysts predict that Lannett Co will post 2.87 earnings per share for the current fiscal year.
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In other Lannett Co news, CEO Arthur P. Bedrosian sold 7,422 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $25.20, for a total transaction of $187,034.40. Following the sale, the chief executive officer now directly owns 679,001 shares in the company, valued at approximately $17,110,825.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David Farber sold 10,000 shares of the firm’s 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 sale, the insider now owns 4,211,069 shares in the company, valued at $105,403,057.07. The disclosure for this sale can be found here. Company insiders own 15.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue raised its holdings in shares of Lannett Co by 77.6% in the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after purchasing an additional 2,513 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Lannett Co by 4.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after purchasing an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Lannett Co by 49.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after purchasing an additional 3,061 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Lannett Co in the third quarter valued at approximately $188,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Lannett Co in the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 71.58% of the company’s stock.
About Lannett Co
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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