Phocas Financial Corp. Lowers Stock Position in Lantheus Holdings, Inc. (NASDAQ:LNTH)

Key Points

• Phocas Financial Corp. reduced its stake in Lantheus Holdings by 5.5%, now holding 78,493 shares valued at approximately $7.66 million.
• Lantheus reported Q1 earnings of $1.53 per share, missing estimates, with a revenue of $372.76 million compared to the expected $377.37 million.
• Despite recent challenges, Lantheus has an overall positive analyst outlook with an average rating of "Moderate Buy" and a target price of $131.20.

Phocas Financial Corp. cut its position in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,493 shares of the medical equipment provider's stock after selling 4,537 shares during the quarter. Lantheus accounts for 1.2% of Phocas Financial Corp.'s portfolio, making the stock its 26th largest position. Phocas Financial Corp. owned 0.11% of Lantheus worth $7,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LNTH. Signaturefd LLC raised its position in Lantheus by 36.5% during the first quarter. Signaturefd LLC now owns 434 shares of the medical equipment provider's stock valued at $42,000 after acquiring an additional 116 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Lantheus during the 1st quarter valued at $81,000. UMB Bank n.a. increased its position 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 worth $92,000 after purchasing an additional 381 shares during the period. Blue Trust Inc. grew its position 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. Finally, GAMMA Investing LLC lifted its stake in Lantheus by 29.3% in the first quarter. GAMMA Investing LLC now owns 1,316 shares of the medical equipment provider's stock valued at $128,000 after buying an additional 298 shares during the period. 99.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lantheus news, Director Mary Anne Heino sold 26,066 shares of Lantheus stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $76.83, for a total transaction of $2,002,650.78. Following the completion of the sale, the director directly owned 318,650 shares of the company's stock, valued at $24,481,879.50. The trade was a 7.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company's stock.

Lantheus Trading Up 4.3%

Shares of Lantheus stock traded up $2.25 on Thursday, reaching $54.12. 1,804,406 shares of the company's stock were exchanged, compared to its average volume of 1,104,552. The company has a market capitalization of $3.74 billion, a P/E ratio of 15.40 and a beta of 0.14. The firm's 50-day moving average is $77.09 and its two-hundred day moving average is $87.42. Lantheus Holdings, Inc. has a 52 week low of $47.25 and a 52 week high of $118.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.46 and a current ratio of 5.74.

Lantheus (NASDAQ:LNTH - Get Free Report) last announced its earnings results on Wednesday, May 7th. The medical equipment provider reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.64 by ($0.11). Lantheus had a net margin of 16.55% and a return on equity of 36.99%. The business had revenue of $372.76 million for the quarter, compared to the consensus estimate of $377.37 million. During the same quarter in the prior year, the company earned $1.69 EPS. Lantheus's revenue was up .8% compared to the same quarter last year. Sell-side analysts predict that Lantheus Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LNTH shares. B. Riley cut their price objective on Lantheus from $122.00 to $109.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. William Blair reissued a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. Wall Street Zen upgraded Lantheus from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Mizuho decreased their price objective on Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday. Finally, Truist Financial lowered their price objective on Lantheus from $127.00 to $117.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lantheus has a consensus rating of "Moderate Buy" and an average target price of $114.50.

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.