Nationwide Fund Advisors lifted its stake in shares of Lannett Company, Inc. (NYSE:LCI) by 192.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 77,123 shares of the company’s stock after buying an additional 50,774 shares during the quarter. Nationwide Fund Advisors owned about 0.21% of Lannett worth $1,423,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in LCI. Municipal Employees Retirement System of Michigan grew its position in Lannett by 4.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock valued at $142,000 after purchasing an additional 300 shares during the period. BNP Paribas Arbitrage SA grew its position in Lannett by 49.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after purchasing an additional 3,061 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Lannett in the 2nd quarter valued at $271,000. Arizona State Retirement System grew its position in Lannett by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock valued at $313,000 after purchasing an additional 100 shares during the period. Finally, Royal Bank of Canada grew its position in Lannett by 10.6% in the 2nd quarter. Royal Bank of Canada now owns 18,374 shares of the company’s stock valued at $374,000 after purchasing an additional 1,756 shares during the period. 97.17% of the stock is owned by institutional investors.

Lannett Company, Inc. (LCI) opened at $24.05 on Tuesday. 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 Company, Inc. has a 52 week low of $14.90 and a 52 week high of $30.35. The firm has a market capitalization of $906.68, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 1.58 and a beta of 2.85.

Lannett (NYSE:LCI) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.60 earnings per share for the quarter, beating the 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 business had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $153.62 million. During the same period last year, the business earned $0.77 EPS. The business’s revenue was down 4.1% on a year-over-year basis. equities research analysts anticipate that Lannett Company, Inc. will post 3.04 earnings per share for the current year.

In other Lannett news, CEO Arthur P. Bedrosian sold 7,422 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total transaction of $187,034.40. Following the transaction, the chief executive officer now directly owns 679,001 shares in the company, valued at approximately $17,110,825.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arthur P. Bedrosian sold 42,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total value of $1,071,000.00. Following the transaction, the chief executive officer now owns 636,616 shares in the company, valued at $16,233,708. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,000 shares of company stock worth $3,430,991. Company insiders own 14.72% of the company’s stock.

LCI has been the subject of several research reports. ValuEngine downgraded shares of Lannett from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Lannett from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 12th. BMO Capital Markets lifted their price target on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research report on Monday, November 13th. Finally, Oppenheimer reissued a “hold” rating on shares of Lannett in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.60.

ILLEGAL ACTIVITY NOTICE: “Lannett Company, Inc. (LCI) Stake Increased by Nationwide Fund Advisors” was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://theolympiareport.com/2017/12/26/lannett-company-inc-lci-stake-increased-by-nationwide-fund-advisors.html.

Lannett Profile

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.

Want to see what other hedge funds are holding LCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lannett Company, Inc. (NYSE:LCI).

Institutional Ownership by Quarter for Lannett (NYSE:LCI)

Receive News & Ratings for Lannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lannett and related companies with Analyst Ratings Network's FREE daily email newsletter.