Lannett Co. (NYSE:LCI)’s share price dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $30.84 and last traded at $30.98, with a volume of 555,011 shares. The stock had previously closed at $32.46.

LCI has been the subject of several analyst reports. Deutsche Bank AG initiated coverage on Lannett in a research report on Wednesday, June 29th. They set a “hold” rating and a $26.00 price objective for the company. Raymond James Financial Inc. upped their target price on Lannett from $31.00 to $43.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. Zacks Investment Research downgraded Lannett from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Lannett in a research report on Tuesday, July 12th. Finally, TheStreet upgraded Lannett from a “hold” rating to a “buy” rating in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $31.36.

The company has a market cap of $1.17 billion, a P/E ratio of 26.34 and a beta of 1.76. The stock’s 50-day moving average is $32.18 and its 200-day moving average is $25.04.

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Lannett (NYSE:LCI) last announced its quarterly earnings data on Tuesday, August 23rd. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.14. Lannett had a net margin of 7.91% and a return on equity of 23.75%. The firm had revenue of $168.90 million for the quarter, compared to analysts’ expectations of $161.55 million. During the same period last year, the firm earned $0.91 earnings per share. The business’s revenue for the quarter was up 70.1% on a year-over-year basis. Equities analysts forecast that Lannett Co. will post $3.39 EPS for the current fiscal year.

In other news, insider G. Michael Landis sold 4,334 shares of Lannett stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $32.30, for a total transaction of $139,988.20. Following the transaction, the insider now directly owns 6,461 shares of the company’s stock, valued at $208,690.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James M. Maher sold 1,478 shares of Lannett stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $33.91, for a total transaction of $50,118.98. Following the transaction, the director now directly owns 20,320 shares in the company, valued at $689,051.20. The disclosure for this sale can be found here. 15.10% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC purchased a new position in shares of Lannett during the first quarter worth $105,000. Legal & General Group Plc boosted its position in shares of Lannett by 4.4% in the first quarter. Legal & General Group Plc now owns 6,620 shares of the company’s stock worth $117,000 after buying an additional 282 shares in the last quarter. Mason Street Advisors LLC purchased a new position in shares of Lannett during the second quarter worth $130,000. BlackRock Inc. boosted its position in shares of Lannett by 277.7% in the second quarter. BlackRock Inc. now owns 7,517 shares of the company’s stock worth $179,000 after buying an additional 5,527 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new position in shares of Lannett during the second quarter worth $197,000. 77.22% of the stock is currently owned by institutional investors.

Lannett Company Profile

Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company’s products include Levothyroxine Sodium tablets, Digoxin tablets, Butalbital products, Ursodiol capsules and pain management products. Levothyroxine Sodium tablets are produced and marketed with around 12 varying potencies.

5 Day Chart for NYSE:LCI

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