Shares of Lannett Company, Inc. (NYSE:LCI) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.70 and last traded at $13.40, with a volume of 19338 shares trading hands. The stock had previously closed at $13.45.
LCI has been the topic of several recent analyst reports. ValuEngine cut shares of Lannett from a “hold” rating to a “sell” rating in a report on Friday, April 27th. Zacks Investment Research cut shares of Lannett from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Lannett in a report on Wednesday, May 9th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.40.
The firm has a market cap of $534.10 million, a PE ratio of 4.70 and a beta of 2.51. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.91 and a current ratio of 2.56.
Lannett (NYSE:LCI) last posted its quarterly earnings results on Monday, May 7th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.04. The firm had revenue of $174.39 million for the quarter, compared to analysts’ expectations of $176.51 million. Lannett had a net margin of 7.01% and a return on equity of 18.64%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. research analysts predict that Lannett Company, Inc. will post 3.12 EPS for the current fiscal year.
In other Lannett news, CEO Timothy C. Crew bought 2,000 shares of the company’s stock in a transaction on Thursday, May 10th. The shares were bought at an average cost of $14.73 per share, with a total value of $29,460.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick G. Lepore bought 25,000 shares of the company’s stock in a transaction on Friday, May 11th. The shares were acquired at an average cost of $15.13 per share, for a total transaction of $378,250.00. The disclosure for this purchase can be found here. 14.72% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Deutsche Bank AG raised its holdings in shares of Lannett by 3.7% during the fourth quarter. Deutsche Bank AG now owns 415,219 shares of the company’s stock worth $9,631,000 after purchasing an additional 14,992 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Lannett during the fourth quarter worth $223,000. Virtu Financial LLC acquired a new stake in shares of Lannett during the fourth quarter worth $333,000. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Lannett by 190.2% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 65,300 shares of the company’s stock worth $1,514,000 after purchasing an additional 42,800 shares during the period. Finally, Schroder Investment Management Group acquired a new stake in shares of Lannett during the fourth quarter worth $3,506,000. 98.40% of the stock is currently owned by institutional investors.
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.
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