Lannett Company, Inc. to Post Q3 2018 Earnings of $0.95 Per Share, Oppenheimer Forecasts (LCI)

Lannett Company, Inc. (NYSE:LCI) – Equities researchers at Oppenheimer lifted their Q3 2018 EPS estimates for Lannett in a note issued to investors on Sunday. Oppenheimer analyst D. Archila now forecasts that the company will post earnings per share of $0.95 for the quarter, up from their previous estimate of $0.84. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Lannett’s FY2018 earnings at $3.38 EPS.

Lannett (NYSE:LCI) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $155.00 million during the quarter, compared to analyst estimates of $153.62 million. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share.

A number of other analysts have also issued reports on LCI. ValuEngine raised shares of Lannett from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Lannett from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, BMO Capital Markets increased their price target on shares of Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $23.60.

Lannett (LCI) traded up $0.05 during midday trading on Tuesday, hitting $23.05. 911,700 shares of the stock were exchanged, compared to its average volume of 660,657. The company has a quick ratio of 1.90, a current ratio of 2.52 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $865.21, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.49 and a beta of 2.85. Lannett has a 1-year low of $14.90 and a 1-year high of $30.35.

In other news, CEO Arthur P. Bedrosian sold 7,422 shares of Lannett stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $25.20, for a total value of $187,034.40. Following the transaction, the chief executive officer now owns 679,001 shares of the company’s stock, valued at $17,110,825.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Arthur P. Bedrosian sold 42,000 shares of Lannett stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total transaction of $1,071,000.00. Following the completion of the transaction, the chief executive officer now directly owns 636,616 shares in the company, valued at approximately $16,233,708. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,000 shares of company stock worth $3,681,091. Insiders own 14.72% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Lannett by 49.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock valued at $188,000 after purchasing an additional 3,061 shares during the period. Neuberger Berman Group LLC bought a new position in shares of Lannett in the third quarter valued at approximately $188,000. Municipal Employees Retirement System of Michigan raised its position in shares of Lannett by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,040 shares of the company’s stock valued at $204,000 after purchasing an additional 4,100 shares during the period. Hartford Investment Management Co. bought a new position in shares of Lannett in the third quarter valued at approximately $212,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Lannett by 15,202.7% in the third quarter. SRS Capital Advisors Inc. now owns 16,833 shares of the company’s stock valued at $310,000 after purchasing an additional 16,723 shares during the period. 97.14% of the stock is currently owned by institutional investors.

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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.

Earnings History and Estimates for Lannett (NYSE:LCI)

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