Telemus Capital buys $177,561,222 stake in Lannett Company (LCI)

Lannett Company (LCI) : Telemus Capital scooped up 1,242,237 additional shares in Lannett Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 5,854,310 shares of Lannett Company which is valued at $177,561,222.Lannett Company makes up approximately 20.44% of Telemus Capital’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in LCI in the latest quarter, The investment management firm added 2,010 additional shares and now holds a total of 14,270 shares of Lannett Company which is valued at $381,152. Lannett Company makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Creative Planning reduced its stake in LCI by selling 1,860 shares or 10.94% in the most recent quarter. The Hedge Fund company now holds 15,140 shares of LCI which is valued at $404,389.

Lannett Company opened for trading at $29.15 and hit $30.33 on the upside on Wednesday, eventually ending the session at $30.33, with a gain of 5.13% or 1.48 points. The heightened volatility saw the trading volume jump to 11,03,323 shares. Company has a market cap of $1,115 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.

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