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

Defense World · Aug 6, 2022 05:31

Lantheus Holdings, Inc. (NASDAQ:LNTH – Get 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.

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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

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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.