Neuburgh Advisers LLC bought a new stake in shares of Lannett Company, Inc. (NYSE:LCI) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 14,824 shares of the company’s stock, valued at approximately $90,000.
Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Lannett by 105.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock valued at $55,000 after acquiring an additional 3,615 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of Lannett during the 2nd quarter valued at about $49,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Lannett during the 1st quarter valued at about $77,000. Riverhead Capital Management LLC acquired a new stake in shares of Lannett during the 2nd quarter valued at about $66,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Lannett during the 1st quarter valued at about $127,000. Institutional investors and hedge funds own 98.56% of the company’s stock.
In other news, Director Patrick G. Lepore purchased 25,000 shares of Lannett stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $9.82 per share, for a total transaction of $245,500.00. Following the completion of the transaction, the director now directly owns 201,340 shares in the company, valued at $1,977,158.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Albert Paonessa III sold 16,195 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $12.54, for a total transaction of $203,085.30. Following the completion of the transaction, the director now directly owns 45,945 shares of the company’s stock, valued at $576,150.30. The disclosure for this sale can be found here. 12.57% of the stock is owned by insiders.
Several brokerages have recently weighed in on LCI. SunTrust Banks lifted their target price on shares of Lannett to $10.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. ValuEngine upgraded shares of Lannett from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Roth Capital restated a “neutral” rating on shares of Lannett in a research report on Wednesday, August 28th. Finally, Zacks Investment Research upgraded shares of Lannett from a “hold” rating to a “strong-buy” rating and set a $9.25 price target on the stock in a research report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Lannett currently has a consensus rating of “Hold” and a consensus price target of $9.63.
NYSE:LCI traded up $1.20 on Friday, reaching $15.09. The stock had a trading volume of 159,941 shares, compared to its average volume of 3,500,540. The company has a market capitalization of $503.05 million, a P/E ratio of 6.43 and a beta of 2.19. Lannett Company, Inc. has a 1-year low of $3.33 and a 1-year high of $14.68. The company has a quick ratio of 1.86, a current ratio of 2.67 and a debt-to-equity ratio of 1.98. The stock has a fifty day moving average price of $7.99 and a 200-day moving average price of $7.16.
Lannett (NYSE:LCI) last released its quarterly earnings results on Tuesday, August 27th. The company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.16. The firm had revenue of $133.80 million for the quarter, compared to analyst estimates of $120.28 million. Lannett had a negative net margin of 41.52% and a positive return on equity of 28.00%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. Sell-side analysts predict that Lannett Company, Inc. will post 1.18 earnings per share for the current fiscal year.
Lannett Company Profile
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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