Mason Street Advisors LLC Invests $130,000 in Lannett Co. (LCI)
Mason Street Advisors LLC bought a new position in Lannett Co. (NYSE:LCI) during the second quarter, Holdings Channel reports. The institutional investor bought 5,460 shares of the company’s stock, valued at approximately $130,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in shares of Lannett by 13.7% in the second quarter. Acrospire Investment Management LLC now owns 6,656 shares of the company’s stock valued at $158,000 after buying an additional 800 shares during the last quarter. BlackRock Inc. increased its position in shares of Lannett by 277.7% in the second quarter. BlackRock Inc. now owns 7,517 shares of the company’s stock worth $179,000 after buying an additional 5,527 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new position in shares of Lannett during the second quarter worth approximately $197,000. Raymond James & Associates acquired a new position in shares of Lannett during the second quarter worth approximately $210,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Lannett by 90.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,598 shares of the company’s stock worth $228,000 after buying an additional 4,565 shares in the last quarter. Institutional investors own 78.88% of the company’s stock.
Shares of Lannett Co. (NYSE:LCI) opened at 24.85 on Monday. Lannett Co. has a 1-year low of $16.91 and a 1-year high of $49.44. The stock has a 50 day moving average price of $29.76 and a 200-day moving average price of $25.81. The stock has a market capitalization of $916.77 million, a PE ratio of 20.71 and a beta of 1.93.
Lannett (NYSE:LCI) last announced its earnings results on Tuesday, August 23rd. The company reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.14. The firm earned $168.90 million during the quarter, compared to analysts’ expectations of $161.55 million. Lannett had a return on equity of 23.75% and a net margin of 7.91%. The company’s quarterly revenue was up 70.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 EPS. On average, analysts forecast that Lannett Co. will post $3.39 earnings per share for the current year.
A number of brokerages recently commented on LCI. TheStreet upgraded Lannett from a “hold” rating to a “buy” rating in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Lannett from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Thursday, August 25th. Raymond James Financial Inc. upped their target price on Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a report on Wednesday, August 24th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a report on Tuesday, July 12th. Finally, Deutsche Bank AG began coverage on Lannett in a report on Wednesday, June 29th. They set a “hold” rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.36.
In related news, insider G. Michael Landis sold 4,334 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $32.30, for a total transaction of $139,988.20. Following the completion of the sale, the insider now directly owns 6,461 shares of the company’s stock, valued at approximately $208,690.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James M. Maher sold 1,478 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $33.91, for a total value of $50,118.98. Following the sale, the director now directly owns 20,320 shares of the company’s stock, valued at $689,051.20. The disclosure for this sale can be found here. 15.10% of the stock is owned by insiders.
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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