Lannett Company, Inc. (NYSE:LCI) CEO Timothy C. Crew bought 4,000 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was purchased at an average price of $8.48 per share, with a total value of $33,920.00. Following the completion of the acquisition, the chief executive officer now owns 45,988 shares of the company’s stock, valued at $389,978.24. The purchase was disclosed in a filing with the SEC, which is available through this link.
Shares of LCI stock traded down $0.02 during trading on Monday, hitting $8.50. 1,871,449 shares of the company were exchanged, compared to its average volume of 1,752,688. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.88 and a current ratio of 2.44. The stock has a market cap of $334.72 million, a P/E ratio of 2.74 and a beta of 2.48. Lannett Company, Inc. has a twelve month low of $3.33 and a twelve month high of $18.30.
Lannett (NYSE:LCI) last posted its quarterly earnings results on Wednesday, February 6th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.68 by $0.18. The business had revenue of $193.70 million during the quarter, compared to analysts’ expectations of $162.51 million. Lannett had a negative net margin of 39.44% and a positive return on equity of 22.88%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. Sell-side analysts predict that Lannett Company, Inc. will post 2.13 EPS for the current year.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Lannett from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Raymond James reiterated a “hold” rating on shares of Lannett in a report on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.06.
Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Lannett by 582.7% during the third quarter. JPMorgan Chase & Co. now owns 684,622 shares of the company’s stock worth $3,251,000 after purchasing an additional 584,343 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Lannett during the third quarter worth approximately $2,555,000. Virtu Financial LLC acquired a new stake in shares of Lannett during the third quarter worth approximately $236,000. BlueMountain Capital Management LLC acquired a new stake in Lannett in the third quarter valued at approximately $306,000. Finally, Factorial Partners LLC lifted its stake in Lannett by 22.2% in the third quarter. Factorial Partners LLC now owns 71,500 shares of the company’s stock valued at $340,000 after acquiring an additional 13,000 shares during the last quarter. Institutional investors and hedge funds own 81.09% of the company’s stock.
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Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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