Lannett (LCI) Reports Financial Results

Lannett (NYSE: LCI) released its quarterly results on Wednesday, November 7th. The company reported earnings per share of $ 0.44 for the quarter, well above Zacks' consensus estimate of $ 0.39 per $ 0.05, reports Briefing.com. Lannett had a return on equity of 21.32% and a negative net margin of 39.74%. The business generated revenue of $ 155.10 million during the quarter, while badysts had prepared for $ 145.79 million. In the same period last year, the company had earnings per share of $ 0.60. The company's revenues increased by 0.1% year-over-year.

LCI advanced $ 0.35 on Thursday, reaching $ 5.76. 1,620,300 shares of the company were exchanged, compared to an average volume of 1,119,030. The company has a rapid ratio of 2.07, a current ratio of 2.87 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $ 215.02 million, a PE ratio of 1.86 and a beta of 2.01. Lannett has a 12-month minimum of $ 3.33 and a 12-month high of $ 30.35.

In the same vein, director Patrick G. Lepore acquired 25,000 shares of Lannett during a transaction on Friday, August 31. The shares were purchased at an average cost of $ 5.34 per share, for a total value of $ 133,500.00. As a result of the purchase, the director now holds directly 67,895 shares of the Company, valued at $ 362,559.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, available on the SEC's website. Over the past ninety days, insiders have acquired 29,000 shares of a corporation valued at $ 155,220. 14.72% of the stock is held by insiders of the company.

Hedge funds and other institutional investors have recently increased or decreased their stake in the company. Cutler Group LP increased its Lannett position by 204.8% in the second quarter. Cutler Group LP now holds 7,900 shares of the Company, valued at $ 107,000, following the purchase of an additional 15,436 shares during the period. Bank of Montreal Can acquired a new equity interest in Lannett's shares in the second quarter of approximately $ 168,000. Pinnacle Associates Ltd. increased its holdings of Lannett shares by 53.5% in the second quarter. Pinnacle Associates Ltd. now holds 16,435 shares valued at $ 224,000 after acquiring 5,725 additional shares during the period. Paloma Partners Management Co acquired a new stake in Lannett's shares in the second quarter for approximately $ 228,000. Finally, Trexquant Investment LP acquired a new equity interest in Lannett's second quarter shares valued at approximately $ 333,000. Institutional investors hold 95.65% of the shares of the company.

Several research badysts have recently commented on LCI's actions. TheStreet brought Lannett back from "c-" to "d +" in a research note on Friday, September 14th. Zacks Investment Research put Lannett from a "strong sell" rating to a "held" note in a report released on Tuesday, Oct. 23. Craig Hallum has lowered Lannett's rating from a "buy" rating to a "restrained" rating in a report released on Monday, August 20th. BMO Capital Markets lowered its target price on Lannett from $ 19.00 to $ 8.00 and awarded the company a "market performance" rating in a report released on Monday, August 20th. Finally, Raymond James lowered Lannett's "outperformance" rating to a "market performance" and set a target price of $ 43.00 for the company. in a report of Monday, August 20. One research badyst badigned a sales rating to the title and seven awarded a retention rating under the company. Lannett has a consensus rating of "Retention" and an average price target of $ 24.10.

NOTICE OF COPYRIGHT VIOLATION: "Lannett (LCI) Reports Financial Results" was first published by Baseball Daily News and is owned by Baseball Daily News. If you access this content on another domain, it has been illegally stolen and republished in violation of US and international trademark and copyright law. The legal version of this content can be viewed at https://www.baseballdailydigest.com/2018/11/15/lannett-lci-posts-earnings-results-beats-expectations-by-0-05 -eps. html.

Lannett Company Profile

Lannett Company, Inc. develops, manufactures, packages, markets and distributes generic versions of brand name pharmaceutical products in the United States. The company offers finished dosage forms of drugs for a range of therapeutic areas, as well as ophthalmic, patch, foam, oral, sublingual, suspension, soft gel and injectable solutions.

Featured article: How do investors use the RSI to rate stocks?

Get news and ratings for Lannett Daily – Enter your email address below to receive a concise daily summary of the latest news and badysts' ratings for Lannett and related companies with MarketBeat.com's FREE daily e-newsletter.