Pinnacle Associates Ltd. cut its position in shares of Lannett Co Inc (NYSE:LCI) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,065 shares of the company’s stock after selling 12,765 shares during the period. Pinnacle Associates Ltd. owned about 0.22% of Lannett Co worth $1,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LCI. FMR LLC acquired a new position in Lannett Co during the fourth quarter worth approximately $7,784,000. Dimensional Fund Advisors LP raised its position in Lannett Co by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 966,777 shares of the company’s stock worth $21,318,000 after buying an additional 28,904 shares in the last quarter. Oxford Asset Management raised its position in Lannett Co by 335.3% in the fourth quarter. Oxford Asset Management now owns 85,132 shares of the company’s stock worth $1,877,000 after buying an additional 65,573 shares in the last quarter. State Street Corp raised its position in Lannett Co by 13.7% in the fourth quarter. State Street Corp now owns 1,186,674 shares of the company’s stock worth $26,169,000 after buying an additional 142,616 shares in the last quarter. Finally, Comerica Bank raised its position in Lannett Co by 5.5% in the fourth quarter. Comerica Bank now owns 31,180 shares of the company’s stock worth $633,000 after buying an additional 1,634 shares in the last quarter. Institutional investors own 80.82% of the company’s stock.

Institutional Ownership by Quarter for Lannett Co (NYSE:LCI)

Shares of Lannett Co Inc (NYSE:LCI) traded down 2.39% during mid-day trading on Friday, hitting $22.45. 275,961 shares of the stock traded hands. The stock’s market cap is $834.89 million. The firm’s 50 day moving average price is $20.88 and its 200-day moving average price is $25.23. Lannett Co Inc has a 12-month low of $16.75 and a 12-month high of $39.99.

Lannett Co (NYSE:LCI) last announced its earnings results on Wednesday, February 1st. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. The business earned $171 million during the quarter, compared to the consensus estimate of $169.04 million. Lannett Co had a negative net margin of 3.48% and a positive return on equity of 21.95%. The business’s quarterly revenue was up 34.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. Analysts predict that Lannett Co Inc will post $3.46 earnings per share for the current year.

“Pinnacle Associates Ltd. Sells 12,765 Shares of Lannett Co Inc (LCI)” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece of content can be read at http://www.watchlistnews.com/pinnacle-associates-ltd-sells-12765-shares-of-lannett-co-inc-lci/1122612.html.

A number of research analysts have commented on the stock. Roth Capital set a $28.00 price objective on shares of Lannett Co and gave the company a “buy” rating in a research note on Thursday, February 2nd. Zacks Investment Research upgraded shares of Lannett Co from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Thursday, January 26th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a research note on Tuesday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.71.

In other news, CEO Arthur P. Bedrosian bought 10,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $200,000.00. Following the completion of the purchase, the chief executive officer now owns 688,909 shares of the company’s stock, valued at $13,778,180. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David Farber sold 3,800 shares of the company’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $25.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider now owns 1,937,070 shares of the company’s stock, valued at $48,426,750. The disclosure for this sale can be found here. 15.04% of the stock is currently owned by corporate insiders.

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.

5 Day Chart for NYSE:LCI

Want to see what other hedge funds are holding LCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lannett Co Inc (NYSE:LCI).

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 Analyst Ratings Network's FREE daily email newsletter.