Arizona State Retirement System lowered its holdings in Lannett Company, Inc. (NYSE:LCI) by 43.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,324 shares of the company’s stock after selling 17,064 shares during the period. Arizona State Retirement System’s holdings in Lannett were worth $197,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alpha Windward LLC purchased a new stake in shares of Lannett in the fourth quarter valued at $461,000. Ackerman Capital Advisors LLC purchased a new stake in shares of Lannett in the fourth quarter valued at $230,000. Voloridge Investment Management LLC purchased a new stake in shares of Lannett in the third quarter valued at $560,000. Barclays PLC lifted its holdings in shares of Lannett by 76.6% in the third quarter. Barclays PLC now owns 150,612 shares of the company’s stock valued at $1,687,000 after purchasing an additional 65,343 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Lannett by 3.5% in the third quarter. Rhumbline Advisers now owns 109,460 shares of the company’s stock valued at $1,226,000 after purchasing an additional 3,740 shares in the last quarter.
LCI opened at $8.96 on Friday. The stock has a fifty day moving average of $8.82 and a 200-day moving average of $9.60. The firm has a market capitalization of $358.46 million, a P/E ratio of -74.67 and a beta of 2.24. Lannett Company, Inc. has a 12-month low of $5.16 and a 12-month high of $15.52. The company has a quick ratio of 1.29, a current ratio of 1.95 and a debt-to-equity ratio of 1.88.
Lannett (NYSE:LCI) last released its earnings results on Wednesday, February 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.27. The company had revenue of $136.11 million during the quarter, compared to analyst estimates of $128.60 million. Lannett had a positive return on equity of 18.75% and a negative net margin of 0.70%. The company’s revenue for the quarter was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, analysts expect that Lannett Company, Inc. will post 1.15 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the company. ValuEngine upgraded Lannett from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Zacks Investment Research upgraded Lannett from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 14th.
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 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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