Lannett (NYSE:LCI) announced its earnings results on Wednesday. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05, Briefing.com reports. Lannett had a return on equity of 19.92% and a net margin of 4.19%. The business had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $145.79 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business’s revenue was up .1% compared to the same quarter last year.
Shares of NYSE:LCI traded up $1.54 during midday trading on Thursday, hitting $5.84. The company had a trading volume of 7,801,672 shares, compared to its average volume of 1,092,903. Lannett has a twelve month low of $3.33 and a twelve month high of $30.35. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.92 and a current ratio of 2.62. The stock has a market cap of $166.50 million, a PE ratio of 1.88 and a beta of 2.01.
Several equities research analysts recently commented on the company. Zacks Investment Research raised Lannett from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Roth Capital cut Lannett from a “buy” rating to a “neutral” rating and increased their price target for the company from $23.00 to $27.50 in a report on Monday, August 20th. BMO Capital Markets cut their price target on Lannett from $19.00 to $8.00 and set a “market perform” rating for the company in a report on Monday, August 20th. Raymond James cut Lannett from an “outperform” rating to a “market perform” rating and set a $43.00 price target for the company. in a report on Monday, August 20th. Finally, Craig Hallum cut Lannett from a “buy” rating to a “hold” rating in a report on Monday, August 20th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Lannett currently has an average rating of “Hold” and an average price target of $24.10.
Several large investors have recently bought and sold shares of the stock. Swiss National Bank grew its position in Lannett by 14.1% in the second quarter. Swiss National Bank now owns 55,700 shares of the company’s stock worth $758,000 after acquiring an additional 6,900 shares during the period. BlackRock Inc. grew its position in Lannett by 9.5% in the second quarter. BlackRock Inc. now owns 4,386,677 shares of the company’s stock worth $59,660,000 after acquiring an additional 381,177 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Lannett by 350.1% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,102 shares of the company’s stock worth $2,980,000 after acquiring an additional 170,425 shares during the period. Trexquant Investment LP purchased a new position in Lannett in the second quarter worth approximately $333,000. Finally, Paloma Partners Management Co purchased a new position in Lannett in the second quarter worth approximately $228,000. 97.24% of the stock is owned by hedge funds and other institutional investors.
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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