Lantheus (NASDAQ:LNTH) Sets New 1-Year High on Strong Earnings

Lantheus Holdings, Inc. (NASDAQ:LNTHGet Rating)’s stock price hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $81.00 and last traded at $71.99, with a volume of 32651 shares trading hands. The stock had previously closed at $75.89.

The medical equipment provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.25. The firm had revenue of $223.80 million for the quarter, compared to analyst estimates of $204.51 million. Lantheus had a negative net margin of 6.89% and a positive return on equity of 19.83%. The business’s quarterly revenue was up 121.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LNTH. B. Riley began coverage on shares of Lantheus in a research report on Monday, May 9th. They set a “buy” rating and a $91.00 target price for the company. Truist Financial boosted their target price on shares of Lantheus from $77.00 to $94.00 in a research report on Monday, May 2nd. Finally, SVB Leerink boosted their target price on shares of Lantheus from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday.

Insiders Place Their Bets

In other Lantheus news, CAO Andrea Sabens sold 386 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $69.12, for a total value of $26,680.32. Following the completion of the transaction, the chief accounting officer now owns 64,255 shares in the company, valued at $4,441,305.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Lantheus news, CAO Andrea Sabens sold 386 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $69.12, for a total value of $26,680.32. Following the completion of the transaction, the chief accounting officer now owns 64,255 shares in the company, valued at $4,441,305.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary Anne Heino sold 12,276 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $61.19, for a total transaction of $751,168.44. Following the completion of the transaction, the chief executive officer now owns 695,115 shares of the company’s stock, valued at approximately $42,534,086.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,798 shares of company stock worth $1,676,307. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Lantheus by 17.0% during the 4th quarter. Principal Financial Group Inc. now owns 555,077 shares of the medical equipment provider’s stock worth $16,036,000 after purchasing an additional 80,665 shares during the last quarter. Sciencast Management LP acquired a new position in shares of Lantheus during the 1st quarter worth about $307,000. Assenagon Asset Management S.A. raised its position in shares of Lantheus by 332.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 251,845 shares of the medical equipment provider’s stock worth $13,930,000 after purchasing an additional 193,585 shares during the last quarter. Congress Wealth Management LLC DE acquired a new position in shares of Lantheus during the 4th quarter worth about $6,329,000. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Lantheus during the 4th quarter worth about $9,534,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Lantheus Stock Performance

The stock has a market cap of $5.39 billion, a price-to-earnings ratio of -137.84 and a beta of 0.79. The company has a current ratio of 1.83, a quick ratio of 1.64 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $67.85 and its two-hundred day moving average is $55.56.

About Lantheus

(Get Rating)

Lantheus Holdings, Inc develops, manufactures, and commercializes diagnostic and therapeutic products that assist clinicians in the diagnosis and treatment of heart, cancer, and other diseases worldwide. It provides DEFINITY, a microbubble ultrasound enhancing agent used in ultrasound exams of the heart; TechneLite, a technetium generator for nuclear medicine; Xenon-133 to assess pulmonary function; Neurolite to identify the area within the brain where blood flow has been blocked or reduced due to stroke; Cardiolite, an injectable Tc-99m-labeled imaging agent; Thallium-201 to detect cardiovascular disease; and Gallium-67 to detect various infections and cancerous tumors.

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