Lantheus (NASDAQ:LNTH) Given Neutral Rating at The Goldman Sachs Group

Key Points

• Goldman Sachs has reissued a "neutral" rating for Lantheus (NASDAQ:LNTH) and set a new target price of $77.00, a decrease from their previous target of $110.00, indicating a potential upside of 44.95% from its last close.
• Insider trading activity includes Farallon Partners LLC/Ca and another insider selling a combined total of over 6.8 million shares, reflecting a 49.18% decrease in their ownership position.
• Lantheus reported earnings per share of $1.57 for the last quarter, falling short of expectations, with revenues declining 4.1% compared to the same quarter last year.

Lantheus (NASDAQ:LNTH - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at The Goldman Sachs Group in a research note issued on Wednesday, Marketbeat Ratings reports. They currently have a $77.00 target price on the medical equipment provider's stock, down from their previous target price of $110.00. The Goldman Sachs Group's target price points to a potential upside of 44.95% from the stock's previous close.

LNTH has been the topic of several other research reports. Truist Financial set a $63.00 price target on shares of Lantheus and gave the stock a "hold" rating in a report on Monday, August 11th. B. Riley reduced their price target on Lantheus from $109.00 to $84.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Mizuho cut their price objective on Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a research report on Wednesday, July 16th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Lantheus in a research report on Wednesday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $74.50.

Lantheus Price Performance

Shares of Lantheus stock traded down $0.43 on Wednesday, hitting $53.12. 161,894 shares of the company traded hands, compared to its average volume of 1,229,396. The stock has a market capitalization of $3.61 billion, a P/E ratio of 14.13 and a beta of 0.09. 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 has a 52 week low of $47.25 and a 52 week high of $118.21. The business has a 50-day simple moving average of $55.22 and a 200 day simple moving average of $75.38.

Lantheus (NASDAQ:LNTH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The medical equipment provider reported $1.57 earnings per share for the quarter, missing analysts' consensus estimates 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 company's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $1.80 earnings per share. Research analysts expect that Lantheus will post 6.01 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Farallon Partners L. L. C/Ca sold 3,365,000 shares of Lantheus stock in a transaction that occurred on 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 in the company, valued at approximately $195,246,296.05. This trade represents a 49.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajiv A. Patel sold 3,365,000 shares of Lantheus stock in a transaction that occurred on 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 approximately $195,246,296.05. The trade was 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 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lantheus

Hedge funds have recently modified their holdings of the stock. Elevation Point Wealth Partners LLC purchased a new position in shares of Lantheus during the second quarter valued at $26,000. Signaturefd LLC increased its stake 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 during the period. Osterweis Capital Management Inc. bought a new stake in shares of Lantheus in the 2nd quarter valued at approximately $36,000. Quarry LP grew its stake in shares of Lantheus by 2,350.0% in the 1st quarter. Quarry LP now owns 490 shares of the medical equipment provider's stock valued at $48,000 after purchasing an additional 470 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in Lantheus during the 1st quarter worth approximately $81,000. 99.06% of the stock is currently owned by institutional investors and hedge funds.

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.

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