Lannett Co. (LCI) Trading Up 2%
Lannett Co. (NYSE:LCI) was up 2% during trading on Monday . The stock traded as high as $29.35 and last traded at $28.98, with a volume of 519,357 shares trading hands. The stock had previously closed at $28.42.
Several equities research analysts recently commented on LCI shares. Canaccord Genuity downgraded Lannett from a “buy” rating to a “sell” rating and dropped their target price for the company from $28.00 to $18.00 in a report on Thursday, March 24th. Roth Capital dropped their target price on Lannett from $30.00 to $27.50 and set a “buy” rating on the stock in a report on Thursday, March 24th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a research note on Thursday, March 24th. Craig Hallum lowered their price objective on Lannett to $35.00 and set a “buy” rating for the company in a research note on Friday, March 25th. Finally, Susquehanna lowered their price objective on Lannett from $37.00 to $30.00 in a research note on Friday, March 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Lannett currently has an average rating of “Hold” and a consensus target price of $30.36.
The stock has a market capitalization of $1.07 billion and a P/E ratio of 14.55. The company has a 50-day moving average of $25.00 and a 200 day moving average of $24.41.
Lannett (NYSE:LCI) last issued its earnings results on Tuesday, May 3rd. The company reported $0.75 EPS 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 last year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year. Equities research analysts expect that Lannett Co. will post $3.27 earnings per share for the current year.
In other Lannett news, VP Robert Ehlinger sold 37,141 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $25.06, for a total value of $930,753.46. Following the transaction, the vice president now owns 40,104 shares in the company, valued at $1,005,006.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Other hedge funds recently made changes to their positions in the company. Schroder Investment Management Group bought a new stake in shares of Lannett during the fourth quarter worth $15,330,000. Bank of Montreal Can boosted its stake in shares of Lannett by 37.2% in the fourth quarter. Bank of Montreal Can now owns 380,775 shares of the company’s stock worth $15,277,000 after buying an additional 103,322 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Lannett by 10.6% in the fourth quarter. Wells Fargo & Company MN now owns 227,448 shares of the company’s stock worth $9,125,000 after buying an additional 21,749 shares in the last quarter. Russell Frank Co boosted its stake 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. Finally, Principal Financial Group Inc. boosted its stake in shares of Lannett by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 183,577 shares of the company’s stock worth $7,365,000 after buying an additional 8,551 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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