Raymond James Financial Inc. Sells 28,095 Shares of Lantheus Holdings, Inc. $LNTH

Key Points

• Raymond James Financial Inc. reduced its position in Lantheus Holdings by 6.9%, selling 28,095 shares and retaining 376,366 shares, valued at approximately $36.73 million.
• Insider Rajiv A. Patel sold 3.37 million shares of Lantheus for about $188.94 million, marking a 49.18% decrease in their ownership.
• Lantheus reported a miss in earnings with $1.57 per share against the estimated $1.65, alongside a 4.1% year-over-year revenue decline.

Raymond James Financial Inc. cut its position in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 6.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 376,366 shares of the medical equipment provider's stock after selling 28,095 shares during the quarter. Raymond James Financial Inc. owned about 0.55% of Lantheus worth $36,734,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC boosted its stake in Lantheus by 36.5% in the 1st quarter. Signaturefd LLC now owns 434 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 116 shares during the period. Hughes Financial Services LLC bought a new stake in Lantheus in the 1st quarter valued at $81,000. UMB Bank n.a. boosted its stake in Lantheus by 68.2% in the 1st quarter. UMB Bank n.a. now owns 940 shares of the medical equipment provider's stock valued at $92,000 after purchasing an additional 381 shares during the period. Blue Trust Inc. boosted its stake in Lantheus by 117.7% in the 1st quarter. Blue Trust Inc. now owns 1,171 shares of the medical equipment provider's stock valued at $114,000 after purchasing an additional 633 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Lantheus by 29.3% in the 1st quarter. GAMMA Investing LLC now owns 1,316 shares of the medical equipment provider's stock valued at $128,000 after purchasing an additional 298 shares during the period. 99.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lantheus news, insider Rajiv A. Patel sold 3,365,000 shares of the company'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 transaction, the insider owned 3,477,227 shares of the company's stock, valued at $195,246,296.05. This represents a 49.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Anne Heino sold 26,066 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $76.83, for a total value of $2,002,650.78. Following the completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders sold a total of 6,838,066 shares of company stock valued at $384,430,031 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

Lantheus Price Performance

Lantheus stock opened at $58.21 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.07 and a current ratio of 4.29. Lantheus Holdings, Inc. has a 52 week low of $47.25 and a 52 week high of $118.21. The stock has a market capitalization of $3.96 billion, a P/E ratio of 15.48 and a beta of 0.14. The stock has a fifty day moving average of $71.48 and a 200-day moving average of $84.24.

Lantheus (NASDAQ:LNTH - Get Free Report) last issued 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). Lantheus had a return on equity of 34.06% and a net margin of 17.82%.The firm had revenue of $378.05 million during the quarter, compared to analyst estimates of $389.69 million. During the same period in the previous year, the company earned $1.80 EPS. Lantheus's revenue for the quarter was down 4.1% on a year-over-year basis. On average, sell-side analysts expect that Lantheus Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LNTH. Truist Financial set a $63.00 target price on Lantheus and gave the company a "hold" rating in a research report on Monday, August 11th. Mizuho cut their target price on Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. JMP Securities cut their target price on Lantheus from $112.00 to $73.00 and set a "market outperform" rating for the company in a research report on Thursday, August 7th. William Blair reissued a "market perform" rating on shares of Lantheus in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Lantheus from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $105.50.

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.

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