Lannett (LCI) Posts Earnings Results, Beats Expectations By $0.20 EPS

Lannett (NYSE:LCI) posted its quarterly earnings results on Wednesday. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.20, Briefing.com reports. Lannett had a net margin of 6.67% and a return on equity of 18.23%. The company had revenue of $184.31 million for the quarter, compared to the consensus estimate of $190.92 million. During the same period last year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year.

Lannett (NYSE:LCI) traded down $2.38 during trading hours on Thursday, reaching $18.02. 1,202,308 shares of the company traded hands, compared to its average volume of 664,160. 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 has a twelve month low of $14.90 and a twelve month high of $30.35. The firm has a market cap of $679.54, a P/E ratio of 14.19, a PEG ratio of 1.26 and a beta of 2.51.

In related news, major shareholder David Farber sold 10,000 shares of Lannett stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $25.01, for a total transaction of $250,100.00. Following the sale, the insider now directly owns 4,171,269 shares in the company, valued at approximately $104,323,437.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arthur P. Bedrosian sold 42,000 shares of Lannett stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $25.50, for a total transaction of $1,071,000.00. Following the sale, the chief executive officer now owns 636,616 shares in the company, valued at $16,233,708. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,578 shares of company stock worth $3,243,757. 14.72% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on LCI shares. ValuEngine upgraded shares of Lannett from a “hold” rating to a “buy” rating in a research note on Saturday, November 25th. Zacks Investment Research downgraded shares of Lannett from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Oppenheimer restated a “hold” rating on shares of Lannett in a research note on Wednesday. Goldman Sachs Group started coverage on shares of Lannett in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $21.00 price target on the stock. Finally, BMO Capital Markets raised their price target on shares of Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Lannett presently has a consensus rating of “Hold” and an average price target of $23.00.

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About Lannett

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.

Earnings History for Lannett (NYSE:LCI)

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