Lannett Co Inc (LCI) Trading Up 0.5%
Shares of Lannett Co Inc (NYSE:LCI) were up 0.5% during trading on Tuesday . The stock traded as high as $20.90 and last traded at $20.60. Approximately 764,564 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 635,198 shares. The stock had previously closed at $20.50.
Several analysts have recently commented on LCI shares. Zacks Investment Research upgraded shares of Lannett Co from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of Lannett Co from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine lowered shares of Lannett Co from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BMO Capital Markets reiterated a “market perform” rating and issued a $20.00 price target (down from $26.00) on shares of Lannett Co in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Lannett Co in a research report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.80.
The stock has a 50 day moving average price of $17.39 and a 200 day moving average price of $20.19. The stock’s market cap is $753.14 million.
Lannett Co (NYSE:LCI) last released 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. The business had revenue of $139.10 million for the quarter, compared to the consensus estimate of $139.01 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The firm’s quarterly revenue was down 17.6% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. Equities research analysts forecast that Lannett Co Inc will post $2.57 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of Lannett Co by 0.7% in the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after acquiring an additional 100 shares in the last quarter. CS Mckee LP increased its position in shares of Lannett Co by 0.6% in the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after acquiring an additional 200 shares in the last quarter. Texas Permanent School Fund increased its position in shares of Lannett Co by 1.0% in the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after acquiring an additional 203 shares in the last quarter. Rhumbline Advisers increased its position in shares of Lannett Co by 0.4% in the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after acquiring an additional 244 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Lannett Co by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after acquiring an additional 297 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
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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