Tudor Investment Corp ET AL boosted its stake in Lannett Co Inc (NYSE:LCI) by 70.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,188 shares of the company’s stock after buying an additional 10,388 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.07% of Lannett Co worth $514,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in LCI. Voya Investment Management LLC raised its position in Lannett Co by 82.5% in the 2nd quarter. Voya Investment Management LLC now owns 46,757 shares of the company’s stock valued at $954,000 after purchasing an additional 21,131 shares during the last quarter. California Public Employees Retirement System raised its position in Lannett Co by 5.5% in the 2nd quarter. California Public Employees Retirement System now owns 78,100 shares of the company’s stock valued at $1,593,000 after purchasing an additional 4,100 shares during the last quarter. Vanguard Group Inc. raised its position in Lannett Co by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock valued at $59,198,000 after purchasing an additional 168,454 shares during the last quarter. Northern Trust Corp raised its position in Lannett Co by 2.3% in the 2nd quarter. Northern Trust Corp now owns 374,533 shares of the company’s stock valued at $7,641,000 after purchasing an additional 8,386 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its position in Lannett Co by 1,041.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 43,726 shares of the company’s stock valued at $892,000 after purchasing an additional 39,894 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and issued a $20.00 price objective (down previously from $26.00) on shares of Lannett Co in a research report on Thursday, August 24th. BidaskClub downgraded 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. Zacks Investment Research downgraded Lannett Co from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Finally, Deutsche Bank AG dropped their target price on Lannett Co from $23.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $21.80.
Shares of Lannett Co Inc (NYSE:LCI) opened at 21.05 on Wednesday. Lannett Co Inc has a 12-month low of $14.90 and a 12-month high of $27.90. The company has a 50-day moving average price of $18.00 and a 200-day moving average price of $20.18. The company’s market cap is $784.83 million.
Lannett Co (NYSE:LCI) last posted its quarterly earnings data on Wednesday, August 23rd. The company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Lannett Co had a positive return on equity of 19.80% and a negative net margin of 0.09%. The firm had revenue of $139.10 million during the quarter, compared to analyst estimates of $139.01 million. During the same period last year, the company posted $0.73 EPS. The business’s quarterly revenue was down 17.6% on a year-over-year basis. On average, analysts predict that Lannett Co Inc will post $2.57 earnings per share for the current year.
About Lannett Co
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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