Lannett Co Inc (LCI) CEO Sells $1,071,000.00 in Stock

Lannett Co Inc (NYSE:LCI) CEO Arthur P. Bedrosian sold 42,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $25.50, for a total value of $1,071,000.00. Following the completion of the transaction, the chief executive officer now directly owns 636,616 shares in the company, valued at approximately $16,233,708. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Lannett Co Inc (NYSE LCI) traded up $1.95 during midday trading on Monday, hitting $27.50. The stock had a trading volume of 754,300 shares, compared to its average volume of 790,798. The firm has a market capitalization of $1,040.00, a price-to-earnings ratio of 10.22, a P/E/G ratio of 2.30 and a beta of 2.73. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.90 and a current ratio of 2.52. Lannett Co Inc has a 52 week low of $14.90 and a 52 week high of $27.90.

Lannett (NYSE:LCI) last released its quarterly earnings results on Monday, November 6th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.08. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $153.62 million. Lannett had a return on equity of 18.23% and a net margin of 6.67%. Lannett’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. analysts anticipate that Lannett Co Inc will post 2.99 EPS for the current fiscal year.

Several research firms have weighed in on LCI. ValuEngine raised Lannett from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Investment Research raised Lannett from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Friday, November 10th. BMO Capital Markets raised their price target on Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, November 13th. BidaskClub lowered Lannett from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG dropped their price target on Lannett from $23.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $22.80.

Several large investors have recently bought and sold shares of the stock. SRS Capital Advisors Inc. grew its holdings in shares of Lannett by 15,202.7% during 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 bought a new position in shares of Lannett during the third quarter worth about $188,000. California Public Employees Retirement System grew its holdings in shares of Lannett by 3.9% during 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 bought a new position in shares of Lannett during the third quarter worth about $700,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of Lannett during the third quarter worth about $414,000. Institutional investors and hedge funds own 96.83% of the company’s stock.

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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.

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