Lannett (NYSE:LCI) released its earnings results on Tuesday. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.16, Briefing.com reports. The business had revenue of $133.80 million for the quarter, compared to analyst estimates of $120.28 million. Lannett had a positive return on equity of 28.18% and a negative net margin of 41.52%. The company’s revenue for the quarter was down 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share.
Lannett stock opened at $8.88 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.88 and a quick ratio of 2.12. Lannett has a 1-year low of $3.33 and a 1-year high of $10.45. The company has a market cap of $237.12 million, a PE ratio of 3.78 and a beta of 2.41. The stock’s 50 day moving average price is $6.55 and its 200 day moving average price is $7.02.
Several institutional investors have recently bought and sold shares of LCI. Optimum Investment Advisors purchased a new stake in shares of Lannett in the first quarter valued at approximately $39,000. Glen Harbor Capital Management LLC purchased a new stake in shares of Lannett in the second quarter valued at approximately $42,000. Aperio Group LLC purchased a new stake in shares of Lannett in the second quarter valued at approximately $49,000. BNP Paribas Arbitrage SA boosted its stake in shares of Lannett by 105.4% in the first quarter. BNP Paribas Arbitrage SA now owns 7,046 shares of the company’s stock valued at $55,000 after buying an additional 3,615 shares in the last quarter. Finally, Tyers Asset Management LLC purchased a new stake in shares of Lannett in the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.
Lannett Company Profile
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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