Mizuho Lowers Lantheus (NASDAQ:LNTH) Price Target to $70.00

Key Points

• Mizuho has lowered its price target for Lantheus (NASDAQ:LNTH) from $120.00 to $70.00, while still maintaining an "outperform" rating.
• Despite the downgrade, Lantheus has a potential upside of 30.50% from its previous close, according to Mizuho's new target price.
• Analysts' ratings for Lantheus include one hold, seven buy ratings, and a consensus average target price of $121.00.

Lantheus (NASDAQ:LNTH - Get Free Report) had its price objective decreased by Mizuho from $120.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the medical equipment provider's stock. Mizuho's target price would suggest a potential upside of 22.38% from the company's current price.

Several other analysts have also recently issued reports on the stock. William Blair reaffirmed a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. B. Riley dropped their price objective on shares of Lantheus from $122.00 to $109.00 and set a "buy" rating for the company in a research note on Monday, June 23rd. Wall Street Zen raised shares of Lantheus from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Truist Financial decreased their target price on shares of Lantheus from $127.00 to $117.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.50.

Lantheus Price Performance

Shares of Lantheus stock traded up $2.34 during trading hours on Thursday, reaching $57.20. The stock had a trading volume of 2,503,494 shares, compared to its average volume of 1,884,666. The stock's 50 day moving average is $76.31 and its 200 day moving average is $86.86. The firm has a market capitalization of $3.89 billion, a PE ratio of 15.21 and a beta of 0.14. Lantheus has a twelve month low of $47.25 and a twelve month high of $118.21. The company has a current ratio of 4.29, a quick ratio of 5.46 and a debt-to-equity ratio of 0.49.

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

Insider Buying and Selling at Lantheus

In related news, Director Mary Anne Heino sold 26,066 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $76.83, for a total transaction of $2,002,650.78. Following the completion of the transaction, the director owned 318,650 shares of the company's stock, valued at approximately $24,481,879.50. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Lantheus

Hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System lifted its stake 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 during the last quarter. Signaturefd LLC lifted its position in shares of Lantheus by 36.5% during the 1st 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 last quarter. Intrust Bank NA lifted its position in shares of Lantheus by 2.9% during the 1st quarter. Intrust Bank NA now owns 4,417 shares of the medical equipment provider's stock worth $431,000 after purchasing an additional 125 shares during the last quarter. Focus Financial Network Inc. grew its stake in shares of Lantheus by 4.0% during the second quarter. Focus Financial Network Inc. now owns 3,576 shares of the medical equipment provider's stock worth $293,000 after purchasing an additional 136 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Lantheus by 2.1% in the first quarter. Nisa Investment Advisors LLC now owns 6,691 shares of the medical equipment provider's stock valued at $653,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 99.06% of the company's stock.

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.