Lannett Co Inc (LCI) Upgraded at ValuEngine
ValuEngine upgraded shares of Lannett Co Inc (NYSE:LCI) from a hold rating to a buy rating in a research report sent to investors on Thursday.
LCI has been the topic of several other research reports. Deutsche Bank AG reissued a hold rating and issued a $23.00 target price (up previously from $22.00) on shares of Lannett Co in a report on Monday, July 17th. Roth Capital set a $27.00 price objective on Lannett Co and gave the stock a buy rating in a report on Tuesday, August 22nd. BidaskClub lowered Lannett Co from a buy rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research raised Lannett Co from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Tuesday, July 18th. Finally, Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Lannett Co in a report on Wednesday, August 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Lannett Co currently has a consensus rating of Hold and an average target price of $22.40.
Lannett Co (LCI) traded down $1.15 during trading hours on Thursday, reaching $23.55. The company had a trading volume of 717,400 shares, compared to its average volume of 1,028,979. The stock has a market capitalization of $887.06, a price-to-earnings ratio of 8.75, a PEG ratio of 2.05 and a beta of 2.73. The company has a quick ratio of 2.09, a current ratio of 2.52 and a debt-to-equity ratio of 1.44. Lannett Co has a 52-week low of $14.90 and a 52-week high of $27.90.
Lannett Co (NYSE:LCI) last posted its earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. The firm had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. Lannett Co had a return on equity of 18.23% and a net margin of 6.67%. Lannett Co’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. equities research analysts anticipate that Lannett Co will post 2.87 EPS for the current fiscal year.
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In other news, CEO Arthur P. Bedrosian sold 7,422 shares of the stock in a transaction dated 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 in the company, valued at $17,110,825.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David Farber sold 10,000 shares of the stock in a transaction dated 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 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. Company insiders own 15.04% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Lannett Co by 0.7% during the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after buying an additional 100 shares during the period. CS Mckee LP boosted its stake in shares of Lannett Co by 0.6% during the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after buying an additional 200 shares during the period. Texas Permanent School Fund boosted its stake in shares of Lannett Co by 1.0% during the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock worth $438,000 after buying an additional 203 shares during the period. Rhumbline Advisers boosted its stake in shares of Lannett Co by 0.4% during the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock worth $1,257,000 after buying an additional 244 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Lannett Co by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 87.67% of the company’s stock.
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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