Lannett Company, Inc. (NYSE:LCI) CEO Arthur P. Bedrosian sold 42,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total transaction of $1,071,000.00. Following the completion of the transaction, the chief executive officer now directly owns 636,616 shares of the company’s stock, valued at approximately $16,233,708. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Lannett Company, Inc. (LCI) traded up $0.70 during mid-day trading on Wednesday, reaching $29.25. 705,800 shares of the company’s stock traded hands, compared to its average volume of 800,584. The company has a market capitalization of $1,075.40, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 2.39 and a beta of 2.85. The company has a current ratio of 2.52, a quick ratio of 1.90 and a debt-to-equity ratio of 1.44. Lannett Company, Inc. has a twelve month low of $14.90 and a twelve month high of $30.20.
Lannett (NYSE:LCI) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.08. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. analysts expect that Lannett Company, Inc. will post 2.99 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in LCI. State of Alaska Department of Revenue boosted its stake in shares of Lannett by 77.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock valued at $117,000 after purchasing an additional 2,513 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of 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 in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of 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 in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Lannett in the 3rd quarter valued at $188,000. Finally, Hartford Investment Management Co. purchased a new stake in shares of Lannett in the 3rd quarter valued at $212,000. 97.27% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on LCI shares. Zacks Investment Research raised shares of Lannett from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday, November 10th. ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Roth Capital set a $27.00 target price on shares of Lannett and gave the stock a “buy” rating in a research note on Tuesday, August 22nd. Deutsche Bank reduced their price target on shares of Lannett from $23.00 to $19.00 and set a “hold” rating for the company in a report on Monday, August 14th. Finally, Oppenheimer restated a “hold” rating on shares of Lannett in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Lannett presently has a consensus rating of “Hold” and a consensus price target of $22.80.
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Lannett Company 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.
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