A number of other research firms have also recently issued reports on LCI. Zacks Investment Research cut shares of Lannett from a buy rating to a hold rating in a report on Wednesday, December 13th. Oppenheimer reaffirmed a hold rating on shares of Lannett in a report on Monday, December 11th. ValuEngine raised shares of Lannett from a hold rating to a buy rating in a report on Saturday, November 25th. BMO Capital Markets raised their price target on shares of Lannett from $20.00 to $22.00 and gave the stock a market perform rating in a report on Monday, November 13th. Finally, Goldman Sachs Group began coverage on shares of Lannett in a report on Wednesday, January 24th. They issued a neutral rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Lannett presently has an average rating of Hold and a consensus price target of $20.83.
Shares of Lannett (NYSE LCI) opened at $17.95 on Wednesday. The firm has a market cap of $683.08, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 1.13 and a beta of 2.51. Lannett has a one year low of $14.90 and a one year high of $30.35. The company has a quick ratio of 1.90, a current ratio of 2.32 and a debt-to-equity ratio of 1.38.
In related news, CEO Arthur P. Bedrosian sold 50,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $26.75, for a total transaction 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 $17,029,478. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David Farber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $25.01, for a total transaction of $250,100.00. Following the transaction, the insider now directly owns 4,171,269 shares of the company’s stock, valued at approximately $104,323,437.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 122,578 shares of company stock valued at $3,243,757. 14.72% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of LCI. Frontier Capital Management Co. LLC purchased a new position in shares of Lannett during the fourth quarter worth $21,367,000. JPMorgan Chase & Co. raised its holdings in shares of Lannett by 296.7% during the third quarter. JPMorgan Chase & Co. now owns 306,106 shares of the company’s stock worth $5,678,000 after purchasing an additional 228,947 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of Lannett by 20.5% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,010,232 shares of the company’s stock worth $18,639,000 after purchasing an additional 171,751 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lannett by 6.2% during the second quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock worth $59,198,000 after purchasing an additional 168,454 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Lannett during the fourth quarter worth $3,506,000. 99.69% of the stock is owned by hedge funds and other institutional investors.
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Lannett 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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