Assetmark Inc. Increases Stock Holdings in Lantheus Holdings, Inc. (NASDAQ:LNTH)

Key Points

• Assetmark Inc. has increased its stake in Lantheus Holdings, Inc. by 46.9%, now owning approximately 101,431 shares valued at about $9.9 million.
• Several hedge funds, including Cetera Investment Advisers and Royce & Associates, have also significantly boosted their holdings in Lantheus, demonstrating strong institutional interest.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Lantheus, with a projected average target price of $131.20.

Assetmark Inc. increased its position in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 46.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,431 shares of the medical equipment provider's stock after purchasing an additional 32,372 shares during the quarter. Assetmark Inc. owned approximately 0.15% of Lantheus worth $9,900,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in Lantheus by 72.7% in the fourth quarter. Janus Henderson Group PLC now owns 6,198,689 shares of the medical equipment provider's stock valued at $554,583,000 after buying an additional 2,610,118 shares in the last quarter. Farallon Capital Management LLC increased its holdings in Lantheus by 79.9% during the fourth quarter. Farallon Capital Management LLC now owns 5,316,227 shares of the medical equipment provider's stock worth $475,590,000 after buying an additional 2,361,000 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Lantheus by 40.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,509,332 shares of the medical equipment provider's stock valued at $135,025,000 after purchasing an additional 435,445 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lantheus by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,347,082 shares of the medical equipment provider's stock valued at $120,510,000 after purchasing an additional 30,891 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in shares of Lantheus by 39.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 973,888 shares of the medical equipment provider's stock valued at $87,124,000 after acquiring an additional 273,838 shares during the period. Institutional investors and hedge funds own 99.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LNTH. Wall Street Zen raised shares of Lantheus from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. B. Riley cut their price objective on shares of Lantheus from $122.00 to $109.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a research report on Wednesday, July 16th. Finally, Truist Financial cut their price objective on shares of Lantheus from $127.00 to $117.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Lantheus presently has an average rating of "Moderate Buy" and a consensus price target of $131.20.

Insider Activity at Lantheus

In other news, Director Mary Anne Heino sold 26,066 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $76.83, for a total transaction of $2,002,650.78. Following the completion of the transaction, the director owned 318,650 shares of the company's stock, valued at approximately $24,481,879.50. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company's stock.

Lantheus Stock Down 0.3%

LNTH traded down $0.22 during mid-day trading on Thursday, reaching $71.62. 173,528 shares of the stock were exchanged, compared to its average volume of 1,006,233. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.46 and a current ratio of 5.74. The stock has a market capitalization of $4.96 billion, a PE ratio of 20.33 and a beta of 0.12. The company has a 50 day moving average price of $77.85 and a two-hundred day moving average price of $88.41. Lantheus Holdings, Inc. has a 1 year low of $69.12 and a 1 year high of $118.21.

Lantheus (NASDAQ:LNTH - Get Free Report) last released its earnings results on Wednesday, May 7th. The medical equipment provider reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.64 by ($0.11). Lantheus had a return on equity of 36.99% and a net margin of 16.55%. The business had revenue of $372.76 million for the quarter, compared to the consensus estimate of $377.37 million. During the same quarter in the previous year, the firm earned $1.69 earnings per share. The company's revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts anticipate that Lantheus Holdings, Inc. will post 6.01 EPS for the current year.

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.