State Board of Administration of Florida Retirement System Cuts Position in Lannett Co Inc (LCI)
State Board of Administration of Florida Retirement System trimmed its position in Lannett Co Inc (NYSE:LCI) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,560 shares of the company’s stock after selling 415 shares during the period. State Board of Administration of Florida Retirement System owned 0.22% of Lannett Co worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Lannett Co by 8.8% during the 1st quarter. Ameriprise Financial Inc. now owns 747,062 shares of the company’s stock worth $16,698,000 after purchasing an additional 60,675 shares during the period. KBC Group NV acquired a new stake in Lannett Co during the 2nd quarter worth about $1,824,000. Janney Montgomery Scott LLC grew its position in Lannett Co by 33.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,651 shares of the company’s stock worth $417,000 after purchasing an additional 4,625 shares during the period. Swiss National Bank grew its position in Lannett Co by 3.8% during the 1st quarter. Swiss National Bank now owns 48,800 shares of the company’s stock worth $1,091,000 after purchasing an additional 1,800 shares during the period. Finally, Highbridge Capital Management LLC acquired a new stake in Lannett Co during the 1st quarter worth about $287,000. 88.06% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/09/15/state-board-of-administration-of-florida-retirement-system-cuts-position-in-lannett-co-inc-lci.html.
Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price target (down from $26.00) on shares of Lannett Co in a research report on Thursday, August 24th. BidaskClub downgraded Lannett Co from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Lannett Co in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Lannett Co from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Deutsche Bank AG lowered their target price on shares of Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Lannett Co presently has an average rating of “Hold” and an average target price of $21.80.
Lannett Co Inc (NYSE LCI) opened at 17.15 on Friday. The stock’s market capitalization is $639.42 million. The company has a 50-day moving average of $17.21 and a 200-day moving average of $20.57. Lannett Co Inc has a 52 week low of $14.90 and a 52 week high of $33.53.
Lannett Co (NYSE:LCI) last released its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $139.10 million for the quarter, compared to the consensus estimate of $139.01 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The firm’s revenue was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Analysts anticipate that Lannett Co Inc will post $2.57 earnings per share for the current year.
Lannett Co Company Profile
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.
Receive News & Ratings for Lannett Co Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett Co Inc and related companies with MarketBeat.com's FREE daily email newsletter.