Arizona State Retirement System boosted its holdings in shares of Lannett Co Inc (NYSE:LCI) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,362 shares of the company’s stock after purchasing an additional 100 shares during the period. Arizona State Retirement System’s holdings in Lannett Co were worth $313,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Lannett Co by 8.8% during the first quarter. Ameriprise Financial Inc. now owns 747,062 shares of the company’s stock valued at $16,698,000 after purchasing an additional 60,675 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Lannett Co by 33.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,651 shares of the company’s stock valued at $417,000 after acquiring an additional 4,625 shares in the last quarter. Swiss National Bank lifted its position in shares of Lannett Co by 3.8% in the 1st quarter. Swiss National Bank now owns 48,800 shares of the company’s stock valued at $1,091,000 after acquiring an additional 1,800 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Lannett Co in the 1st quarter valued at approximately $287,000. Finally, Nordea Investment Management AB lifted its position in shares of Lannett Co by 36.3% in the 1st quarter. Nordea Investment Management AB now owns 171,800 shares of the company’s stock valued at $3,840,000 after acquiring an additional 45,800 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.
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Shares of Lannett Co Inc (NYSE LCI) opened at 17.45 on Monday. The stock’s market cap is $650.61 million. The firm has a 50-day moving average of $17.59 and a 200-day moving average of $20.72. Lannett Co Inc has a 52-week low of $14.90 and a 52-week high of $33.53.
Lannett Co (NYSE:LCI) last issued its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The firm had revenue of $139.10 million during the quarter, compared to analysts’ expectations of $139.01 million. Lannett Co had a negative net margin of 0.09% and a positive return on equity of 19.80%. The business’s revenue for the quarter was down 17.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.73 earnings per share. On average, equities analysts expect that Lannett Co Inc will post $2.57 EPS for the current fiscal year.
Several equities research analysts recently commented on the stock. BMO Capital Markets restated a “market perform” rating and issued a $20.00 price target (down previously from $26.00) on shares of Lannett Co in a research report on Thursday, August 24th. BidaskClub downgraded shares of Lannett Co from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Lannett Co in a research report on Wednesday, August 23rd. Deutsche Bank AG reduced their price target on shares of Lannett Co from $23.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, August 14th. Finally, ValuEngine downgraded shares of Lannett Co from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.80.
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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