FY2018 EPS Estimates for Lannett Co Inc (LCI) Raised by Oppenheimer Holdings
Lannett Co Inc (NYSE:LCI) – Analysts at Oppenheimer Holdings increased their FY2018 earnings estimates for shares of Lannett Co in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst D. Archila now anticipates that the company will earn $2.91 per share for the year, up from their previous forecast of $2.71. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Lannett Co’s FY2021 earnings at $2.82 EPS and FY2022 earnings at $2.69 EPS.
A number of other research firms have also commented on LCI. BidaskClub lowered shares of Lannett Co from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of Lannett Co from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Roth Capital set a $27.00 price target on shares of Lannett Co and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Deutsche Bank AG reissued a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Lannett Co in a research report on Monday, July 17th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $20.00 price target (down previously from $26.00) on shares of Lannett Co in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.80.
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Shares of Lannett Co (LCI) traded down 0.71% on Thursday, hitting $20.95. 252,428 shares of the stock traded hands. The stock has a 50-day moving average price of $18.16 and a 200 day moving average price of $20.19. Lannett Co has a 12-month low of $14.90 and a 12-month high of $27.90. The stock’s market cap is $781.10 million.
Lannett Co (NYSE:LCI) last released its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The company had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.01 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The business’s quarterly revenue was down 17.6% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the stock. CS Mckee LP boosted its stake in Lannett Co by 0.6% during the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock worth $722,000 after buying an additional 200 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Lannett Co by 1.3% during the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock worth $456,000 after buying an additional 297 shares in the last quarter. Royal Bank of Canada boosted its stake in Lannett Co by 10.6% during the second quarter. Royal Bank of Canada now owns 18,374 shares of the company’s stock worth $374,000 after buying an additional 1,756 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in Lannett Co by 70.2% during the second quarter. Tudor Investment Corp ET AL now owns 25,188 shares of the company’s stock worth $514,000 after buying an additional 10,388 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Lannett Co by 82.5% during the second quarter. Voya Investment Management LLC now owns 46,757 shares of the company’s stock worth $954,000 after buying an additional 21,131 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
About Lannett Co
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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