Hardy Reed LLC Purchases 11,340 Shares of Lantheus Holdings, Inc. $LNTH

Key Points

• Hardy Reed LLC significantly increased its stake in Lantheus Holdings, purchasing 11,340 shares in Q2, bringing its total holdings to 23,000 shares valued at approximately $1.88 million.
• Lantheus reported earnings per share of $1.57 for the last quarter, falling short of analysts' expectations of $1.65, while its revenue was down 4.1% year-over-year.
• Insider Rajiv A. Patel sold 3.36 million shares at an average price of $56.15, reducing his stake in Lantheus by nearly 49.18% amid substantial insider selling activity totaling 6.81 million shares in the last quarter.

Hardy Reed LLC grew its position in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 97.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,000 shares of the medical equipment provider's stock after buying an additional 11,340 shares during the quarter. Hardy Reed LLC's holdings in Lantheus were worth $1,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC boosted its position in Lantheus by 36.5% in the first quarter. Signaturefd LLC now owns 434 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 116 shares during the last quarter. Quarry LP increased its holdings in Lantheus by 2,350.0% during the first quarter. Quarry LP now owns 490 shares of the medical equipment provider's stock worth $48,000 after buying an additional 470 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Lantheus during the first quarter worth about $81,000. UMB Bank n.a. raised its position in Lantheus by 68.2% in the first quarter. UMB Bank n.a. now owns 940 shares of the medical equipment provider's stock worth $92,000 after acquiring an additional 381 shares during the period. Finally, Blue Trust Inc. boosted its stake in Lantheus by 117.7% in the first quarter. Blue Trust Inc. now owns 1,171 shares of the medical equipment provider's stock valued at $114,000 after acquiring an additional 633 shares during the last quarter. Hedge funds and other institutional investors own 99.06% of the company's stock.

Lantheus Trading Down 2.1%

Shares of LNTH stock opened at $52.70 on Tuesday. The company has a market capitalization of $3.58 billion, a PE ratio of 14.02 and a beta of 0.09. Lantheus Holdings, Inc. has a 52-week low of $47.25 and a 52-week high of $118.21. The business's fifty day moving average is $55.99 and its 200 day moving average is $75.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.07 and a current ratio of 4.29.

Lantheus (NASDAQ:LNTH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical equipment provider reported $1.57 earnings per share 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 the consensus estimate of $389.69 million. Lantheus had a return on equity of 34.06% and a net margin of 17.82%.Lantheus's revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 earnings per share. On average, equities research analysts anticipate that Lantheus Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Lantheus in a report on Saturday, September 27th. TD Cowen dropped their price objective on shares of Lantheus from $95.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, September 15th. William Blair reiterated a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. B. Riley cut their price objective on shares of Lantheus from $109.00 to $84.00 and set a "buy" rating for the company in a report on Tuesday, September 16th. Finally, JMP Securities dropped their target price on Lantheus from $112.00 to $73.00 and set a "market outperform" rating on the stock in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.50.

Insider Activity at Lantheus

In other Lantheus news, insider Rajiv A. Patel sold 3,365,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 of the company's stock, valued at $195,246,296.05. The trade was a 49.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Farallon Partners L. L C/Ca sold 3,365,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $56.15, for a total transaction of $188,944,750.00. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,812,000 shares of company stock valued at $382,427,380. 2.00% of the stock is currently owned by company insiders.

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.

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