Lantheus (NASDAQ:LNTH) Price Target Cut to $84.00 by Analysts at B. Riley

Key Points

• B. Riley analysts have lowered their price target for Lantheus from $109.00 to $84.00, while still maintaining a "buy" rating, suggesting a potential upside of 63.34% from its previous close.
• Recent earnings results showed Lantheus reported $1.57 EPS, missing estimates of $1.65, and revenue of $378.05 million, which was below the anticipated $389.69 million.
• Insider Rajiv A. Patel sold 3,365,000 shares at an average price of $56.15, representing a significant decrease of 49.18% in their ownership position.

Lantheus (NASDAQ:LNTH - Get Free Report) had its price objective dropped by stock analysts at B. Riley from $109.00 to $84.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical equipment provider's stock. B. Riley's price objective suggests a potential upside of 63.34% from the company's previous close.

Several other brokerages have also weighed in on LNTH. Mizuho decreased their price objective on shares of Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. 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. JMP Securities decreased their price target on shares of Lantheus from $112.00 to $73.00 and set a "market outperform" rating for the company in a report on Thursday, August 7th. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a report on Wednesday, July 16th. Finally, TD Cowen decreased their price target on shares of Lantheus from $95.00 to $80.00 and set a "buy" rating for the company in a report on Monday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $85.50.

Lantheus Trading Down 0.6%

NASDAQ LNTH traded down $0.31 during mid-day trading on Tuesday, reaching $51.43. 259,565 shares of the stock were exchanged, compared to its average volume of 1,198,331. Lantheus has a 1-year low of $47.25 and a 1-year high of $118.21. The business's fifty day simple moving average is $63.43 and its 200 day simple moving average is $80.91. The stock has a market capitalization of $3.50 billion, a PE ratio of 13.69 and a beta of 0.15. 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 (NASDAQ:LNTH - Get Free Report) last announced 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). The firm had revenue of $378.05 million for the quarter, compared to analyst estimates of $389.69 million. Lantheus had a return on equity of 34.06% and a net margin of 17.82%.The firm's revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 EPS. On average, research analysts anticipate that Lantheus will post 6.01 earnings per share for the current fiscal year.

Insider Activity

In other Lantheus 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 sale, the insider directly owned 3,477,227 shares in the company, valued at approximately $195,246,296.05. The trade was a 49.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $56.15, for a total transaction of $188,944,750.00. Following the sale, the insider 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. Over the last quarter, insiders sold 6,812,000 shares of company stock worth $382,427,380. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LNTH. State of Michigan Retirement System grew its position in Lantheus by 0.6% in the first quarter. State of Michigan Retirement System now owns 16,600 shares of the medical equipment provider's stock worth $1,620,000 after acquiring an additional 100 shares in the last quarter. Signaturefd LLC increased its stake in shares of Lantheus by 36.5% in the first quarter. Signaturefd LLC now owns 434 shares of the medical equipment provider's stock worth $42,000 after purchasing an additional 116 shares during the period. Intrust Bank NA raised its stake in Lantheus by 2.9% during 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 during the last quarter. Focus Financial Network Inc. raised its stake in Lantheus by 4.0% during the 2nd quarter. Focus Financial Network Inc. now owns 3,576 shares of the medical equipment provider's stock valued at $293,000 after purchasing an additional 136 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Lantheus by 2.1% during 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 during the last quarter. 99.06% of the stock is owned by hedge funds and other institutional investors.

About Lantheus

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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