California Public Employees Retirement System Has $1.59 Million Stake in Lannett Co Inc (LCI)
California Public Employees Retirement System grew its stake in shares of Lannett Co Inc (NYSE:LCI) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,100 shares of the company’s stock after purchasing an additional 4,100 shares during the period. California Public Employees Retirement System owned about 0.21% of Lannett Co worth $1,593,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Lannett Co by 77.6% during the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after purchasing an additional 2,513 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Lannett Co by 4.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after buying an additional 300 shares during the period. BNP Paribas Arbitrage SA raised its position in Lannett Co by 49.6% during the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after buying an additional 3,061 shares during the period. Highbridge Capital Management LLC acquired a new position in Lannett Co during the first quarter valued at $287,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Lannett Co during the second quarter valued at $271,000. 87.67% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on LCI shares. Deutsche Bank AG reissued a “hold” rating and set a $23.00 price target (up from $22.00) on shares of Lannett Co in a research report on Monday, July 17th. Roth Capital set a $27.00 price target on Lannett Co and gave the company a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine lowered Lannett Co from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub lowered Lannett Co from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research raised Lannett Co from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.80.
Lannett Co Inc (LCI) opened at $20.70 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.72 and a quick ratio of 2.09. Lannett Co Inc has a 52-week low of $14.90 and a 52-week high of $27.90. The firm has a market capitalization of $770.67, a PE ratio of 7.24, a price-to-earnings-growth ratio of 1.95 and a beta of 2.73.
Lannett Co (NYSE:LCI) last issued its earnings results on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The company had revenue of $139.10 million for the quarter, compared to analyst estimates of $139.01 million. During the same period in the prior year, the firm posted $0.73 EPS. The business’s revenue was down 17.6% compared to the same quarter last year. sell-side analysts anticipate that Lannett Co Inc will post 2.66 earnings per share for the current year.
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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