Oak Ridge Investments LLC Cuts Stake in Lantheus Holdings, Inc. (NASDAQ:LNTH)

Key Points

• Oak Ridge Investments LLC reduced its shareholding in Lantheus Holdings, Inc. by 47.2% during the first quarter, now owning 20,604 shares valued at approximately $2 million.
• Several institutional investors, including GAMMA Investing LLC, significantly increased their stakes in Lantheus, with GAMMA boosting its position by over 12,500%.
• Analysts have mixed views on Lantheus, with some upgrades and downgrades impacting the price target; the consensus rating is a "Moderate Buy" with an average price target of $105.50.

Oak Ridge Investments LLC lowered its position in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 47.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,604 shares of the medical equipment provider's stock after selling 18,406 shares during the quarter. Oak Ridge Investments LLC's holdings in Lantheus were worth $2,011,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Lantheus by 3.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,084 shares of the medical equipment provider's stock worth $1,162,000 after purchasing an additional 400 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Lantheus by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 8,142 shares of the medical equipment provider's stock worth $794,000 after purchasing an additional 215 shares during the period. GAMMA Investing LLC grew its stake in shares of Lantheus by 12,517.1% during the 1st quarter. GAMMA Investing LLC now owns 128,442 shares of the medical equipment provider's stock worth $12,536,000 after purchasing an additional 127,424 shares during the period. Cerity Partners LLC grew its stake in shares of Lantheus by 12.7% during the 1st quarter. Cerity Partners LLC now owns 11,709 shares of the medical equipment provider's stock worth $1,143,000 after purchasing an additional 1,323 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Lantheus by 1,196.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 336,237 shares of the medical equipment provider's stock worth $32,817,000 after purchasing an additional 310,301 shares during the period. Hedge funds and other institutional investors own 99.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LNTH shares. Wall Street Zen raised shares of Lantheus from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. JMP Securities lowered their price objective 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. Mizuho lowered their price objective on shares of Lantheus from $120.00 to $70.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. William Blair reissued a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. Finally, B. Riley lowered their price objective on shares of Lantheus from $122.00 to $109.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $105.50.

Insider Buying and Selling at Lantheus

In other news, Director Mary Anne Heino sold 26,066 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $76.83, for a total transaction of $2,002,650.78. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is currently owned by insiders.

Lantheus Price Performance

NASDAQ:LNTH opened at $53.79 on Thursday. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 14.31 and a beta of 0.14. The company has a current ratio of 4.29, a quick ratio of 4.07 and a debt-to-equity ratio of 0.49. The company's 50-day moving average is $74.90 and its two-hundred day moving average is $86.04. Lantheus Holdings, Inc. has a 12-month low of $47.25 and a 12-month high of $118.21.

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 analysts' consensus estimates of $1.65 by ($0.08). The firm had revenue of $378.05 million during the quarter, compared to analysts' expectations of $389.69 million. Lantheus had a net margin of 17.82% and a return on equity of 34.06%. Lantheus's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $1.80 earnings per share. 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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