Principal Financial Group Inc. Sells 225,180 Shares of Lannett Company, Inc. (NYSE:LCI)

Principal Financial Group Inc. reduced its holdings in shares of Lannett Company, Inc. (NYSE:LCI) by 78.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,286 shares of the company’s stock after selling 225,180 shares during the quarter. Principal Financial Group Inc.’s holdings in Lannett were worth $286,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Telemus Capital LLC lifted its holdings in Lannett by 0.9% during the second quarter. Telemus Capital LLC now owns 7,757,506 shares of the company’s stock worth $36,228,000 after acquiring an additional 66,618 shares during the period. BlackRock Inc. raised its stake in shares of Lannett by 5.1% in the first quarter. BlackRock Inc. now owns 5,503,228 shares of the company’s stock valued at $29,059,000 after buying an additional 265,477 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of Lannett by 2.4% in the first quarter. D. E. Shaw & Co. Inc. now owns 1,933,017 shares of the company’s stock valued at $10,206,000 after buying an additional 45,970 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lannett by 14.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,085,439 shares of the company’s stock valued at $5,731,000 after buying an additional 136,993 shares during the period. Finally, Morgan Stanley raised its stake in shares of Lannett by 33.0% in the first quarter. Morgan Stanley now owns 702,182 shares of the company’s stock valued at $3,708,000 after buying an additional 174,331 shares during the period. Institutional investors and hedge funds own 67.21% of the company’s stock.

Several analysts have issued reports on the company. Zacks Investment Research lowered Lannett from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 31st. Roth Capital lowered their target price on Lannett from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 31st.

Shares of NYSE LCI opened at $2.63 on Thursday. The stock has a market cap of $111.19 million, a PE ratio of -0.29 and a beta of 1.05. Lannett Company, Inc. has a fifty-two week low of $2.60 and a fifty-two week high of $10.70. The company has a debt-to-equity ratio of 4.92, a quick ratio of 2.70 and a current ratio of 3.91. The stock has a fifty day moving average of $3.51 and a 200-day moving average of $4.33.

Lannett (NYSE:LCI) last announced its quarterly earnings results on Tuesday, August 24th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The company had revenue of $106.00 million during the quarter, compared to analysts’ expectations of $110.64 million. Lannett had a negative net margin of 75.92% and a negative return on equity of 0.78%. Lannett’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. On average, sell-side analysts predict that Lannett Company, Inc. will post -0.76 EPS for the current year.

About Lannett

Lannett Co, Inc engages in the development, manufacture, marketing, and distribution of generic pharmaceutical products. It offers products in different forms including capsules, tablets, liquids, powders, and sprays. The company was founded in 1942 and is headquartered in Trevose, PA.

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Institutional Ownership by Quarter for Lannett (NYSE:LCI)

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