Reinhart Partners LLC. Buys 197,719 Shares of Lantheus Holdings, Inc. $LNTH

Key Points

• Reinhart Partners LLC increased its holdings in Lantheus Holdings, Inc. by 16.4% during the second quarter, now owning 1,403,659 shares, which comprise approximately 3.9% of their portfolio.
• Insider Rajiv A. Patel sold 3,365,000 shares on August 20 at an average price of $56.15, which marked a 49.18% decrease in his position.
• Lantheus reported a 4.1% decline in quarterly revenue year-over-year, missing analysts' expectations, with earnings of $1.57 EPS, below the projected $1.65.

Reinhart Partners LLC. lifted its holdings in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 16.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,403,659 shares of the medical equipment provider's stock after purchasing an additional 197,719 shares during the quarter. Lantheus comprises about 3.9% of Reinhart Partners LLC.'s investment portfolio, making the stock its 2nd biggest position. Reinhart Partners LLC. owned about 2.03% of Lantheus worth $114,905,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LNTH. Signaturefd LLC boosted its holdings 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 last quarter. Quarry LP boosted 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 last quarter. Hughes Financial Services LLC acquired a new position in Lantheus in the first quarter valued at $81,000. UMB Bank n.a. boosted its holdings in Lantheus by 68.2% in the first quarter. UMB Bank n.a. now owns 940 shares of the medical equipment provider's stock valued at $92,000 after acquiring an additional 381 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings 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. Institutional investors and hedge funds own 99.06% of the company's stock.

Insiders Place Their Bets

In other news, insider Farallon Partners L. L. C/Ca sold 3,365,000 shares of the stock in a transaction 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 completion of the sale, the insider owned 3,477,227 shares in the company, valued at $195,246,296.05. This represents a 49.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rajiv A. Patel sold 3,365,000 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Insiders sold 6,812,000 shares of company stock valued at $382,427,380 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Lantheus Price Performance

Shares of NASDAQ:LNTH traded down $1.15 on Friday, reaching $50.41. 2,275,969 shares of the company traded hands, compared to its average volume of 1,112,992. Lantheus Holdings, Inc. has a fifty-two week low of $47.25 and a fifty-two week high of $118.21. The company's 50 day moving average is $60.91 and its 200-day moving average is $79.73. The stock has a market capitalization of $3.43 billion, a PE ratio of 13.41 and a beta of 0.15. The company has a debt-to-equity ratio of 0.49, a current ratio of 4.29 and a quick ratio of 4.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LNTH. B. Riley reduced their target price on Lantheus from $109.00 to $84.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. William Blair reiterated a "market perform" rating on shares of Lantheus in a report on Wednesday, July 16th. Mizuho cut their price objective on Lantheus from $120.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. JMP Securities cut their price objective 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. Finally, Truist Financial set a $63.00 price objective on Lantheus and gave the company a "hold" rating in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Lantheus has an average rating of "Moderate Buy" and a consensus price target of $85.50.

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.