Driehaus Capital Management LLC Reduces Stock Holdings in Lantheus Holdings, Inc. $LNTH

Key Points

• Driehaus Capital Management LLC significantly reduced its holdings in Lantheus Holdings by 65.8%, owning 126,909 shares after selling 243,752 shares in the first quarter.
• Despite the reduction from Driehaus, other hedge funds, including OMERS ADMINISTRATION Corp and CreativeOne Wealth LLC, increased their positions in Lantheus during the same period.
• Lantheus is currently rated as a "Moderate Buy" with a consensus target price of $105.50, although its stock recently reported a 1.1% decrease, currently trading at $54.90.

Driehaus Capital Management LLC lowered its position in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 65.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,909 shares of the medical equipment provider's stock after selling 243,752 shares during the quarter. Driehaus Capital Management LLC owned 0.19% of Lantheus worth $12,386,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. OMERS ADMINISTRATION Corp increased its position in shares of Lantheus by 3.9% in the first quarter. OMERS ADMINISTRATION Corp now owns 16,316 shares of the medical equipment provider's stock valued at $1,592,000 after buying an additional 616 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Lantheus by 124.1% in the first quarter. CreativeOne Wealth LLC now owns 16,080 shares of the medical equipment provider's stock valued at $1,569,000 after buying an additional 8,905 shares in the last quarter. Epoch Investment Partners Inc. purchased a new position in shares of Lantheus in the first quarter valued at $35,548,000. Comerica Bank increased its position in shares of Lantheus by 14.7% in the first quarter. Comerica Bank now owns 304,160 shares of the medical equipment provider's stock valued at $29,686,000 after buying an additional 38,974 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Lantheus by 2.6% in the first quarter. Synovus Financial Corp now owns 26,315 shares of the medical equipment provider's stock valued at $2,568,000 after buying an additional 676 shares in the last quarter. Hedge funds and other institutional investors own 99.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Lantheus from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. JMP Securities decreased their price objective on Lantheus from $112.00 to $73.00 and set a "market outperform" rating on the stock in a research note on Thursday, August 7th. Truist Financial set a $63.00 price objective on Lantheus and gave the company a "hold" rating in a research note on Monday, August 11th. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. Finally, Mizuho decreased their price objective on Lantheus from $120.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $105.50.

Lantheus Stock Down 1.1%

Shares of NASDAQ:LNTH opened at $54.90 on Friday. The stock's 50-day moving average price is $69.20 and its two-hundred day moving average price is $83.19. The company has a current ratio of 4.29, a quick ratio of 4.07 and a debt-to-equity ratio of 0.49. Lantheus Holdings, Inc. has a 12-month low of $47.25 and a 12-month high of $118.21. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 14.60 and a beta of 0.14.

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). Lantheus had a return on equity of 34.06% and a net margin of 17.82%.The business had revenue of $378.05 million during the quarter, compared to analyst estimates of $389.69 million. During the same period in the previous year, the business posted $1.80 earnings per share. The firm's quarterly revenue was down 4.1% on a year-over-year basis. On average, research analysts forecast that Lantheus Holdings, Inc. will post 6.01 EPS for the current year.

Insiders Place Their Bets

In other Lantheus news, Director Mary Anne Heino sold 26,066 shares of the firm's 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 sale, the director directly owned 318,650 shares of the company's stock, valued at approximately $24,481,879.50. This trade represents a 7.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Farallon Partners L. L C/Ca sold 3,365,000 shares of the firm's 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 sale, the insider directly owned 3,477,227 shares in the company, valued at approximately $195,246,296.05. The trade was a 49.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,838,066 shares of company stock valued at $384,430,031. Insiders own 1.50% of the company's stock.

Lantheus 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.

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