First Quadrant L P CA cut its holdings in Lannett Co Inc (NYSE:LCI) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,400 shares of the company’s stock after selling 4,800 shares during the quarter. First Quadrant L P CA’s holdings in Lannett Co were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Arizona State Retirement System lifted its stake in Lannett Co by 0.7% in the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock valued at $313,000 after buying an additional 100 shares during the period. CS Mckee LP lifted its stake in Lannett Co by 0.6% in the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock valued at $722,000 after buying an additional 200 shares during the period. Texas Permanent School Fund lifted its stake in Lannett Co by 1.0% in the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock valued at $438,000 after buying an additional 203 shares during the period. Rhumbline Advisers lifted its stake in Lannett Co by 0.4% in the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock valued at $1,257,000 after buying an additional 244 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Lannett Co by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock valued at $456,000 after buying an additional 297 shares during the period. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lannett Co Inc (NYSE:LCI) opened at $21.20 on Tuesday. Lannett Co Inc has a 1-year low of $14.90 and a 1-year high of $27.90. The stock has a market capitalization of $770.67, a price-to-earnings ratio of 7.24, a P/E/G ratio of 1.95 and a beta of 2.73. The company has a current ratio of 2.72, a quick ratio of 2.09 and a debt-to-equity ratio of 1.50.

Lannett Co (NYSE:LCI) last announced its quarterly 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 Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The business had revenue of $155.00 million during the quarter, compared to the consensus estimate of $153.62 million. During the same quarter in the prior year, the company posted $0.77 earnings per share. Lannett Co’s revenue was down 4.1% compared to the same quarter last year. analysts forecast that Lannett Co Inc will post 2.66 EPS for the current fiscal year.

Several equities research analysts have recently commented on LCI shares. Zacks Investment Research upgraded Lannett Co from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. ValuEngine downgraded Lannett Co from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub downgraded Lannett Co from a “buy” rating to a “hold” rating in a report on Monday, July 24th. BMO Capital Markets restated a “market perform” rating and set a $20.00 price objective (down previously from $26.00) on shares of Lannett Co in a report on Thursday, August 24th. Finally, Deutsche Bank AG restated a “hold” rating and set a $23.00 price objective (up previously from $22.00) on shares of Lannett Co in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Lannett Co presently has a consensus rating of “Hold” and an average price target of $21.80.

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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.

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

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