Credit Suisse AG increased its position in shares of Lannett Company, Inc. (NYSE:LCI) by 106.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 291,816 shares of the company’s stock after purchasing an additional 150,304 shares during the quarter. Credit Suisse AG owned 0.72% of Lannett worth $2,574,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in LCI. Metropolitan Life Insurance Co NY bought a new position in Lannett during the first quarter worth $77,000. California Public Employees Retirement System lifted its stake in Lannett by 13.7% during the third quarter. California Public Employees Retirement System now owns 83,198 shares of the company’s stock worth $932,000 after purchasing an additional 10,050 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Lannett by 312.5% during the third quarter. Tower Research Capital LLC TRC now owns 3,960 shares of the company’s stock worth $45,000 after purchasing an additional 3,000 shares during the last quarter. Virtu Financial LLC bought a new position in Lannett during the third quarter worth $343,000. Finally, Barclays PLC lifted its stake in Lannett by 76.6% during the third quarter. Barclays PLC now owns 150,612 shares of the company’s stock worth $1,687,000 after purchasing an additional 65,343 shares during the last quarter. Hedge funds and other institutional investors own 98.93% of the company’s stock.
Several brokerages recently issued reports on LCI. Zacks Investment Research upgraded Lannett from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. ValuEngine upgraded Lannett from a “strong sell” rating to a “sell” rating in a research note on Friday, January 3rd.
LCI stock opened at $7.12 on Thursday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.29 and a current ratio of 1.95. The stock has a market capitalization of $298.14 million, a price-to-earnings ratio of -59.33 and a beta of 1.76. Lannett Company, Inc. has a 1 year low of $5.16 and a 1 year high of $15.52. The stock’s fifty day moving average is $8.28 and its two-hundred day moving average is $9.76.
Lannett (NYSE:LCI) last posted its earnings results on Wednesday, February 5th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The company had revenue of $136.11 million for the quarter, compared to analysts’ expectations of $128.60 million. Lannett had a positive return on equity of 18.75% and a negative net margin of 0.70%. The firm’s quarterly revenue was down 29.7% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. As a group, analysts predict that Lannett Company, Inc. will post 1.15 EPS for the current fiscal year.
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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