California State Teachers Retirement System Purchases 8,356,007 Shares of Lantheus Holdings, Inc. $LNTH

Key Points

• California State Teachers Retirement System increased its Lantheus stake by 10,684.5%, purchasing 8.36 million additional shares and bringing its ownership to 8.43 million shares, or approximately 12.92% of the company.
• Institutional investors own 99.06% of Lantheus, while analysts have a consensus “Hold” rating and an average price target of $108.11 after several firms recently downgraded the stock or reduced their targets.
• Lantheus exceeded quarterly expectations, reporting $1.55 in EPS versus the $1.30 estimate and $388.18 million in revenue, up 2.7% year over year.

California State Teachers Retirement System grew its position in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 10,684.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,434,214 shares of the medical equipment provider's stock after purchasing an additional 8,356,007 shares during the quarter. California State Teachers Retirement System owned approximately 12.92% of Lantheus worth $935,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaGrep UK Ltd bought a new position in Lantheus in the 2nd quarter valued at approximately $408,000. Three Seasons Wealth LLC increased its stake in shares of Lantheus by 13.6% in the second quarter. Three Seasons Wealth LLC now owns 15,333 shares of the medical equipment provider's stock valued at $1,701,000 after buying an additional 1,838 shares during the period. denkapparat Operations GmbH acquired a new stake in shares of Lantheus in the second quarter valued at about $1,045,000. Cookson Peirce & Co. Inc. bought a new position in shares of Lantheus during the second quarter worth about $2,669,000. Finally, Penn Capital Management Company LLC bought a new position in shares of Lantheus during the second quarter worth about $17,089,000. 99.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings cut Lantheus from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday. Mizuho lowered their price target on shares of Lantheus from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Brookline Capital Markets lowered shares of Lantheus from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. B. Riley Financial lowered shares of Lantheus from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Truist Financial downgraded shares of Lantheus from a "buy" rating to a "hold" rating and lowered their target price for the stock from $125.00 to $102.50 in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Lantheus currently has a consensus rating of "Hold" and an average price target of $108.11.

Lantheus Price Performance

Shares of LNTH opened at $100.25 on Friday. Lantheus Holdings, Inc. has a 52-week low of $49.67 and a 52-week high of $111.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.89 and a current ratio of 3.06. The business's 50 day moving average price is $102.18 and its two-hundred day moving average price is $93.74. The firm has a market cap of $6.54 billion, a PE ratio of 24.22 and a beta of -0.03.

Lantheus (NASDAQ:LNTH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.25. Lantheus had a net margin of 17.69% and a return on equity of 28.10%. The company had revenue of $388.18 million during the quarter, compared to analyst estimates of $363.23 million. During the same quarter in the previous year, the business posted $1.57 EPS. Lantheus's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that Lantheus Holdings, Inc. will post 4.5 EPS for the current year.

Lantheus Company Profile

Lantheus Holdings, Inc NASDAQ: LNTH is a healthcare company that develops, manufactures and commercializes diagnostic imaging agents and radiopharmaceuticals. Its products are designed to help physicians detect, characterize and monitor disease, with applications in cardiology, oncology and other areas of medicine.

The company's principal products include DEFINITY, an ultrasound-enhancing agent used to improve cardiac ultrasound images, and PYLARIFY, a prostate-specific membrane antigen (PSMA) PET imaging agent used to help identify and assess prostate cancer.

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