Lannett Co. (LCI) Shares Down 0.4%
Lannett Co. (NYSE:LCI) traded down 0.4% during mid-day trading on Friday . The company traded as low as $24.36 and last traded at $24.59, with a volume of 597,058 shares trading hands. The stock had previously closed at $24.69.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Lannett from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Deutsche Bank AG assumed coverage on shares of Lannett in a research note on Wednesday, June 29th. They set a “hold” rating and a $26.00 price target on the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett in a research note on Saturday, May 14th. Susquehanna decreased their price target on shares of Lannett from $37.00 to $30.00 in a research note on Friday, March 25th. Finally, Craig Hallum decreased their price target on shares of Lannett to $35.00 and set a “buy” rating on the stock in a research note on Friday, March 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $29.93.
The firm’s 50 day moving average is $24.29 and its 200 day moving average is $24.77. The stock has a market cap of $903.61 million and a price-to-earnings ratio of 12.24.
Lannett (NYSE:LCI) last announced its earnings results on Tuesday, May 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.12. During the same period last year, the firm earned $0.97 EPS. The business had revenue of $163.70 million for the quarter, compared to analyst estimates of $160.49 million. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. On average, analysts expect that Lannett Co. will post $3.27 EPS for the current year.
In other Lannett news, VP Robert Ehlinger sold 62,859 shares of Lannett stock in a transaction on Monday, June 20th. The shares were sold at an average price of $25.40, for a total transaction of $1,596,618.60. Following the sale, the vice president now owns 56,268 shares of the company’s stock, valued at approximately $1,429,207.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
A number of large investors have made changes to their positions in the company. Deere & Co. boosted its stake in shares of Lannett by 39.1% in the fourth quarter. Deere & Co. now owns 46,818 shares of the company’s stock valued at $1,878,000 after buying an additional 13,153 shares during the period. Oxford Asset Management bought a new position in Lannett during the fourth quarter valued at approximately $3,593,000. TD Asset Management Inc. bought a new position in Lannett during the fourth quarter valued at approximately $1,416,000. California State Teachers Retirement System raised its position in 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 in the last quarter. Finally, Russell Frank Co raised its position in Lannett by 18.3% in the fourth quarter. Russell Frank Co now owns 226,393 shares of the company’s stock valued at $9,292,000 after buying an additional 34,990 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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