Lannett (LCI) Stock Price Down 5.2%

Lannett Company, Inc. (NYSE:LCI) shares fell 5.2% on Friday . The company traded as low as $15.45 and last traded at $15.65. 1,301,582 shares changed hands during mid-day trading, an increase of 78% from the average session volume of 732,870 shares. The stock had previously closed at $16.50.

A number of brokerages have recently weighed in on LCI. Zacks Investment Research lowered Lannett from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. Oppenheimer reissued a “hold” rating on shares of Lannett in a report on Monday, December 11th. ValuEngine raised Lannett from a “hold” rating to a “buy” rating in a report on Saturday, November 25th. Goldman Sachs began coverage on Lannett in a report on Wednesday, January 24th. They issued a “neutral” rating and a $21.00 price objective on the stock. Finally, BMO Capital Markets cut their price objective on Lannett from $22.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Lannett currently has an average rating of “Hold” and an average price target of $20.83.

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The company has a debt-to-equity ratio of 1.38, a current ratio of 2.32 and a quick ratio of 1.77. The company has a market capitalization of $628.20, a P/E ratio of 12.32, a P/E/G ratio of 1.06 and a beta of 2.63.

Lannett (NYSE:LCI) last issued its earnings results on Wednesday, February 7th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.20. Lannett had a return on equity of 18.85% and a net margin of 7.44%. The firm had revenue of $184.31 million for the quarter, compared to the consensus estimate of $190.92 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. equities analysts expect that Lannett Company, Inc. will post 3.13 earnings per share for the current year.

In other news, major shareholder David Farber sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the sale, the insider now owns 4,171,269 shares in the company, valued at $104,323,437.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.72% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of LCI. Neuberger Berman Group LLC purchased a new position in Lannett during the third quarter worth approximately $188,000. Municipal Employees Retirement System of Michigan boosted its position in Lannett by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 11,040 shares of the company’s stock worth $204,000 after purchasing an additional 4,100 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Lannett during the third quarter worth approximately $212,000. Teacher Retirement System of Texas purchased a new position in Lannett during the fourth quarter worth approximately $223,000. Finally, Unison Advisors LLC purchased a new position in Lannett during the fourth quarter worth approximately $273,000. Institutional investors own 98.40% of the company’s stock.

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About Lannett

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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