Stock Traders Purchase Large Volume of Put Options on Lannett Co (LCI)
Lannett Co Inc (NYSE:LCI) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 28,361 put options on the company. This is an increase of approximately 4,497% compared to the typical volume of 617 put options.
Lannett Co (LCI) opened at $27.50 on Friday. The firm has a market cap of $962.40, a price-to-earnings ratio of 9.50, a P/E/G ratio of 2.13 and a beta of 2.73. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.52 and a quick ratio of 1.90. Lannett Co has a one year low of $14.90 and a one year high of $27.90.
Lannett Co (NYSE:LCI) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Lannett Co had a net margin of 6.67% and a return on equity of 18.23%. The firm had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $153.62 million. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. analysts predict that Lannett Co will post 2.99 earnings per share for the current year.
Several equities analysts have recently issued reports on LCI shares. Roth Capital set a $27.00 price target on shares of Lannett Co and gave the company a “buy” rating in a report on Tuesday, August 22nd. ValuEngine lowered shares of Lannett Co from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BMO Capital Markets boosted their price target on shares of Lannett Co from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, November 13th. BidaskClub lowered shares of Lannett Co from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research lowered shares of Lannett Co from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $22.80.
In other Lannett Co news, CEO Arthur P. Bedrosian sold 7,422 shares of Lannett Co stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $25.20, for a total transaction of $187,034.40. Following the completion of the sale, the chief executive officer now owns 679,001 shares of the company’s stock, valued at approximately $17,110,825.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David Farber sold 10,000 shares of Lannett Co stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $25.03, for a total transaction of $250,300.00. Following the sale, the insider now directly owns 4,211,069 shares of the company’s stock, valued at approximately $105,403,057.07. The disclosure for this sale can be found here. 15.04% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of LCI. State of Alaska Department of Revenue lifted its position in Lannett Co by 77.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Lannett Co by 4.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock worth $142,000 after buying an additional 300 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Lannett Co by 49.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock worth $188,000 after buying an additional 3,061 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in Lannett Co during the 3rd quarter worth about $188,000. Finally, Hartford Investment Management Co. bought a new stake in Lannett Co during the 3rd quarter worth about $212,000. 96.83% of the stock is currently owned by hedge funds and other institutional investors.
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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