Lantheus Holdings, Inc. $LNTH Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Lantheus Holdings by 14.0%, selling 23,400 shares, which left it with 143,700 shares valued at approximately $14 million.
• Insiders sold a total of 6,812,000 shares of Lantheus stock during the last quarter, with individual sales by insiders Rajiv A. Patel and Farallon Partners each amounting to approximately $188.9 million.
• Analysts have set a consensus target price for Lantheus at $105.50, with most ratings being a "Moderate Buy" despite a recent drop in the target price from several brokerages.

Canada Pension Plan Investment Board trimmed its stake in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 14.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,700 shares of the medical equipment provider's stock after selling 23,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.21% of Lantheus worth $14,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. OMERS ADMINISTRATION Corp boosted its stake in 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 acquiring an additional 616 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Lantheus by 124.1% in the 1st quarter. CreativeOne Wealth LLC now owns 16,080 shares of the medical equipment provider's stock valued at $1,569,000 after purchasing an additional 8,905 shares during the period. Epoch Investment Partners Inc. purchased a new position in Lantheus during the 1st quarter worth approximately $35,548,000. Comerica Bank grew its stake in Lantheus by 14.7% during the 1st quarter. Comerica Bank now owns 304,160 shares of the medical equipment provider's stock worth $29,686,000 after buying an additional 38,974 shares during the last quarter. Finally, Synovus Financial Corp increased its position in Lantheus by 2.6% during the first quarter. Synovus Financial Corp now owns 26,315 shares of the medical equipment provider's stock worth $2,568,000 after buying an additional 676 shares during the period. 99.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lantheus

In related news, insider Rajiv A. Patel sold 3,365,000 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Farallon Partners L. L. C/Ca sold 3,365,000 shares of the company's 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 directly owned 3,477,227 shares in the company, valued at $195,246,296.05. This trade represents 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 quarter. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LNTH. JMP Securities lowered their target price on shares of Lantheus from $112.00 to $73.00 and set a "market outperform" rating on the stock in a research report on Thursday, August 7th. William Blair restated a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. Wall Street Zen upgraded shares of Lantheus from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Truist Financial set a $63.00 price target on Lantheus and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, B. Riley decreased their price objective on Lantheus from $122.00 to $109.00 and set a "buy" rating for the company in a research report on Monday, June 23rd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.50.

Lantheus Trading Down 1.1%

NASDAQ LNTH opened at $54.90 on Tuesday. 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 0.15. Lantheus Holdings, Inc. has a 52-week low of $47.25 and a 52-week high of $118.21. The firm has a 50-day moving average price of $68.68 and a 200 day moving average price of $83.02.

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

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.

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