Lannett Co Inc (LCI) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of Lannett Co Inc (NYSE:LCI) from a buy rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Lannett, Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition, the Company contract manufactures and private labels pharmaceutical products for other companies. “
A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets boosted their price target on Lannett Co from $20.00 to $22.00 and gave the stock a market perform rating in a report on Monday. ValuEngine raised Lannett Co from a hold rating to a buy rating in a report on Thursday, November 9th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Lannett Co in a report on Wednesday, August 23rd. Roth Capital set a $27.00 price target on Lannett Co and gave the stock a buy rating in a report on Tuesday, August 22nd. Finally, Deutsche Bank AG cut their price target on Lannett Co from $23.00 to $19.00 and set a hold rating for the company in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $22.80.
Lannett Co (LCI) traded down $0.15 during midday trading on Tuesday, hitting $24.00. The stock had a trading volume of 555,700 shares, compared to its average volume of 796,205. Lannett Co has a 12 month low of $14.90 and a 12 month high of $27.90. The firm has a market capitalization of $911.55, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.10 and a beta of 2.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52.
Lannett Co (NYSE:LCI) last released its quarterly earnings results on Monday, November 6th. The company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. Lannett Co had a return on equity of 18.23% and a net margin of 6.67%. The company had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $153.62 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. analysts forecast that Lannett Co will post 2.87 EPS for the current fiscal year.
In other Lannett Co news, CEO Arthur P. Bedrosian sold 7,422 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total transaction of $187,034.40. Following the completion of the sale, the chief executive officer now owns 679,001 shares of the company’s stock, valued at $17,110,825.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David Farber sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $25.03, for a total value of $250,300.00. Following the sale, the insider now directly owns 4,211,069 shares of the company’s stock, valued at approximately $105,403,057.07. The disclosure for this sale can be found here. Corporate insiders own 15.04% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue grew its position in Lannett Co by 77.6% during the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after acquiring an additional 2,513 shares during the period. Municipal Employees Retirement System of Michigan grew its position in Lannett Co by 4.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after acquiring an additional 300 shares during the period. BNP Paribas Arbitrage SA grew its position in Lannett Co by 49.6% during the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after acquiring an additional 3,061 shares during the period. Neuberger Berman Group LLC purchased a new stake in Lannett Co during the third quarter valued at about $188,000. Finally, Hartford Investment Management Co. purchased a new stake in Lannett Co during the third quarter valued at about $212,000. 71.58% of the stock is owned by hedge funds and other institutional investors.
About Lannett Co
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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