Alpha Wave Global LP Has $2.64 Million Position in Lantheus Holdings, Inc. $LNTH

Key Points

• Alpha Wave Global LP reduced its stake in Lantheus Holdings by 62.7% in Q1, owning 26,997 shares worth approximately $2.6 million, making it the firm's 9th largest position.
• Insider trades revealed major sales of 6.8 million shares by Farallon Partners and Rajiv A. Patel, each selling shares valued at about $188.9 million.
• Following recent analyst evaluations, Lantheus has a mixed outlook with target prices ranging from $63.00 to $73.00, with an average rating of "Moderate Buy."

Alpha Wave Global LP cut its stake in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 62.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,997 shares of the medical equipment provider's stock after selling 45,410 shares during the period. Lantheus accounts for about 1.2% of Alpha Wave Global LP's investment portfolio, making the stock its 9th biggest holding. Alpha Wave Global LP's holdings in Lantheus were worth $2,635,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LNTH. Signaturefd LLC increased its stake in shares of Lantheus by 36.5% during 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 period. Hughes Financial Services LLC bought a new position in shares of Lantheus in the 1st quarter worth about $81,000. UMB Bank n.a. increased its position in Lantheus by 68.2% in the 1st quarter. UMB Bank n.a. now owns 940 shares of the medical equipment provider's stock valued at $92,000 after buying an additional 381 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Lantheus by 117.7% in the 1st quarter. Blue Trust Inc. now owns 1,171 shares of the medical equipment provider's stock worth $114,000 after buying an additional 633 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Lantheus by 29.3% in the first quarter. GAMMA Investing LLC now owns 1,316 shares of the medical equipment provider's stock valued at $128,000 after purchasing an additional 298 shares during the last quarter. 99.06% of the stock is owned by institutional investors and hedge funds.

Lantheus Stock Performance

Shares of LNTH stock traded down $0.60 during trading hours on Friday, reaching $54.90. 1,028,454 shares of the company's stock were exchanged, compared to its average volume of 1,205,555. The business has a fifty day moving average price of $69.20 and a 200-day moving average price of $83.18. 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 stock has a market capitalization of $3.73 billion, a P/E ratio of 14.60 and a beta of 0.14. Lantheus Holdings, Inc. has a fifty-two week low of $47.25 and a fifty-two week high of $118.21.

Lantheus (NASDAQ:LNTH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The medical equipment provider reported $1.57 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $389.69 million. During the same quarter in the previous year, the company posted $1.80 EPS. Lantheus's revenue for the quarter was down 4.1% on a year-over-year basis. Analysts predict that Lantheus Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on LNTH shares. Wall Street Zen raised Lantheus from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. JMP Securities dropped their price target on shares of 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 target price on shares of Lantheus and gave the company a "hold" rating in a research note on Monday, August 11th. William Blair restated a "market perform" rating on shares of Lantheus in a report on Wednesday, July 16th. Finally, Mizuho lowered their price target on shares of Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $105.50.

Insider Transactions at Lantheus

In other news, 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 transaction of $188,944,750.00. Following the sale, the insider owned 3,477,227 shares of the company's stock, valued at $195,246,296.05. This trade represents a 49.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Anne Heino sold 26,066 shares of Lantheus stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $76.83, for a total value of $2,002,650.78. Following the completion of the sale, the director directly owned 318,650 shares in the company, valued at $24,481,879.50. This represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,838,066 shares of company stock valued at $384,430,031 over the last 90 days. 1.50% of the stock is owned by company insiders.

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.