Lannett Company, Inc. (NYSE:LCI) major shareholder David Farber sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $25.01, for a total value of $250,100.00. Following the completion of the sale, the insider now directly owns 4,171,269 shares in the company, valued at $104,323,437.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
David Farber also recently made the following trade(s):
- On Wednesday, December 13th, David Farber sold 184 shares of Lannett stock. The stock was sold at an average price of $30.00, for a total value of $5,520.00.
- On Tuesday, December 5th, David Farber sold 9,816 shares of Lannett stock. The shares were sold at an average price of $30.05, for a total value of $294,970.80.
- On Friday, December 1st, David Farber sold 10,000 shares of Lannett stock. The shares were sold at an average price of $26.88, for a total value of $268,800.00.
- On Wednesday, November 8th, David Farber sold 10,000 shares of Lannett stock. The shares were sold at an average price of $25.03, for a total value of $250,300.00.
Shares of Lannett Company, Inc. (NYSE LCI) opened at $24.85 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.52 and a quick ratio of 1.90. The company has a market capitalization of $936.84, a PE ratio of 22.19, a price-to-earnings-growth ratio of 1.58 and a beta of 2.85. Lannett Company, Inc. has a 1 year low of $14.90 and a 1 year high of $30.35.
A number of research analysts have recently issued reports on the company. Zacks Investment Research downgraded 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 Lannett from a “hold” rating to a “buy” rating in a report on Saturday, November 25th. Finally, BMO Capital Markets increased their target price on Lannett from $20.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.60.
A number of institutional investors and hedge funds have recently modified their holdings of the business. SRS Capital Advisors Inc. increased its position in Lannett by 15,202.7% in the third quarter. SRS Capital Advisors Inc. now owns 16,833 shares of the company’s stock worth $310,000 after buying an additional 16,723 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Lannett in the third quarter worth about $188,000. California Public Employees Retirement System increased its position in Lannett by 3.9% in the third quarter. California Public Employees Retirement System now owns 81,146 shares of the company’s stock worth $1,497,000 after buying an additional 3,046 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Lannett in the third quarter worth about $700,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Lannett in the third quarter worth about $414,000. Institutional investors and hedge funds own 97.17% of the company’s stock.
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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