Telemus Capital buys $180,332,745 stake in Lannett Company (LCI)

Lannett Company (LCI) : Telemus Capital scooped up 627,816 additional shares in Lannett Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 5, 2016. The investment management firm now holds a total of 6,482,126 shares of Lannett Company which is valued at $180,332,745.Lannett Company makes up approximately 20.10% of Telemus Capital’s portfolio.

Other Hedge Funds, Including , 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 opened for trading at $26.97 and hit $27.54 on the upside on Tuesday, eventually ending the session at $27.1, with a gain of 0.07% or 0.02 points. The heightened volatility saw the trading volume jump to 6,29,906 shares. Company has a market cap of $1,000 M.

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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