Ameriprise Financial Inc. Sells 477,749 Shares of Lannett Co Inc (LCI)
Ameriprise Financial Inc. decreased its stake in shares of Lannett Co Inc (NYSE:LCI) by 64.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 269,313 shares of the company’s stock after selling 477,749 shares during the period. Ameriprise Financial Inc. owned 0.72% of Lannett Co worth $5,494,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Teachers Advisors LLC lifted its holdings in Lannett Co by 7.4% during the 2nd quarter. Teachers Advisors LLC now owns 50,883 shares of the company’s stock worth $1,038,000 after purchasing an additional 3,497 shares in the last quarter. White Pine Capital LLC purchased a new stake in Lannett Co during the 2nd quarter worth about $495,000. State of Tennessee Treasury Department lifted its holdings in Lannett Co by 6.9% during the 2nd quarter. State of Tennessee Treasury Department now owns 27,848 shares of the company’s stock worth $568,000 after purchasing an additional 1,795 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Lannett Co during the 2nd quarter worth about $271,000. Finally, Heartland Advisors Inc. lifted its holdings in Lannett Co by 20.0% during the 2nd quarter. Heartland Advisors Inc. now owns 600,000 shares of the company’s stock worth $12,240,000 after purchasing an additional 100,000 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lannett Co Inc (NYSE LCI) opened at 24.20 on Friday. The stock’s market cap is $902.27 million. Lannett Co Inc has a one year low of $14.90 and a one year high of $27.90. The company’s 50-day moving average price is $19.45 and its 200-day moving average price is $20.26.
Lannett Co (NYSE:LCI) last released its earnings results on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $139.10 million for the quarter, compared to the consensus estimate of $139.01 million. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. Lannett Co’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. Equities research analysts anticipate that Lannett Co Inc will post $2.60 earnings per share for the current year.
A number of brokerages recently issued reports on LCI. BidaskClub cut Lannett Co from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Lannett Co in a report on Wednesday, August 23rd. Deutsche Bank AG dropped their price objective on Lannett Co from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, August 14th. ValuEngine raised Lannett Co from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Roth Capital set a $27.00 price objective on Lannett Co and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.80.
Lannett Co 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.
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