Lannett Co. (LCI) Stock Rating Lowered by TheStreet
Lannett Co. (NYSE:LCI) was downgraded by equities research analysts at TheStreet to a “hold” rating in a report released on Tuesday.
LCI has been the subject of several other reports. Zacks Investment Research cut shares of Lannett from a “hold” rating to a “sell” rating in a research note on Wednesday, August 3rd. Raymond James Financial Inc. raised their target price on shares of Lannett from $31.00 to $43.00 and gave the company an “outperform” rating in a research note on Wednesday, August 24th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Lannett in a research note on Tuesday, July 12th. Finally, Deutsche Bank AG assumed coverage on shares of Lannett in a research note on Wednesday, June 29th. They set a “hold” rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Lannett presently has a consensus rating of “Hold” and a consensus price target of $31.36.
Lannett (NYSE:LCI) traded up 1.270% during mid-day trading on Tuesday, reaching $21.925. 424,863 shares of the company’s stock traded hands. The stock has a market capitalization of $808.86 million, a PE ratio of 18.271 and a beta of 1.93. The stock has a 50-day moving average price of $29.40 and a 200-day moving average price of $25.95. Lannett has a 12-month low of $16.91 and a 12-month high of $49.44.
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Lannett (NYSE:LCI) last posted its earnings results on Tuesday, August 23rd. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The company earned $168.90 million during the quarter, compared to analysts’ expectations of $161.55 million. Lannett had a net margin of 7.91% and a return on equity of 23.75%. Lannett’s quarterly revenue was up 70.1% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. Equities research analysts expect that Lannett will post $3.39 EPS for the current year.
In other Lannett news, insider G. Michael Landis sold 6,786 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $33.41, for a total transaction of $226,720.26. Following the completion of the transaction, the insider now owns 4,580 shares in the company, valued at $153,017.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Maher sold 1,478 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $33.91, for a total transaction of $50,118.98. Following the transaction, the director now owns 20,320 shares of the company’s stock, valued at approximately $689,051.20. The disclosure for this sale can be found here. Company insiders own 15.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC purchased a new stake in Lannett during the second quarter valued at about $130,000. Acrospire Investment Management LLC raised its stake in Lannett by 13.7% in the second quarter. Acrospire Investment Management LLC now owns 6,656 shares of the company’s stock valued at $158,000 after buying an additional 800 shares during the period. BlackRock Inc. raised its stake in Lannett by 277.7% in the second quarter. BlackRock Inc. now owns 7,517 shares of the company’s stock valued at $179,000 after buying an additional 5,527 shares during the period. Adams Diversified Equity Fund Inc. purchased a new stake in Lannett during the second quarter valued at about $197,000. Finally, Fisher Asset Management LLC purchased a new stake in Lannett during the third quarter valued at about $203,000. Institutional investors and hedge funds own 78.88% of the company’s stock.
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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