Equities analysts expect that Lannett Company, Inc. (NYSE:LCI) will report sales of $171.95 million for the current quarter, according to Zacks. Three analysts have issued estimates for Lannett’s earnings, with the highest sales estimate coming in at $172.15 million and the lowest estimate coming in at $171.70 million. Lannett posted sales of $139.12 million in the same quarter last year, which suggests a positive year over year growth rate of 23.6%. The company is scheduled to report its next earnings results on Wednesday, August 22nd.
On average, analysts expect that Lannett will report full-year sales of $685.66 million for the current financial year, with estimates ranging from $685.10 million to $686.00 million. For the next year, analysts anticipate that the firm will report sales of $673.78 million per share, with estimates ranging from $646.87 million to $729.80 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Lannett.
Several research analysts have commented on the stock. ValuEngine downgraded shares of Lannett from a “hold” rating to a “sell” rating in a report on Friday, April 27th. Zacks Investment Research raised shares of Lannett from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Oppenheimer reissued a “hold” rating on shares of Lannett in a report on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.40.
In other news, VP Kevin Smith sold 11,667 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $16.51, for a total transaction of $192,622.17. Following the sale, the vice president now owns 30,125 shares in the company, valued at approximately $497,363.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 14.72% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Lannett by 9.5% during the 2nd quarter. BlackRock Inc. now owns 4,386,677 shares of the company’s stock valued at $59,660,000 after purchasing an additional 381,177 shares in the last quarter. LSV Asset Management boosted its stake in Lannett by 12.1% during the first quarter. LSV Asset Management now owns 2,057,011 shares of the company’s stock worth $33,015,000 after acquiring an additional 221,476 shares in the last quarter. Northern Trust Corp boosted its stake in Lannett by 36.8% during the first quarter. Northern Trust Corp now owns 800,762 shares of the company’s stock worth $12,852,000 after acquiring an additional 215,228 shares in the last quarter. Heartland Advisors Inc. boosted its stake in Lannett by 32.8% during the second quarter. Heartland Advisors Inc. now owns 810,500 shares of the company’s stock worth $11,023,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Lannett by 350.1% during 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 in the last quarter.
Lannett traded down $0.10, hitting $13.55, during trading hours on Tuesday, Marketbeat reports. The stock had a trading volume of 443,357 shares, compared to its average volume of 536,615. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.56 and a quick ratio of 1.91. Lannett has a one year low of $11.90 and a one year high of $30.35. The company has a market cap of $518.89 million, a price-to-earnings ratio of 4.74 and a beta of 2.44.
Lannett Company Profile
Lannett Company, Inc develops, manufactures, packages, markets, and distributes generic versions of brand pharmaceutical products in the United States. The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.
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