Lantheus (NASDAQ:LNTH) Shares Gap Down Following Weak Earnings

Lantheus Holdings, Inc. (NASDAQ:LNTH) shares gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $109.77, but opened at $91.77. Lantheus shares last traded at $100.18, with a volume of 541,223 shares changing hands.

The medical equipment provider reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.07). The company had revenue of $394.10 million during the quarter, compared to analysts’ expectations of $382.12 million. Lantheus had a net margin of 29.80% and a return on equity of 51.41%. Lantheus’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share.

Wall Street Analyst Weigh In

LNTH has been the topic of several analyst reports. Mizuho raised their target price on shares of Lantheus from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 3rd. JMP Securities decreased their price objective on shares of Lantheus from $130.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday. Truist Financial dropped their price objective on shares of Lantheus from $141.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday. B. Riley upped their price target on Lantheus from $105.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered Lantheus from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $119.00.

Insider Activity

In related news, Director Heinz Christoph Maeusli sold 18,373 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $79.19, for a total transaction of $1,454,957.87. Following the sale, the director now owns 23,340 shares in the company, valued at approximately $1,848,294.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lantheus news, Director Gary J. Pruden sold 12,530 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $95.04, for a total transaction of $1,190,851.20. Following the sale, the director now owns 11,978 shares in the company, valued at $1,138,389.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heinz Christoph Maeusli sold 18,373 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $79.19, for a total value of $1,454,957.87. Following the completion of the transaction, the director now directly owns 23,340 shares in the company, valued at approximately $1,848,294.60. The disclosure for this sale can be found here. Insiders sold a total of 44,799 shares of company stock valued at $3,769,262 over the last three months. Insiders own 1.50% of the company’s stock.

Institutional Trading of Lantheus

Several institutional investors and hedge funds have recently bought and sold shares of LNTH. Jackson Creek Investment Advisors LLC grew its position in Lantheus by 8.0% in the 2nd quarter. Jackson Creek Investment Advisors LLC now owns 19,775 shares of the medical equipment provider’s stock worth $1,588,000 after purchasing an additional 1,469 shares during the period. Rhumbline Advisers lifted its holdings in shares of Lantheus by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 217,175 shares of the medical equipment provider’s stock valued at $17,437,000 after acquiring an additional 3,674 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in Lantheus in the 2nd quarter worth about $741,000. Natixis Advisors LLC raised its position in Lantheus by 19.9% in the 2nd quarter. Natixis Advisors LLC now owns 42,929 shares of the medical equipment provider’s stock worth $3,447,000 after purchasing an additional 7,118 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Lantheus during the second quarter worth approximately $6,253,000. 99.06% of the stock is currently owned by hedge funds and other institutional investors.

Lantheus Trading Down 1.0 %

The company has a market capitalization of $6.76 billion, a PE ratio of 14.90 and a beta of 0.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.84 and a quick ratio of 4.55. The company’s fifty day moving average is $91.79 and its 200-day moving average is $72.83.

About Lantheus

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, an injectable ultrasound enhancing agent used in echocardiography exams; TechneLite, a technetium generator for nuclear medicine procedures; Xenon-133, a radiopharmaceutical gas to assess pulmonary function; Neurolite, an injectable imaging agent 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 to assess blood flow to the muscle of the heart; and PYLARIFY, an F 18-labelled PSMA-targeted PET imaging agent used for imaging of PSMA positive-lesions in men with prostate cancer.