Lannett Company, Inc. (NYSE:LCI) Director Albert Paonessa III Sells 11,582 Shares
Lannett Company, Inc. (NYSE:LCI) Director Albert Paonessa III sold 11,582 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $10.30, for a total transaction of $119,294.60. Following the sale, the director now directly owns 62,140 shares of the company’s stock, valued at approximately $640,042. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NYSE:LCI traded up $1.74 during trading hours on Friday, reaching $13.16. The company had a trading volume of 7,659,632 shares, compared to its average volume of 2,885,776. The company has a current ratio of 2.67, a quick ratio of 2.12 and a debt-to-equity ratio of 1.98. Lannett Company, Inc. has a 52 week low of $3.33 and a 52 week high of $13.79. The firm has a market cap of $461.43 million, a price-to-earnings ratio of 5.60 and a beta of 2.19. The firm’s 50 day moving average price is $7.35 and its 200-day moving average price is $7.08.
Lannett (NYSE:LCI) last posted its earnings results on Tuesday, August 27th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Lannett had a negative net margin of 41.52% and a positive return on equity of 28.00%. The business had revenue of $133.80 million during the quarter, compared to the consensus estimate of $120.28 million. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue was down 21.7% on a year-over-year basis. On average, analysts forecast that Lannett Company, Inc. will post 1.18 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of Lannett by 274.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,528,926 shares of the company’s stock worth $19,903,000 after acquiring an additional 1,853,436 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Lannett by 33.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,689,687 shares of the company’s stock worth $16,300,000 after acquiring an additional 678,248 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Lannett by 10.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 3,451,212 shares of the company’s stock worth $20,914,000 after acquiring an additional 339,593 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Lannett during the 2nd quarter worth $2,007,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lannett by 118.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 416,145 shares of the company’s stock worth $2,522,000 after acquiring an additional 225,250 shares during the last quarter. 82.07% of the stock is owned by institutional investors and hedge funds.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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