Tudor Investment Corp Et Al reduced its position in shares of Lannett Company, Inc. (NYSE:LCI) by 36.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,900 shares of the company’s stock after selling 5,777 shares during the period. Tudor Investment Corp Et Al’s holdings in Lannett Company were worth $218,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in LCI. Municipal Employees Retirement System of Michigan increased its stake in shares of Lannett Company by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,200 shares of the company’s stock worth $165,000 after buying an additional 100 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Lannett Company by 10.5% in the third quarter. Acrospire Investment Management LLC now owns 7,356 shares of the company’s stock worth $195,000 after buying an additional 700 shares in the last quarter. Fisher Asset Management LLC purchased a new stake in shares of Lannett Company during the third quarter worth $203,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Lannett Company during the third quarter worth $205,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Lannett Company by 39.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,037 shares of the company’s stock worth $244,000 after buying an additional 3,142 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.
Shares of Lannett Company, Inc. (NYSE:LCI) opened at 21.45 on Friday. The firm’s market capitalization is $797.70 million. Lannett Company, Inc. has a 12 month low of $16.75 and a 12 month high of $39.99. The company has a 50 day moving average of $21.73 and a 200-day moving average of $23.35.
Lannett Company (NYSE:LCI) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. The company had revenue of $171 million for the quarter, compared to analyst estimates of $169.04 million. Lannett Company had a positive return on equity of 21.95% and a negative net margin of 3.48%. The firm’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Analysts predict that Lannett Company, Inc. will post $3.44 EPS for the current year.
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A number of analysts recently weighed in on LCI shares. Zacks Investment Research upgraded shares of Lannett Company from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, January 4th. Roth Capital set a $28.00 price target on shares of Lannett Company and gave the company a “buy” rating in a research report on Thursday, February 2nd. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Lannett Company in a research report on Tuesday, December 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $29.50.
In related news, CEO Arthur P. Bedrosian acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were bought at an average cost of $20.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the chief executive officer now directly owns 688,909 shares in the company, valued at $13,778,180. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.04% of the stock is owned by insiders.
About Lannett Company
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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