Insider Selling: Lannett Company CEO Sells 5,000 Shares of Stock (LCI)
Lannett Company (NYSE:LCI) CEO Arthur P. Bedrosian sold 5,000 shares of the stock on the open market in a transaction dated Monday, June 16th. The stock was sold at an average price of $46.96, for a total transaction of $234,800.00. Following the completion of the transaction, the chief executive officer now directly owns 649,851 shares in the company, valued at approximately $30,517,003. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Lannett Company (NYSE:LCI) traded up 0.15% during mid-day trading on Wednesday, hitting $47.27. 473,784 shares of the company’s stock traded hands. Lannett Company has a 52-week low of $10.18 and a 52-week high of $48.613. The stock has a 50-day moving average of $40.05 and a 200-day moving average of $37.24. The company has a market cap of $1.681 billion and a price-to-earnings ratio of 42.45.
Lannett Company (NYSE:LCI) last released its earnings data on Wednesday, May 7th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $80.00 million for the quarter, compared to the consensus estimate of $84.50 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 105.0% on a year-over-year basis. Analysts expect that Lannett Company will post $1.75 EPS for the current fiscal year.
LCI has been the subject of a number of recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of Lannett Company in a research note on Tuesday, May 6th. They set a “buy” rating and a $55.00 price target on the stock. Analysts at Zacks downgraded shares of Lannett Company from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 9th. They now have a $37.80 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $42.95.
Lannett Company, Inc is engaged in developing, manufacturing, marketing and distributing generic versions of branded pharmaceutical products.
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