Tudor Investment Corp ET AL increased its stake in shares of Lannett Co Inc (NYSE:LCI) by 49.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 14,800 shares of the company’s stock after buying an additional 4,900 shares during the period. Tudor Investment Corp ET AL’s holdings in Lannett Co were worth $331,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. boosted its stake in Lannett Co by 52,610.9% in the first quarter. BlackRock Inc. now owns 3,903,766 shares of the company’s stock worth $87,250,000 after buying an additional 3,896,360 shares during the last quarter. Snow Capital Management LP boosted its stake in Lannett Co by 22.5% in the first quarter. Snow Capital Management LP now owns 3,093,435 shares of the company’s stock worth $69,138,000 after buying an additional 567,800 shares during the last quarter. Vanguard Group Inc. boosted its stake in Lannett Co by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,733,431 shares of the company’s stock worth $61,093,000 after buying an additional 123,761 shares during the last quarter. LSV Asset Management boosted its stake in Lannett Co by 13.6% in the first quarter. LSV Asset Management now owns 1,691,935 shares of the company’s stock worth $37,814,000 after buying an additional 202,878 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Lannett Co by 592.6% in the first quarter. Morgan Stanley now owns 1,339,367 shares of the company’s stock worth $29,935,000 after buying an additional 1,145,987 shares during the last quarter. 95.69% of the stock is owned by hedge funds and other institutional investors.
Shares of Lannett Co Inc (NYSE:LCI) traded down 3.51% during mid-day trading on Tuesday, reaching $15.10. The company’s stock had a trading volume of 873,448 shares. The company’s market capitalization is $562.17 million. Lannett Co Inc has a 1-year low of $14.90 and a 1-year high of $39.99. The firm’s 50 day moving average price is $19.90 and its 200-day moving average price is $21.30.
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A number of brokerages have commented on LCI. BidaskClub cut Lannett Co from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Lannett Co from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets assumed coverage on Lannett Co in a research note on Monday, May 1st. They set a “market perform” rating and a $29.00 price objective for the company. ValuEngine lowered Lannett Co from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Roth Capital set a $27.00 price target on Lannett Co and gave the company a “buy” rating in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $26.83.
About Lannett Co
Lannett Company, Inc develops, manufactures, markets and distributes generic versions of brand pharmaceutical products. The Company manufactures and/or distributes prescription products with the exception of a small portfolio of over-the-counter products manufactured by its subsidiary, Silarx Pharmaceuticals, Inc As of June 30, 2016, the Company’s products included Acetazolamide Tablets; Butalbital, Acetaminophen and Caffeine Tablets; Butalbital, Aspirin and Caffeine Capsules; C-Topical Solution; Digoxin Tablets; Glycolax Rx; Isosorbide Mononitrate CR; Levothyroxine Sodium Tablets; Methylphenidate HCL CD; Methylphenidate ER; Nifedipine CR; Omeprazole DR; Oxbutynin ER; Pantoprazole DR; Pilocarpine HCl Tablets; Triamterene w/Hydrochlorothiazide Capsules, and Ursodiol Capsules.
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