Analysts expect Lannett Company, Inc. (NYSE:LCI) to post sales of $192.54 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Lannett’s earnings, with estimates ranging from $190.20 million to $194.71 million. Lannett posted sales of $170.94 million in the same quarter last year, which suggests a positive year over year growth rate of 12.6%. The business is expected to issue its next earnings results on Wednesday, February 7th.
On average, analysts expect that Lannett will report full-year sales of $192.54 million for the current year, with estimates ranging from $710.09 million to $729.00 million. For the next fiscal year, analysts forecast that the company will report sales of $705.28 million per share, with estimates ranging from $662.00 million to $743.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for Lannett.
Lannett (NYSE:LCI) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. Lannett had a return on equity of 18.23% and a net margin of 6.67%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.77 earnings per share.
A number of research firms recently issued reports on LCI. ValuEngine lowered Lannett from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Oppenheimer reaffirmed a “hold” rating on shares of Lannett in a report on Monday, December 11th. BMO Capital Markets lifted their target price on Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, November 13th. Finally, Zacks Investment Research lowered Lannett from a “buy” rating to a “hold” rating in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $23.60.
In related news, major shareholder David Farber sold 9,816 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $30.05, for a total value of $294,970.80. Following the completion of the transaction, the insider now owns 4,190,169 shares in the company, valued at approximately $125,914,578.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arthur P. Bedrosian sold 50,000 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $26.75, for a total value of $1,337,500.00. Following the completion of the transaction, the chief executive officer now owns 636,616 shares of the company’s stock, valued at approximately $17,029,478. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,000 shares of company stock worth $3,681,091. 14.72% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Lannett by 49.6% in the 2nd 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 acquired a new position in shares of Lannett in the 3rd quarter valued at $188,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Lannett by 59.1% in the 3rd 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. acquired a new position in shares of Lannett in the 3rd quarter valued at $212,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Lannett in the 2nd quarter valued at $271,000. Institutional investors and hedge funds own 97.17% of the company’s stock.
Lannett (NYSE:LCI) opened at $24.75 on Friday. The stock has a market capitalization of $936.84, a PE ratio of 22.10, a P/E/G ratio of 1.63 and a beta of 2.85. Lannett has a fifty-two week low of $14.90 and a fifty-two week high of $30.35. The company has a current ratio of 2.52, a quick ratio of 1.90 and a debt-to-equity ratio of 1.44.
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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