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Lantheus (NASDAQ:LNTH) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Financial News Live · Aug 7, 2022 10:21

Lantheus (NASDAQ:LNTH – Get Rating) released its quarterly earnings results on Thursday. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.25, Briefing.com reports. Lantheus had a return on equity of 28.88% and a net margin of 4.88%. The company had revenue of $223.80 million during the quarter, compared to analysts' expectations of $204.51 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. The company's revenue for the quarter was up 121.4% compared to the same quarter last year. Lantheus updated its FY 2022 guidance to $3.50-$3.60 EPS and its Q3 2022 guidance to $0.80-$0.85 EPS.

Lantheus Price Performance

Shares of Lantheus stock traded up $7.33 during trading on Friday, hitting $78.57. The stock had a trading volume of 1,703,905 shares, compared to its average volume of 1,357,643. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.85 and a quick ratio of 1.64. The firm has a market cap of $5.39 billion, a P/E ratio of 182.72 and a beta of 0.79. The business has a fifty day moving average of $67.85 and a two-hundred day moving average of $55.77. Lantheus has a fifty-two week low of $22.20 and a fifty-two week high of $81.43.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LNTH. Truist Financial increased their price target on Lantheus from $77.00 to $94.00 in a research note on Monday, May 2nd. B. Riley started coverage on Lantheus in a research note on Monday, May 9th. They issued a "buy" rating and a $91.00 price target for the company. Finally, SVB Leerink upped their price objective on Lantheus from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Friday.

Insider Activity

In other news, CAO Andrea Sabens sold 386 shares of the company's stock in a transaction on Friday, July 15th. The stock was sold at an average price of $69.12, for a total value of $26,680.32. Following the completion of the sale, 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 link. In other news, Director Gerard Ber sold 1,277 shares of the company's stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $58.19, for a total transaction of $74,308.63. Following the completion of the sale, the director now directly owns 32,703 shares of the company's stock, valued at $1,902,987.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Andrea Sabens sold 386 shares of the company's stock in a transaction on Friday, July 15th. The shares were sold at an average price of $69.12, for a total value of $26,680.32. Following the sale, the chief accounting officer now directly owns 64,255 shares of the company's stock, valued at $4,441,305.60. The disclosure for this sale can be found here. Insiders sold a total of 26,798 shares of company stock worth $1,676,307 over the last 90 days. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lantheus

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Lantheus by 32.9% during the first quarter. Vanguard Group Inc. now owns 5,742,083 shares of the medical equipment provider's stock valued at $317,595,000 after buying an additional 1,422,269 shares during the period. Bank of New York Mellon Corp raised its position in Lantheus by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 629,033 shares of the medical equipment provider's stock valued at $34,791,000 after buying an additional 16,422 shares during the period. Invesco Ltd. raised its position in Lantheus by 1.3% during the first quarter. Invesco Ltd. now owns 522,633 shares of the medical equipment provider's stock valued at $28,908,000 after buying an additional 6,706 shares during the period. Charles Schwab Investment Management Inc. raised its position in Lantheus by 9.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 522,322 shares of the medical equipment provider's stock valued at $28,890,000 after buying an additional 44,180 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in Lantheus during the first quarter valued at $17,813,000. 97.14% of the stock is owned by hedge funds and other institutional investors.

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.