Lannett Company, Inc. (NYSE:LCI) – Stock analysts at Oppenheimer cut their Q3 2018 earnings per share (EPS) estimates for shares of Lannett in a report released on Wednesday. Oppenheimer analyst D. Archila now expects that the company will post earnings per share of $0.76 for the quarter, down from their prior forecast of $0.95. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for Lannett’s Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $3.12 EPS, FY2019 earnings at $3.08 EPS, FY2020 earnings at $2.84 EPS and FY2021 earnings at $2.91 EPS.
LCI has been the subject of a number of other research reports. BMO Capital Markets raised their price objective on Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, November 13th. Zacks Investment Research cut Lannett from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. ValuEngine raised Lannett from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Goldman Sachs Group started coverage on Lannett in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $21.00 price objective for the company. Finally, Roth Capital set a $25.00 price objective on Lannett and gave the stock a “buy” rating in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.83.
Lannett (NYSE:LCI) last announced its earnings results on Wednesday, February 7th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.20. The business had revenue of $184.31 million for the quarter, compared to analysts’ expectations of $190.92 million. Lannett had a return on equity of 18.85% and a net margin of 7.44%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS.
Institutional investors and hedge funds have recently modified their holdings of the business. Voya Investment Management LLC lifted its position in Lannett by 82.5% during the 2nd quarter. Voya Investment Management LLC now owns 46,757 shares of the company’s stock worth $954,000 after acquiring an additional 21,131 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Lannett by 6.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 153,632 shares of the company’s stock valued at $3,135,000 after buying an additional 9,005 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Lannett during the 4th quarter valued at about $21,367,000. SG Americas Securities LLC raised its stake in shares of Lannett by 53.2% during the 3rd quarter. SG Americas Securities LLC now owns 70,667 shares of the company’s stock valued at $1,304,000 after buying an additional 24,544 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of Lannett by 192.7% during the 3rd quarter. Nationwide Fund Advisors now owns 77,123 shares of the company’s stock valued at $1,423,000 after buying an additional 50,774 shares during the last quarter. 99.69% of the stock is owned by institutional investors.
In other Lannett news, CEO Arthur P. Bedrosian sold 50,000 shares of Lannett stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $26.75, for a total transaction of $1,337,500.00. Following the completion of the sale, the chief executive officer now owns 636,616 shares of the company’s stock, valued at approximately $17,029,478. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Arthur P. Bedrosian sold 42,000 shares of Lannett stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $25.50, for a total value of $1,071,000.00. Following the sale, the chief executive officer now directly owns 636,616 shares of the company’s stock, valued at approximately $16,233,708. The disclosure for this sale can be found here. Insiders sold a total of 122,578 shares of company stock valued at $3,243,757 in the last three months. Insiders own 14.72% of the company’s stock.
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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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