Swiss National Bank raised its holdings in Lannett Company, Inc. (NYSE:LCI) by 14.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,700 shares of the company’s stock after acquiring an additional 6,900 shares during the period. Swiss National Bank’s holdings in Lannett were worth $758,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Lannett by 2.8% in the 1st quarter. BlackRock Inc. now owns 4,005,500 shares of the company’s stock valued at $64,288,000 after buying an additional 108,343 shares during the period. LSV Asset Management grew its stake in shares of Lannett by 2.1% in the 2nd quarter. LSV Asset Management now owns 2,100,042 shares of the company’s stock valued at $28,560,000 after buying an additional 43,031 shares during the period. Heartland Advisors Inc. grew its stake in shares of Lannett by 32.8% in the 2nd quarter. Heartland Advisors Inc. now owns 810,500 shares of the company’s stock valued at $11,023,000 after buying an additional 200,000 shares during the period. Northern Trust Corp grew its stake in shares of Lannett by 36.8% in the 1st quarter. Northern Trust Corp now owns 800,762 shares of the company’s stock valued at $12,852,000 after buying an additional 215,228 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Lannett by 12.1% in the 1st quarter. Russell Investments Group Ltd. now owns 517,221 shares of the company’s stock valued at $8,302,000 after buying an additional 55,764 shares during the period. Institutional investors own 97.54% of the company’s stock.

Several research firms have recently weighed in on LCI. Zacks Investment Research cut shares of Lannett from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 4th. Roth Capital cut shares of Lannett from a “buy” rating to a “neutral” rating and increased their price target for the company from $23.00 to $27.50 in a research note on Monday, August 20th. BMO Capital Markets dropped their price target on shares of Lannett from $19.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, August 20th. Raymond James cut shares of Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a research note on Monday, August 20th. Finally, Craig Hallum cut shares of Lannett from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $24.10.

In related news, Director Patrick G. Lepore acquired 25,000 shares of the stock in a transaction that occurred on Friday, August 31st. The stock was purchased at an average price of $5.34 per share, with a total value of $133,500.00. Following the transaction, the director now owns 67,895 shares of the company’s stock, valued at approximately $362,559.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.72% of the company’s stock.

NYSE:LCI opened at $4.75 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.62 and a quick ratio of 1.92. The company has a market cap of $200.34 million, a P/E ratio of 1.53 and a beta of 2.21. Lannett Company, Inc. has a fifty-two week low of $4.60 and a fifty-two week high of $30.35.

Lannett (NYSE:LCI) last posted its quarterly earnings data on Tuesday, August 28th. The company reported $0.64 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.64. The firm had revenue of $170.90 million during the quarter, compared to analysts’ expectations of $171.21 million. Lannett had a net margin of 4.19% and a return on equity of 19.92%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. equities analysts forecast that Lannett Company, Inc. will post 2.09 EPS for the current year.

About Lannett

Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.

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Institutional Ownership by Quarter for Lannett (NYSE:LCI)

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