Lantheus (NASDAQ:LNTH) Trading Down 5.6% - Here's What Happened

Key Points

• Lantheus Holdings, Inc. shares dropped by 5.6%, closing at $51.99, significantly below the previous day’s close of $55.07, while trading volume decreased by 75%.
• Equities analysts have revised their price targets for Lantheus, with targets ranging from $63.00 to $109.00, maintaining a consensus rating of "Moderate Buy" and an average price target of $91.60.
• Insider trading saw significant activity, with 6.8 million shares sold recently, indicating a 49.18% decrease in ownership by certain insiders.

Lantheus Holdings, Inc. (NASDAQ:LNTH - Get Free Report)'s share price traded down 5.6% during trading on Wednesday . The stock traded as low as $52.20 and last traded at $51.99. 298,279 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,196,114 shares. The stock had previously closed at $55.07.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JMP Securities cut their price target on 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. B. Riley cut their price target on Lantheus from $122.00 to $109.00 and set a "buy" rating for the company in a report on Monday, June 23rd. Mizuho cut their price target on Lantheus from $120.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Truist Financial set a $63.00 price target on Lantheus and gave the company a "hold" rating in a report on Monday, August 11th. Four investment 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.60.

Lantheus Price Performance

The stock has a fifty day moving average of $65.54 and a two-hundred day moving average of $81.91. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 13.88 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 (NASDAQ:LNTH - Get Free Report) last released its quarterly 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). Lantheus had a net margin of 17.82% and a return on equity of 34.06%. The business had revenue of $378.05 million for the quarter, compared to analyst estimates of $389.69 million. During the same period in the prior year, the business earned $1.80 earnings per share. The company's revenue for the quarter was down 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Lantheus Holdings, Inc. will post 6.01 earnings per share for the current year.

Insiders Place Their Bets

In other Lantheus news, 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 value of $188,944,750.00. Following the transaction, the insider directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rajiv A. Patel sold 3,365,000 shares of the 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 completion of 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 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 quarter. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of Lantheus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lantheus by 3.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,084 shares of the medical equipment provider's stock worth $1,162,000 after purchasing an additional 400 shares during the period. State of Alaska Department of Revenue lifted its stake in Lantheus by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 8,142 shares of the medical equipment provider's stock worth $794,000 after purchasing an additional 215 shares during the last quarter. GAMMA Investing LLC grew its position in Lantheus by 12,517.1% in the first quarter. GAMMA Investing LLC now owns 128,442 shares of the medical equipment provider's stock valued at $12,536,000 after acquiring an additional 127,424 shares during the last quarter. Cetera Investment Advisers increased its position in 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 purchasing an additional 5,004 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Lantheus by 12.7% in the 1st quarter. Cerity Partners LLC now owns 11,709 shares of the medical equipment provider's stock valued at $1,143,000 after acquiring an additional 1,323 shares during the last quarter. Institutional investors and hedge funds own 99.06% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.