Clark Capital Management Group Inc. Boosts Stake in Lantheus Holdings, Inc. $LNTH

Key Points

• Clark Capital Management Group Inc. increased its position in Lantheus Holdings by 70.4% in Q1, owning approximately $7.69 million worth of shares.
• Multiple institutional investors, including Janus Henderson and Farallon Capital Management, have significantly raised their stakes in Lantheus, leading to a total institutional ownership of 99.06%.
• Despite a revenue decline of 4.1% year-over-year, Lantheus reported $378.05 million in quarterly revenue but fell short of analyst expectations.

Clark Capital Management Group Inc. boosted its position in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 70.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,746 shares of the medical equipment provider's stock after buying an additional 32,546 shares during the period. Clark Capital Management Group Inc. owned approximately 0.11% of Lantheus worth $7,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its position in Lantheus by 24.0% in the first quarter. Alliancebernstein L.P. now owns 177,850 shares of the medical equipment provider's stock valued at $17,358,000 after buying an additional 34,397 shares during the last quarter. Amundi lifted its holdings in Lantheus by 4.4% in the first quarter. Amundi now owns 184,790 shares of the medical equipment provider's stock valued at $17,963,000 after acquiring an additional 7,838 shares during the period. Royal Bank of Canada lifted its holdings in Lantheus by 1.2% in the first quarter. Royal Bank of Canada now owns 272,081 shares of the medical equipment provider's stock valued at $26,557,000 after acquiring an additional 3,224 shares during the period. Quarry LP lifted its holdings in Lantheus by 2,350.0% in the first quarter. Quarry LP now owns 490 shares of the medical equipment provider's stock valued at $48,000 after acquiring an additional 470 shares during the period. Finally, Expect Equity LLC lifted its holdings in Lantheus by 6.8% in the first quarter. Expect Equity LLC now owns 26,624 shares of the medical equipment provider's stock valued at $2,599,000 after acquiring an additional 1,700 shares during the period. Hedge funds and other institutional investors own 99.06% of the company's stock.

Analysts Set New Price Targets

LNTH has been the subject of a number of analyst reports. Mizuho decreased their price target on Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. William Blair reissued a "market perform" rating on shares of Lantheus in a report on Wednesday, July 16th. Truist Financial set a $63.00 target price on Lantheus and gave the stock a "hold" rating in a research note on Monday, August 11th. B. Riley reduced their target price on Lantheus from $122.00 to $109.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Finally, JMP Securities reduced their target price on Lantheus from $112.00 to $73.00 and set a "market outperform" rating for the company in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $91.60.

Insider Activity

In other news, insider Rajiv A. Patel sold 3,365,000 shares of Lantheus stock in a transaction dated 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 completion of the transaction, the insider owned 3,477,227 shares in the company, valued at approximately $195,246,296.05. This trade represents a 49.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Farallon Partners L. L. C/Ca sold 3,365,000 shares of the business'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 sale, the insider owned 3,477,227 shares of the company's stock, valued at approximately $195,246,296.05. The trade was a 49.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,812,000 shares of company stock valued at $382,427,380. 2.00% of the stock is currently owned by corporate insiders.

Lantheus Price Performance

NASDAQ LNTH traded down $2.75 during mid-day trading on Wednesday, hitting $52.33. The stock had a trading volume of 473,606 shares, compared to its average volume of 1,196,997. The firm's 50 day moving average is $65.54 and its 200 day moving average is $81.91. Lantheus Holdings, Inc. has a twelve month low of $47.25 and a twelve month high of $118.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.29 and a quick ratio of 4.07. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 13.91 and a beta of 0.15.

Lantheus (NASDAQ:LNTH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The medical equipment provider reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). The company had revenue of $378.05 million during the quarter, compared to analysts' expectations of $389.69 million. Lantheus had a net margin of 17.82% and a return on equity of 34.06%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.80 earnings per share. Equities research analysts forecast that Lantheus Holdings, Inc. will post 6.01 earnings per share for the current fiscal 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.