Parametric Portfolio Associates LLC lessened its stake in Lannett Company, Inc. (NYSE:LCI) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,537 shares of the company’s stock after selling 43,737 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.58% of Lannett worth $1,623,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Lannett in the 4th quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of Lannett in the 4th quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Lannett in the 1st quarter valued at $42,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Lannett in the 1st quarter valued at $77,000. Finally, Aperio Group LLC acquired a new position in shares of Lannett in the 1st quarter valued at $77,000. Institutional investors own 91.31% of the company’s stock.
In related news, Director David A. Drabik sold 37,220 shares of Lannett stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $7.37, for a total transaction of $274,311.40. Following the sale, the director now owns 45,972 shares of the company’s stock, valued at approximately $338,813.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.86% of the company’s stock.
NYSE:LCI opened at $7.09 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.37 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $288.11 million, a price-to-earnings ratio of -8.65 and a beta of 1.85. The firm’s fifty day simple moving average is $7.41 and its 200 day simple moving average is $8.19. Lannett Company, Inc. has a twelve month low of $5.46 and a twelve month high of $15.52.
Lannett (NYSE:LCI) last posted its earnings results on Wednesday, May 6th. The company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The business had revenue of $144.37 million for the quarter, compared to analyst estimates of $134.55 million. Lannett had a negative net margin of 5.77% and a positive return on equity of 14.54%. The business’s revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. On average, analysts predict that Lannett Company, Inc. will post 1.04 earnings per share for the current year.
Lannett Company Profile
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral and extended release, topical, liquid, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, suspension, soft gel, and injectable dosages.
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