Lannett Co. (LCI) Shares Down 0.4%
Lannett Co. (NYSE:LCI) shares fell 0.4% on Friday . The stock traded as low as $24.36 and last traded at $24.59, with a volume of 597,058 shares changing hands. The stock had previously closed at $24.69.
Several brokerages have recently weighed in on LCI. Zacks Investment Research cut shares of Lannett from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank AG began coverage on shares of Lannett in a research report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target on the stock. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Lannett in a research report on Saturday, May 14th. Susquehanna reduced their price objective on shares of Lannett from $37.00 to $30.00 in a report on Friday, March 25th. Finally, Craig Hallum reduced their price objective on shares of Lannett to $35.00 and set a “buy” rating on the stock in a report on Friday, March 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Lannett has a consensus rating of “Hold” and a consensus target price of $29.93.
The company has a market cap of $903.61 million and a PE ratio of 12.24. The stock’s 50 day moving average is $24.29 and its 200 day moving average is $24.77.
Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.12. The firm earned $163.70 million during the quarter, compared to analysts’ expectations of $160.49 million. During the same quarter in the prior year, the business earned $0.97 EPS. The company’s quarterly revenue was up 64.7% compared to the same quarter last year. Equities research analysts predict that Lannett Co. will post $3.27 earnings per share for the current year.
In other news, VP Robert Ehlinger sold 62,859 shares of the firm’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $25.40, for a total value of $1,596,618.60. Following the completion of the transaction, the vice president now owns 56,268 shares in the company, valued at $1,429,207.20. The sale was disclosed in a document filed with the SEC, which is available at this link.
Several hedge funds and institutional investors have recently made changes to their positions in LCI. Russell Frank Co boosted its position in shares of Lannett by 18.3% in the fourth quarter. Russell Frank Co now owns 226,393 shares of the company’s stock worth $9,292,000 after buying an additional 34,990 shares in the last quarter. State Board of Administration of Florida Retirement System boosted 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 worth $1,554,000 after buying an additional 936 shares in the last quarter. Nationwide Fund Advisors boosted 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 worth $3,353,000 after buying an additional 29,398 shares in the last quarter. California State Teachers Retirement System boosted 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 worth $1,971,000 after buying an additional 775 shares in the last quarter. Finally, Rhumbline Advisers boosted 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 worth $1,385,000 after buying an additional 1,710 shares in the last quarter.
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.
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