Lannett’s (LCI) “Hold” Rating Reiterated at Oppenheimer
Oppenheimer restated their hold rating on shares of Lannett (NYSE:LCI) in a research report report published on Monday. Oppenheimer also issued estimates for Lannett’s Q2 2018 earnings at $0.88 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $0.85 EPS, FY2018 earnings at $3.16 EPS, FY2019 earnings at $2.77 EPS, FY2020 earnings at $2.40 EPS, FY2021 earnings at $2.39 EPS and FY2022 earnings at $2.32 EPS.
LCI has been the topic of a number of other research reports. ValuEngine upgraded Lannett from a hold rating to a buy rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Lannett from a hold rating to a buy rating and set a $32.00 price objective on the stock in a research note on Monday. Deutsche Bank reduced their target price on Lannett from $23.00 to $19.00 and set a hold rating on the stock in a report on Monday, August 14th. BMO Capital Markets reaffirmed a market perform rating and issued a $20.00 target price (down previously from $26.00) on shares of Lannett in a report on Thursday, August 24th. Finally, Roth Capital set a $27.00 target price on Lannett and gave the company a buy rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Lannett presently has an average rating of Hold and an average price target of $23.60.
Lannett (NYSE:LCI) opened at $28.10 on Monday. The firm has a market capitalization of $1,089.52, a P/E ratio of 10.74, a PEG ratio of 1.90 and a beta of 2.85. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52. Lannett has a 52 week low of $14.90 and a 52 week high of $30.35.
Lannett (NYSE:LCI) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. Lannett had a return on equity of 18.23% and a net margin of 6.67%. The firm had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. During the same quarter last year, the company earned $0.77 EPS. The company’s revenue was down 4.1% on a year-over-year basis. research analysts expect that Lannett will post 3.04 EPS for the current year.
In related news, CEO Arthur P. Bedrosian sold 50,000 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $26.75, for a total transaction of $1,337,500.00. Following the sale, the chief executive officer now owns 636,616 shares of the company’s stock, valued at approximately $17,029,478. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arthur P. Bedrosian sold 7,422 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $25.20, for a total value of $187,034.40. Following the sale, the chief executive officer now directly owns 679,001 shares in the company, valued at approximately $17,110,825.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,816 shares of company stock worth $3,425,471. Company insiders own 14.72% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LCI. JPMorgan Chase & Co. lifted its holdings in Lannett by 296.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 306,106 shares of the company’s stock worth $5,678,000 after buying an additional 228,947 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in Lannett by 20.5% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,010,232 shares of the company’s stock worth $18,639,000 after buying an additional 171,751 shares during the period. Vanguard Group Inc. lifted its holdings in Lannett by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock worth $59,198,000 after buying an additional 168,454 shares during the period. Russell Investments Group Ltd. lifted its holdings in Lannett by 27.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 669,298 shares of the company’s stock worth $12,349,000 after buying an additional 142,278 shares during the period. Finally, Heartland Advisors Inc. lifted its holdings in Lannett by 20.0% during the 2nd quarter. Heartland Advisors Inc. now owns 600,000 shares of the company’s stock worth $12,240,000 after buying an additional 100,000 shares during the period. 97.27% of the stock is currently owned by hedge funds and other institutional investors.
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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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