Swedbank AB Increases Position in Lantheus Holdings, Inc. $LNTH

Key Points

• Swedbank AB increased its stake in Lantheus Holdings, Inc. by 11.0%, acquiring an additional 121,500 shares to reach a total of 1,228,743 shares worth approximately $119.9 million.
• Lantheus recently reported a miss on earnings, with an EPS of $1.57 for the latest quarter compared to the consensus estimate of $1.65, reflecting a 4.1% decline in revenue year-over-year.
• Insiders at Lantheus sold a total of 6.81 million shares worth over $382 million in the past three months, indicating significant movement in ownership among top stakeholders.

Swedbank AB raised its position in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,228,743 shares of the medical equipment provider's stock after purchasing an additional 121,500 shares during the period. Swedbank AB owned 1.78% of Lantheus worth $119,925,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 acquiring an additional 400 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings 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 acquiring an additional 215 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 acquiring an additional 127,424 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of Lantheus by 899.2% during the 1st quarter. Select Equity Group L.P. now owns 100,843 shares of the medical equipment provider's stock worth $9,842,000 after acquiring an additional 90,751 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Lantheus by 21.4% during the 1st quarter. Cetera Investment Advisers now owns 28,362 shares of the medical equipment provider's stock worth $2,768,000 after acquiring an additional 5,004 shares during the last quarter. 99.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a report on Wednesday, July 16th. Truist Financial set a $63.00 price objective on shares of Lantheus and gave the stock a "hold" rating in a report on Monday, August 11th. TD Cowen lowered their price target on shares of Lantheus from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Monday. B. Riley lowered their price target on shares of Lantheus from $109.00 to $84.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, JMP Securities lowered their price target on shares of Lantheus from $112.00 to $73.00 and set a "market outperform" rating for the company in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.50.

Lantheus Trading Up 0.7%

Shares of NASDAQ LNTH traded up $0.33 during midday trading on Thursday, hitting $51.17. 394,583 shares of the company traded hands, compared to its average volume of 1,197,866. Lantheus Holdings, Inc. has a 12-month low of $47.25 and a 12-month high of $118.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.07 and a current ratio of 4.29. The stock has a 50-day moving average price of $62.17 and a 200 day moving average price of $80.50. The firm has a market cap of $3.48 billion, a P/E ratio of 13.59 and a beta of 0.15.

Lantheus (NASDAQ:LNTH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The medical equipment provider reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Lantheus had a net margin of 17.82% and a return on equity of 34.06%. The company had revenue of $378.05 million for the quarter, compared to analysts' expectations of $389.69 million. During the same quarter in the prior year, the firm earned $1.80 EPS. Lantheus's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts expect that Lantheus Holdings, Inc. will post 6.01 earnings per share for the current year.

Insider Activity

In related news, insider Rajiv A. Patel sold 3,365,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $56.15, for a total transaction of $188,944,750.00. Following the transaction, the insider owned 3,477,227 shares in the company, 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 hyperlink. Also, 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 shares were sold at an average price of $56.15, for a total transaction of $188,944,750.00. Following the transaction, the insider owned 3,477,227 shares in the company, valued at $195,246,296.05. This represents a 49.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,812,000 shares of company stock worth $382,427,380 in the last quarter. 1.50% of the stock is owned by corporate insiders.

Lantheus Company 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.