Lannett Co Inc (LCI) Shares Bought by SG Americas Securities LLC
SG Americas Securities LLC increased its stake in shares of Lannett Co Inc (NYSE:LCI) by 53.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 70,667 shares of the company’s stock after buying an additional 24,544 shares during the period. SG Americas Securities LLC owned 0.19% of Lannett worth $1,304,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in Lannett by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock valued at $313,000 after purchasing an additional 100 shares during the period. CS Mckee LP boosted its holdings in Lannett by 0.6% in the 2nd quarter. CS Mckee LP now owns 35,400 shares of the company’s stock valued at $722,000 after purchasing an additional 200 shares during the period. Texas Permanent School Fund boosted its holdings in Lannett by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock valued at $438,000 after purchasing an additional 203 shares during the period. Rhumbline Advisers boosted its holdings in Lannett by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock valued at $1,257,000 after purchasing an additional 244 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Lannett by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock valued at $456,000 after purchasing an additional 297 shares during the period. 97.39% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on LCI shares. Roth Capital set a $27.00 price objective on shares of Lannett and gave the company a “buy” rating in a report on Tuesday, August 22nd. ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Friday, November 10th. Deutsche Bank cut their price target on shares of Lannett from $23.00 to $19.00 and set a “hold” rating for the company in a report on Monday, August 14th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Lannett in a report on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $22.80.
In related news, CEO Arthur P. Bedrosian sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $26.75, for a total transaction of $1,337,500.00. Following the completion of the transaction, the chief executive officer now directly owns 636,616 shares in the company, valued at approximately $17,029,478. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Arthur P. Bedrosian sold 7,422 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total transaction of $187,034.40. Following the transaction, the chief executive officer now owns 679,001 shares of the company’s stock, valued at $17,110,825.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,000 shares of company stock valued at $2,861,701. 15.04% of the stock is currently owned by insiders.
Shares of Lannett Co Inc (LCI) traded down $0.65 during trading on Thursday, hitting $26.00. 749,100 shares of the stock were exchanged, compared to its average volume of 796,686. Lannett Co Inc has a 12 month low of $14.90 and a 12 month high of $27.90. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52. The company has a market cap of $1,003.84, a P/E ratio of 9.91, a PEG ratio of 2.23 and a beta of 2.73.
Lannett (NYSE:LCI) last issued 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 had a net margin of 6.67% and a return on equity of 18.23%. The company had revenue of $155.00 million during the quarter, compared to the consensus estimate of $153.62 million. During the same quarter in the prior year, the firm posted $0.77 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. equities analysts predict that Lannett Co Inc will post 2.99 earnings per share for the current year.
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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