Chicago Equity Partners LLC Takes $715,000 Position in Lannett Company, Inc. (LCI)

Chicago Equity Partners LLC bought a new position in Lannett Company, Inc. (NYSE:LCI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,835 shares of the company’s stock, valued at approximately $715,000.

Several other institutional investors have also modified their holdings of LCI. Frontier Capital Management Co. LLC acquired a new stake in shares of Lannett in the fourth quarter worth $21,367,000. JPMorgan Chase & Co. boosted its position in shares of Lannett by 296.7% in the third quarter. JPMorgan Chase & Co. now owns 306,106 shares of the company’s stock worth $5,678,000 after buying an additional 228,947 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of Lannett by 20.5% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,010,232 shares of the company’s stock worth $18,639,000 after buying an additional 171,751 shares during the period. Vanguard Group Inc. boosted its position in shares of Lannett by 6.2% in the second quarter. Vanguard Group Inc. now owns 2,901,885 shares of the company’s stock worth $59,198,000 after buying an additional 168,454 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Lannett by 27.0% in the third quarter. Russell Investments Group Ltd. now owns 669,298 shares of the company’s stock worth $12,349,000 after buying an additional 142,278 shares during the period. 99.69% of the stock is owned by institutional investors and hedge funds.

In other Lannett news, CEO Arthur P. Bedrosian sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $26.75, for a total transaction of $1,337,500.00. Following the transaction, the chief executive officer now directly owns 636,616 shares in the company, valued at $17,029,478. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David Farber sold 9,816 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $30.05, for a total value of $294,970.80. Following the transaction, the insider now owns 4,190,169 shares in the company, valued at $125,914,578.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,578 shares of company stock worth $3,243,757. Corporate insiders own 14.72% of the company’s stock.

Shares of Lannett Company, Inc. (NYSE:LCI) opened at $17.95 on Friday. The company has a current ratio of 2.52, a quick ratio of 1.90 and a debt-to-equity ratio of 1.44. Lannett Company, Inc. has a 1-year low of $14.90 and a 1-year high of $30.35. The stock has a market capitalization of $676.71, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.30 and a beta of 2.51.

Lannett (NYSE:LCI) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.20. Lannett had a return on equity of 19.09% and a net margin of 7.44%. The business had revenue of $184.31 million during the quarter, compared to analyst estimates of $190.92 million. During the same period last year, the company earned $0.92 earnings per share. Lannett’s quarterly revenue was up 7.8% compared to the same quarter last year. analysts predict that Lannett Company, Inc. will post 3.14 EPS for the current year.

LCI has been the subject of several recent research reports. Zacks Investment Research upgraded Lannett from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Monday, December 11th. BMO Capital Markets increased their price objective on Lannett from $20.00 to $22.00 and gave the stock a “market perform” rating in a report on Monday, November 13th. ValuEngine upgraded Lannett from a “hold” rating to a “buy” rating in a report on Saturday, November 25th. Oppenheimer reiterated a “hold” rating on shares of Lannett in a report on Monday, December 11th. Finally, Goldman Sachs Group initiated coverage on Lannett in a report on Wednesday, January 24th. They set a “neutral” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Lannett has an average rating of “Hold” and a consensus price target of $20.83.

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Lannett Company Profile

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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Institutional Ownership by Quarter for Lannett (NYSE:LCI)

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