Lannett Co. (LCI) Stock Price Up 2%
Lannett Co. (NYSE:LCI) shares rose 2% during mid-day trading on Monday . The company 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.
LCI has been the subject of a number of recent analyst reports. Susquehanna reduced their price objective on Lannett from $37.00 to $30.00 in a research note on Friday, March 25th. Roth Capital cut their price target on Lannett from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Thursday, March 24th. Craig Hallum cut their price target on Lannett to $35.00 and set a “buy” rating for the company in a research note on Friday, March 25th. Zacks Investment Research upgraded Lannett from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, July 1st. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $30.36.
The stock has a 50 day moving average price of $25.27 and a 200 day moving average price of $24.12. The company has a market cap of $1.06 billion and a price-to-earnings ratio of 14.36.
Lannett (NYSE:LCI) last issued its earnings results on Tuesday, May 3rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.12. The business had revenue of $163.70 million for the quarter, compared to analyst estimates of $160.49 million. During the same period last year, the business posted $0.97 EPS. Lannett’s revenue was up 64.7% on a year-over-year basis. Equities analysts expect that Lannett Co. will post $3.27 earnings per share for the current fiscal year.
In other news, VP Robert Ehlinger sold 62,859 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink.
Other large investors have modified their holdings of the company. Deere & Co. raised 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. TD Asset Management Inc. purchased a new position in Lannett during the fourth quarter worth about $1,416,000. California State Teachers Retirement System increased 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 worth $1,971,000 after buying an additional 775 shares in the last quarter. Russell Frank Co increased its position in 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, Mutual of America Capital Management LLC increased its position in Lannett by 66.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 62,765 shares of the company’s stock worth $2,518,000 after buying an additional 25,165 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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