Connor Clark & Lunn Investment Management Ltd. Grows Stake in Lantheus Holdings, Inc. (NASDAQ:LNTH)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has significantly increased its stake in Lantheus Holdings, acquiring 60,460 additional shares, bringing their total ownership to 63,104 shares, valued at approximately $6.16 million.
• Several institutional investors, including the State of Michigan Retirement System and Signaturefd LLC, have also boosted their holdings in Lantheus, reflecting strong institutional confidence in the company.
• Analysts have recently adjusted their price targets for Lantheus, with JMP Securities lowering theirs from $112.00 to $73.00, while the consensus rating remains a "Moderate Buy" with an average price target of $105.50.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 2,286.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,104 shares of the medical equipment provider's stock after acquiring an additional 60,460 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Lantheus worth $6,159,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of Lantheus by 72.7% during the 4th quarter. Janus Henderson Group PLC now owns 6,198,689 shares of the medical equipment provider's stock valued at $554,583,000 after purchasing an additional 2,610,118 shares during the last quarter. Farallon Capital Management LLC grew its position in Lantheus by 79.9% during the 4th quarter. Farallon Capital Management LLC now owns 5,316,227 shares of the medical equipment provider's stock worth $475,590,000 after acquiring an additional 2,361,000 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Lantheus by 2.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,589,145 shares of the medical equipment provider's stock worth $155,101,000 after acquiring an additional 34,052 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Lantheus by 40.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,509,332 shares of the medical equipment provider's stock worth $135,025,000 after acquiring an additional 435,445 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Lantheus by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,347,082 shares of the medical equipment provider's stock worth $120,510,000 after acquiring an additional 30,891 shares during the last quarter. 99.06% of the stock is currently owned by institutional investors.

Lantheus Price Performance

LNTH stock traded down $0.29 during trading on Friday, reaching $54.18. The company's stock had a trading volume of 1,221,713 shares, compared to its average volume of 2,054,600. Lantheus Holdings, Inc. has a 1 year low of $47.25 and a 1 year high of $118.21. The company has a quick ratio of 4.07, a current ratio of 4.29 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $3.68 billion, a P/E ratio of 14.41 and a beta of 0.14. The company's fifty day moving average is $73.83 and its 200-day moving average is $85.48.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on LNTH. B. Riley reduced their price target on Lantheus from $122.00 to $109.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. William Blair restated a "market perform" rating on shares of Lantheus in a research report on Wednesday, July 16th. Wall Street Zen upgraded Lantheus from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Truist Financial set a $63.00 price objective on Lantheus and gave the stock a "hold" rating in a report on Monday. Finally, Mizuho lowered their target price on Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Lantheus currently has a consensus rating of "Moderate Buy" and an average price target of $105.50.

Insider Buying and Selling

In related news, Director Mary Anne Heino sold 26,066 shares of Lantheus stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $76.83, for a total value of $2,002,650.78. Following the completion of the transaction, the director owned 318,650 shares in the company, valued at approximately $24,481,879.50. This trade represents a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company's stock.

About Lantheus

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.