Public Employees Retirement System of Ohio decreased its position in Lannett Co Inc (NYSE:LCI) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,675 shares of the company’s stock after selling 2,254 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of Lannett Co worth $381,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Lannett Co by 77.6% during the second quarter. State of Alaska Department of Revenue now owns 5,753 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Lannett Co by 4.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the company’s stock worth $142,000 after buying an additional 300 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Lannett Co by 49.6% during the second quarter. BNP Paribas Arbitrage SA now owns 9,235 shares of the company’s stock worth $188,000 after buying an additional 3,061 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Lannett Co during the second quarter worth approximately $271,000. Finally, Arizona State Retirement System lifted its holdings in shares of Lannett Co by 0.7% during the second quarter. Arizona State Retirement System now owns 15,362 shares of the company’s stock worth $313,000 after buying an additional 100 shares during the last quarter. 71.58% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Arthur P. Bedrosian sold 7,422 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $25.20, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David Farber sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $25.03, for a total value of $250,300.00. Following the transaction, the insider now directly owns 4,211,069 shares in the company, valued at approximately $105,403,057.07. The disclosure for this sale can be found here. 15.04% of the stock is currently owned by corporate insiders.
A number of research analysts have recently commented on LCI shares. Deutsche Bank AG reiterated a “hold” rating and set a $23.00 price target (up from $22.00) on shares of Lannett Co in a report on Monday, July 17th. Zacks Investment Research upgraded Lannett Co from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, July 18th. BidaskClub cut Lannett Co from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Roth Capital set a $27.00 price objective on Lannett Co and gave the company a “buy” rating in a research report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a research report on Wednesday, August 23rd. One equities 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 presently has a consensus rating of “Hold” and a consensus price target of $22.80.
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Shares of Lannett Co Inc (NYSE LCI) opened at $24.15 on Tuesday. Lannett Co Inc has a 1 year low of $14.90 and a 1 year high of $27.90. The firm has a market capitalization of $887.07, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 2.05 and a beta of 2.73. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.52 and a quick ratio of 1.90.
Lannett Co (NYSE:LCI) last announced its earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. The company had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $153.62 million. Lannett Co had a return on equity of 18.23% and a net margin of 6.67%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. equities research analysts anticipate that Lannett Co Inc will post 2.87 EPS for the current fiscal year.
Lannett Co Company Profile
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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