Lannett (NYSE:LCI) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Lannett (NYSE:LCI) posted its quarterly earnings data on Wednesday. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.03, Briefing.com reports. Lannett had a positive return on equity of 28.00% and a negative net margin of 41.52%. The firm had revenue of $127.30 million during the quarter, compared to analyst estimates of $120.78 million. During the same period last year, the company posted $0.44 EPS. The business’s quarterly revenue was down 17.9% on a year-over-year basis.
Lannett stock traded down $1.14 during midday trading on Friday, reaching $8.93. The stock had a trading volume of 2,738,642 shares, compared to its average volume of 1,593,534. Lannett has a 12 month low of $4.33 and a 12 month high of $15.52. The company has a market capitalization of $406.93 million, a P/E ratio of 3.80 and a beta of 2.22. The company has a fifty day moving average price of $11.84 and a two-hundred day moving average price of $8.31. The company has a current ratio of 2.67, a quick ratio of 1.86 and a debt-to-equity ratio of 1.98.
In related news, Director Albert Paonessa III sold 16,195 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $12.54, for a total value of $203,085.30. Following the completion of the sale, the director now directly owns 45,945 shares of the company’s stock, valued at approximately $576,150.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick G. Lepore bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average cost of $9.82 per share, with a total value of $245,500.00. Following the completion of the transaction, the director now directly owns 201,340 shares in the company, valued at $1,977,158.80. The disclosure for this purchase can be found here. Insiders own 12.57% of the company’s stock.
Lannett Company Profile
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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