Northern Trust Corp cut its holdings in Lannett Company, Inc. (NYSE:LCI) by 32.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,191 shares of the company’s stock after selling 191,896 shares during the period. Northern Trust Corp owned about 1.03% of Lannett worth $2,006,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Lannett by 70.9% in the 4th quarter. BlackRock Inc. now owns 4,765,936 shares of the company’s stock valued at $23,639,000 after purchasing an additional 1,976,599 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Lannett by 105.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,102,998 shares of the company’s stock valued at $5,470,000 after purchasing an additional 565,198 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Lannett by 582.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 684,622 shares of the company’s stock valued at $3,251,000 after purchasing an additional 584,343 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Lannett by 4.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 662,422 shares of the company’s stock valued at $3,146,000 after purchasing an additional 29,089 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Lannett by 223.6% in the 4th quarter. Prudential Financial Inc. now owns 240,778 shares of the company’s stock valued at $1,194,000 after purchasing an additional 166,370 shares in the last quarter. Institutional investors own 86.16% of the company’s stock.
Shares of NYSE:LCI traded down $0.08 during trading on Wednesday, hitting $6.05. 790,700 shares of the stock were exchanged, compared to its average volume of 1,511,169. The firm has a market capitalization of $241.06 million, a price-to-earnings ratio of 1.95 and a beta of 2.40. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.88 and a quick ratio of 2.12. Lannett Company, Inc. has a 12-month low of $3.33 and a 12-month high of $17.15.
Lannett (NYSE:LCI) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.06. Lannett had a positive return on equity of 25.79% and a negative net margin of 39.84%. The firm had revenue of $172.79 million during the quarter, compared to the consensus estimate of $155.55 million. During the same period in the previous year, the firm posted $0.80 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts anticipate that Lannett Company, Inc. will post 2.19 earnings per share for the current year.
In related news, Director Jeffrey Farber acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $5.80 per share, for a total transaction of $29,000.00. Following the transaction, the director now directly owns 2,101,054 shares of the company’s stock, valued at approximately $12,186,113.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 18,000 shares of company stock valued at $118,050 over the last 90 days. Insiders own 12.57% of the company’s stock.
LCI has been the topic of a number of analyst reports. ValuEngine raised Lannett from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research raised Lannett from a “hold” rating to a “strong-buy” rating and set a $9.75 price target on the stock in a research note on Saturday, February 9th. Finally, SunTrust Banks began coverage on Lannett in a research note on Tuesday, March 19th. They set a “hold” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $19.45.
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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