Lantheus Holdings, Inc. $LNTH Holdings Cut by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC reduced its stake in Lantheus Holdings by 38.8%, owning 74,180 shares valued at approximately $7.08 million after selling 47,069 shares in the first quarter.
• Lantheus reported a 4.1% decrease in revenue year-over-year with a quarterly earnings miss, posting $1.57 EPS against an expected $1.65.
• Insider transactions saw significant selling, with insiders offloading a total of 6.81 million shares worth about $382 million over the past three months.

AQR Capital Management LLC lowered its holdings in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 38.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,180 shares of the medical equipment provider's stock after selling 47,069 shares during the period. AQR Capital Management LLC owned approximately 0.11% of Lantheus worth $7,084,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC boosted its position in Lantheus by 36.5% during the 1st 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. Quarry LP lifted its stake in shares of 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 purchasing an additional 470 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in shares of Lantheus in the first quarter worth about $81,000. UMB Bank n.a. grew its stake in shares of 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 buying an additional 381 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Lantheus by 117.7% during the 1st quarter. Blue Trust Inc. now owns 1,171 shares of the medical equipment provider's stock valued at $114,000 after buying an additional 633 shares during the period. Hedge funds and other institutional investors own 99.06% of the company's stock.

Lantheus Stock Down 3.7%

Shares of NASDAQ:LNTH traded down $2.05 during midday trading on Friday, reaching $52.94. The company had a trading volume of 842,370 shares, compared to its average volume of 1,507,125. The stock has a market capitalization of $3.60 billion, a P/E ratio of 14.08 and a beta of 0.15. The stock's fifty day moving average price is $63.98 and its 200-day moving average price is $81.27. 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 Holdings, Inc. has a one year low of $47.25 and a one year high of $118.21.

Lantheus (NASDAQ:LNTH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). The company 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%.Lantheus's revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.80 earnings per share. Equities research analysts expect that Lantheus Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Farallon Partners L. L C/Ca sold 3,365,000 shares of the business'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 of the company's stock, valued at $195,246,296.05. The trade was a 49.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajiv A. Patel sold 3,365,000 shares of the 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 transaction, the insider directly owned 3,477,227 shares in the company, valued at approximately $195,246,296.05. This represents a 49.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,812,000 shares of company stock valued at $382,427,380. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on LNTH. Truist Financial set a $63.00 price target on Lantheus and gave the stock a "hold" rating in a report on Monday, August 11th. B. Riley decreased their target price on shares of Lantheus from $122.00 to $109.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. Mizuho cut their price objective on shares of Lantheus from $120.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Finally, JMP Securities lowered their target price on Lantheus from $112.00 to $73.00 and set a "market outperform" rating for the company in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.60.

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.