BNP Paribas Arbitrage SA boosted its holdings in Lannett Company, Inc. (NYSE:LCI) by 66.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,384 shares of the company’s stock after acquiring an additional 6,149 shares during the period. BNP Paribas Arbitrage SA’s holdings in Lannett were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of Lannett by 4.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock worth $142,000 after purchasing an additional 300 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Lannett during the 2nd quarter worth about $271,000. Arizona State Retirement System boosted its stake in shares of Lannett by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after purchasing an additional 100 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Lannett by 10.6% during the 2nd quarter. Royal Bank of Canada now owns 18,374 shares of the company’s stock worth $374,000 after purchasing an additional 1,756 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in shares of Lannett during the 2nd quarter worth about $428,000. 97.27% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder David Farber sold 9,816 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $30.05, for a total value of $294,970.80. Following the sale, the insider now directly owns 4,190,169 shares of the company’s stock, valued at $125,914,578.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Arthur P. Bedrosian sold 42,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $25.50, for a total transaction of $1,071,000.00. Following the completion of the sale, the chief executive officer now directly owns 636,616 shares in the company, valued at $16,233,708. The disclosure for this sale can be found here. Insiders sold 129,816 shares of company stock worth $3,425,471 over the last three months. Corporate insiders own 14.72% of the company’s stock.

Lannett Company, Inc. (NYSE LCI) traded up $0.60 on Wednesday, hitting $28.90. 293,600 shares of the company traded hands, compared to its average volume of 796,646. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.52 and a quick ratio of 1.90. Lannett Company, Inc. has a twelve month low of $14.90 and a twelve month high of $30.20. The firm has a market capitalization of $1,066.90, a PE ratio of 10.52, a PEG ratio of 2.36 and a beta of 2.85.

Lannett (NYSE:LCI) last released its earnings results on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $153.62 million. During the same period last year, the company earned $0.77 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. research analysts expect that Lannett Company, Inc. will post 2.99 earnings per share for the current year.

Several equities research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price target (down from $26.00) on shares of Lannett in a research note on Thursday, August 24th. Oppenheimer reaffirmed a “hold” rating on shares of Lannett in a research note on Monday. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Monday. Finally, ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.60.

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

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