Voya Investment Management LLC Lowers Stock Position in Lantheus Holdings, Inc. $LNTH

Key Points

• Voya Investment Management LLC significantly reduced its holdings in Lantheus Holdings, Inc. by 97.7%, selling over 11.6 million shares and leaving it with approximately $27.37 million in stock.
• Other institutional investors have increased their positions, with TD Asset Management Inc boosting its holdings by 1,028.0% during the same period, resulting in a comprehensive institutional ownership of 99.06% in Lantheus.
• Insiders have sold a total of 6.81 million shares valued at approximately $382 million over the last 90 days, indicating a significant reduction in insider ownership.

Voya Investment Management LLC lowered its holdings in Lantheus Holdings, Inc. (NASDAQ:LNTH - Free Report) by 97.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 280,474 shares of the medical equipment provider's stock after selling 11,695,117 shares during the quarter. Voya Investment Management LLC owned approximately 0.41% of Lantheus worth $27,374,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State of Michigan Retirement System raised its holdings in shares of Lantheus by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 16,600 shares of the medical equipment provider's stock valued at $1,620,000 after purchasing an additional 100 shares in the last quarter. Signaturefd LLC raised its holdings in shares of 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 in the last quarter. Intrust Bank NA raised its holdings in shares of Lantheus by 2.9% in the 1st quarter. Intrust Bank NA now owns 4,417 shares of the medical equipment provider's stock valued at $431,000 after purchasing an additional 125 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Lantheus by 2.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 6,691 shares of the medical equipment provider's stock valued at $653,000 after purchasing an additional 139 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of Lantheus by 1.0% in the 1st quarter. Moody National Bank Trust Division now owns 14,910 shares of the medical equipment provider's stock valued at $1,455,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 99.06% of the company's stock.

Insider Buying and Selling at Lantheus

In other news, insider Rajiv A. Patel sold 3,365,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $56.15, for a total value of $188,944,750.00. Following the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Farallon Partners L. L. C/Ca sold 3,365,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $56.15, for a total transaction of $188,944,750.00. Following the sale, the insider directly owned 3,477,227 shares in the company, valued at $195,246,296.05. This trade represents a 49.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,812,000 shares of company stock worth $382,427,380 over the last ninety days. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LNTH shares. Truist Financial set a $63.00 price objective on shares of Lantheus and gave the stock a "hold" rating in a research note on Monday, August 11th. TD Cowen reduced their price objective on shares of Lantheus from $95.00 to $80.00 and set a "buy" rating for the company in a research note on Monday. William Blair reiterated a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. JMP Securities reduced their price objective 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. Finally, Mizuho reduced their price objective on shares of Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.50.

Lantheus Stock Performance

Shares of LNTH stock traded down $1.15 during trading hours on Friday, hitting $50.41. The company's stock had a trading volume of 2,275,969 shares, compared to its average volume of 1,112,992. The company has a 50 day moving average of $60.91 and a 200 day moving average of $79.87. The stock has a market cap of $3.43 billion, a PE ratio of 13.41 and a beta of 0.15. The company has a current ratio of 4.29, a quick ratio of 4.07 and a debt-to-equity ratio of 0.49. 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 quarterly earnings data on Wednesday, August 6th. The medical equipment provider reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). The business 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%. The firm's revenue was down 4.1% on a year-over-year basis. During the same period last year, the company earned $1.80 earnings per share. On average, sell-side analysts forecast that Lantheus Holdings, Inc. will post 6.01 EPS for the current fiscal year.

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.