ZPR Investment Management lowered its stake in shares of Lannett Co Inc (NYSE:LCI) by 18.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,905 shares of the company’s stock after selling 35,055 shares during the period. Lannett Co accounts for about 5.0% of ZPR Investment Management’s investment portfolio, making the stock its 3rd largest position. ZPR Investment Management owned about 0.43% of Lannett Co worth $3,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Lannett Co during the second quarter valued at approximately $1,824,000. Swiss National Bank raised its position in shares of Lannett Co by 3.8% during the first quarter. Swiss National Bank now owns 48,800 shares of the company’s stock valued at $1,091,000 after buying an additional 1,800 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Lannett Co during the first quarter valued at approximately $287,000. Oppenheimer & Co. Inc. bought a new stake in shares of Lannett Co during the second quarter valued at approximately $271,000. Finally, UBS Group AG raised its position in shares of Lannett Co by 11.1% during the first quarter. UBS Group AG now owns 23,234 shares of the company’s stock valued at $519,000 after buying an additional 2,326 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.
Several equities research analysts recently weighed in on LCI shares. ValuEngine upgraded shares of Lannett Co from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut shares of Lannett Co from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a research report on Wednesday, August 23rd. Deutsche Bank AG reduced their price target on shares of Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a research report 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.80.
Lannett Co Inc (NYSE:LCI) traded down 0.756% during mid-day trading on Wednesday, hitting $22.975. The company had a trading volume of 502,852 shares. The company has a 50-day moving average price of $18.58 and a 200 day moving average price of $20.17. Lannett Co Inc has a 52-week low of $14.90 and a 52-week high of $27.90. The company’s market capitalization is $856.60 million.
Lannett Co (NYSE:LCI) last issued its earnings results on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The company had revenue of $139.10 million during the quarter, compared to the consensus estimate of $139.01 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The company’s revenue was down 17.6% compared to the same quarter last year. On average, analysts forecast that Lannett Co Inc will post $2.60 EPS for the current fiscal year.
Lannett Co 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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