Capital Asset Advisory Services Lowers stake in Lannett Company (LCI)

Lannett Company (LCI) : Capital Asset Advisory Services reduced its stake in Lannett Company by 3.11% during the most recent quarter end. The investment management company now holds a total of 20,193 shares of Lannett Company which is valued at $526,028 after selling 648 shares in Lannett Company , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.Lannett Company makes up approximately 0.72% of Capital Asset Advisory Services’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in LCI by selling 1,327 shares or 17.63% in the most recent quarter. The Hedge Fund company now holds 6,200 shares of LCI which is valued at $161,510. Lannett Company makes up approx 0.01% of Cutler Group Lp’s portfolio.Simplex Trading reduced its stake in LCI by selling 2,794 shares or 57.11% in the most recent quarter. The Hedge Fund company now holds 2,098 shares of LCI which is valued at $53,688. Lannett Company makes up approx 0.01% of Simplex Trading’s portfolio.Telemus Capital boosted its stake in LCI in the latest quarter, The investment management firm added 627,816 additional shares and now holds a total of 6,482,126 shares of Lannett Company which is valued at $180,332,745. Lannett Company makes up approx 20.10% of Telemus Capital’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in LCI by selling 4,281 shares or 44.6% in the most recent quarter. The Hedge Fund company now holds 5,317 shares of LCI which is valued at $147,919. Eqis Capital Management sold out all of its stake in LCI during the most recent quarter. The investment firm sold 11,822 shares of LCI which is valued $328,888.

Lannett Company closed down -0.45 points or -1.73% at $25.6 with 6,63,332 shares getting traded on Tuesday. Post opening the session at $25.6, the shares hit an intraday low of $25.05 and an intraday high of $26.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Lannett Company reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $0.60. The company had revenue of $168.90 million for the quarter, compared to analysts expectations of $161.56 million. The company’s revenue was up 70.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.

Lannett Company Inc. develops manufactures markets and distributes generic versions of brand pharmaceutical products. The Company’s products include Levothyroxine Sodium tablets Digoxin tablets Butalbital products Ursodiol capsules and pain management products. Levothyroxine Sodium tablets are produced and marketed with around 12 varying potencies. Digoxin tablets are produced and marketed with approximately two different potencies. It distributes around three products containing Butalbital. Ursodiol capsules are produced and marketed in 300 milligram capsules. The Company offers a range of pain management products such as Cocaine Topical Solution (C-Topical) Morphine Sulfate Oral Solution Hydromorphone hydrochloric acid (HCl) tablets and Codeine Sulfate tablets.

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