Lannett Company, Inc. (NYSE:LCI) – Equities research analysts at Oppenheimer raised their Q3 2018 earnings estimates for shares of Lannett in a research note issued on Monday. Oppenheimer analyst D. Archila now forecasts that the company will post earnings of $0.84 per share for the quarter, up from their previous estimate of $0.80. Oppenheimer has a “Hold” rating on the stock. Oppenheimer also issued estimates for Lannett’s FY2018 earnings at $3.16 EPS and FY2019 earnings at $2.77 EPS.
Lannett (NYSE:LCI) last released its quarterly earnings data on Monday, November 6th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.52 by $0.08. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The business had revenue of $155.00 million for the quarter, compared to the consensus estimate of $153.62 million. During the same period in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis.
Several other research firms have also recently issued reports on LCI. Zacks Investment Research cut shares of Lannett from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. BMO Capital Markets boosted their target price on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, November 13th. Finally, Roth Capital set a $27.00 target price on shares of Lannett and gave the company a “buy” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.60.
Lannett (NYSE:LCI) traded down $0.80 on Wednesday, hitting $28.10. 752,400 shares of the company traded hands, compared to its average volume of 797,738. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52. Lannett has a 1 year low of $14.90 and a 1 year high of $30.35. The firm has a market cap of $1,089.52, a PE ratio of 10.74, a P/E/G ratio of 1.90 and a beta of 2.85.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in shares of Lannett by 0.7% in the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock valued at $313,000 after buying an additional 100 shares during the last quarter. CS Mckee LP raised its position in shares of Lannett by 0.6% in the second quarter. CS Mckee LP now owns 35,400 shares of the company’s stock valued at $722,000 after buying an additional 200 shares during the last quarter. Texas Permanent School Fund raised its position in shares of Lannett by 1.0% in the second quarter. Texas Permanent School Fund now owns 21,474 shares of the company’s stock valued at $438,000 after buying an additional 203 shares during the last quarter. Rhumbline Advisers raised its position in shares of Lannett by 0.4% in the second quarter. Rhumbline Advisers now owns 61,600 shares of the company’s stock valued at $1,257,000 after buying an additional 244 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Lannett by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,366 shares of the company’s stock valued at $456,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 97.27% of the company’s stock.
In other Lannett news, CEO Arthur P. Bedrosian sold 42,000 shares of the company’s stock in a transaction 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 $16,233,708. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David Farber sold 9,816 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $30.05, for a total transaction of $294,970.80. Following the transaction, the insider now owns 4,190,169 shares of the company’s stock, valued at $125,914,578.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,816 shares of company stock valued at $3,425,471. Company insiders own 14.72% 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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