Lannett Company (LCI) : Clark Estates Incny has sold out all of its stake in Lannett Company during the most recent quarter, according to the disclosure filed by the company on Aug 1, 2016 with the SEC. The investment management company has sold out 65,000 shares of Lannett Company which is valued at $2,024,750.
Other Hedge Funds, Including , Emerald Advisers Incpa sold out all of its stake in LCI during the most recent quarter. The investment firm sold 80,860 shares of LCI which is valued $2,524,449.Alps Advisors Inc boosted its stake in LCI in the latest quarter, The investment management firm added 50,751 additional shares and now holds a total of 72,175 shares of Lannett Company which is valued at $2,259,078. Lannett Company makes up approx 0.02% of Alps Advisors Inc’s portfolio. Integrated Investment Consultants added LCI to its portfolio by purchasing 70 company shares during the most recent quarter which is valued at $1,727.
Lannett Company opened for trading at $31.1 and hit $32.13 on the upside on Thursday, eventually ending the session at $31.78, with a gain of 2.02% or 0.63 points. The heightened volatility saw the trading volume jump to 6,29,735 shares. Company has a market cap of $1,168 M.
On the company’s financial health, Lannett Company reported $0.75 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.63. The company had revenue of $163.70 million for the quarter, compared to analysts expectations of $161.62 million. The company’s revenue was up 64.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 EPS.
Many Wall Street Analysts have commented on Lannett Company. Deutsche Bank Initiated Lannett Company on Jun 29, 2016 to “Hold”, Price Target of the shares are set at $26.
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.