Pacer Advisors Inc. Sells 9,717 Shares of Lantheus Holdings, Inc. (NASDAQ:LNTH)

Key Points

• Pacer Advisors Inc. reduced its stake in Lantheus Holdings, Inc. by 60.1%, selling 9,717 shares, leaving them with 6,452 shares valued at approximately $630,000.
• Other institutional investors have also increased their holdings in Lantheus, with notable purchases including Norges Bank's new stake worth about $26 million.
• Despite analysts rating the stock as a "Moderate Buy" with an average price target of $131.20, the company reported earnings of $1.53 per share, missing expectations and leading to a 0.9% decrease in stock price.

Pacer Advisors Inc. lowered its holdings in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 60.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,452 shares of the medical equipment provider's stock after selling 9,717 shares during the quarter. Pacer Advisors Inc.'s holdings in Lantheus were worth $630,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LNTH. Norges Bank bought a new stake in shares of Lantheus in the 4th quarter valued at about $26,189,000. Pictet Asset Management Holding SA raised its holdings in shares of Lantheus by 12.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,294 shares of the medical equipment provider's stock valued at $921,000 after purchasing an additional 1,113 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Lantheus in the 4th quarter valued at about $20,022,000. Trexquant Investment LP bought a new stake in shares of Lantheus in the 4th quarter valued at about $7,238,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Lantheus by 37.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 323,900 shares of the medical equipment provider's stock valued at $28,976,000 after purchasing an additional 87,412 shares in the last quarter. Institutional investors own 99.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LNTH shares. William Blair restated a "market perform" rating on shares of Lantheus in a report 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 reduced their price objective on shares of Lantheus from $127.00 to $117.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, B. Riley reduced their price objective 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $131.20.

Insiders Place Their Bets

In other Lantheus news, Director Mary Anne Heino sold 26,066 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 318,650 shares of the company's stock, valued at approximately $24,481,879.50. The trade was a 7.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company's stock.

Lantheus Stock Down 0.9%

NASDAQ:LNTH opened at $71.19 on Friday. The company has a market cap of $4.93 billion, a PE ratio of 20.22 and a beta of 0.12. Lantheus Holdings, Inc. has a twelve month low of $69.12 and a twelve month high of $118.21. The company has a current ratio of 5.74, a quick ratio of 5.46 and a debt-to-equity ratio of 0.49. The company's 50 day moving average is $77.71 and its two-hundred day moving average is $88.13.

Lantheus (NASDAQ:LNTH - Get Free Report) last released its earnings results on Wednesday, May 7th. The medical equipment provider reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.11). The company had revenue of $372.76 million for the quarter, compared to analysts' expectations of $377.37 million. Lantheus had a return on equity of 36.99% and a net margin of 16.55%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.69 EPS. Analysts anticipate that Lantheus Holdings, Inc. will post 6.01 EPS for the current year.

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.

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