Hardy Reed LLC Increases Stake in Lantheus Holdings, Inc. $LNTH

Hardy Reed LLC increased its holdings in Lantheus Holdings, Inc. (NASDAQ:LNTH) by 97.3% during the second quarter, Holdings Channel.com reports. The firm owned 23,000 shares of the medical equipment provider’s stock after acquiring an additional 11,340 shares during the quarter. Hardy Reed LLC’s holdings in Lantheus were worth $1,882,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LNTH. TD Asset Management Inc boosted its stake in shares of Lantheus by 1,028.0% during the first quarter. TD Asset Management Inc now owns 682,614 shares of the medical equipment provider’s stock valued at $66,623,000 after purchasing an additional 622,100 shares during the period. Nuveen LLC bought a new stake in Lantheus during the 1st quarter valued at $55,941,000. Epoch Investment Partners Inc. purchased a new stake in Lantheus during the 1st quarter valued at $35,548,000. Assenagon Asset Management S.A. boosted its position in Lantheus by 1,196.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 336,237 shares of the medical equipment provider’s stock valued at $32,817,000 after buying an additional 310,301 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Lantheus by 129.2% in the 1st quarter. Mackenzie Financial Corp now owns 497,437 shares of the medical equipment provider’s stock worth $48,550,000 after acquiring an additional 280,381 shares during the last quarter. 99.06% of the stock is currently owned by hedge funds and other institutional investors.

Lantheus Stock Down 2.1%

LNTH stock opened at $52.70 on Tuesday. The business has a 50 day moving average of $55.99 and a 200 day moving average of $75.69. The firm has a market cap of $3.58 billion, a PE ratio of 14.02 and a beta of 0.09. Lantheus Holdings, Inc. has a twelve month low of $47.25 and a twelve month high of $118.21. The company has a quick ratio of 4.07, a current ratio of 4.29 and a debt-to-equity ratio of 0.49.

Lantheus (NASDAQ:LNTH) last released its earnings results on Wednesday, August 6th. The medical equipment provider reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Lantheus had a return on equity of 34.06% and a net margin of 17.82%.The company had revenue of $378.05 million during the quarter, compared to analysts’ expectations of $389.69 million. During the same period in the prior year, the company posted $1.80 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. On average, research analysts forecast that Lantheus Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Insider Activity at Lantheus

In related news, insider Farallon Partners L. L. C/Ca sold 3,365,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $56.15, for a total value of $188,944,750.00. Following the transaction, the insider directly owned 3,477,227 shares of the company’s stock, valued at approximately $195,246,296.05. This represents a 49.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rajiv A. Patel sold 3,365,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $56.15, for a total value of $188,944,750.00. Following the sale, the insider owned 3,477,227 shares in the company, valued at approximately $195,246,296.05. This represents a 49.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,812,000 shares of company stock worth $382,427,380. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LNTH shares. TD Cowen lowered their price objective on shares of Lantheus from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, September 15th. B. Riley lowered their price target on Lantheus from $109.00 to $84.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Mizuho cut their price objective on Lantheus from $120.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. JMP Securities decreased their target price on Lantheus from $112.00 to $73.00 and set a “market outperform” rating for the company in a report on Thursday, August 7th. Finally, William Blair reissued a “market perform” rating on shares of Lantheus in a research note on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

Lantheus Company Profile

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.