Lantheus (NASDAQ:LNTH) Stock Price Breaks Below Fifty Day Moving Average - Here's What Happened

Key Points

• Lantheus shares fell below their 50-day moving average, trading as low as $99.69 versus the $101.41 average, with the stock last at $99.72.
• Analyst sentiment is mixed but leans cautious: four analysts rate Lantheus a Buy and ten rate it a Hold, producing a consensus Hold rating and a $108.11 price target.
• The company exceeded quarterly expectations, reporting $1.55 in adjusted earnings per share versus a $1.30 estimate and $388.18 million in revenue versus $363.23 million expected; institutional investors own 99.06% of its shares.

Lantheus Holdings, Inc. (NASDAQ:LNTH - Get Free Report) shares passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $101.41 and traded as low as $99.69. Lantheus shares last traded at $99.72, with a volume of 938,543 shares.

Analyst Ratings Changes

LNTH has been the topic of several recent analyst reports. Citizens Jmp reissued a "market outperform" rating and set a $115.00 target price on shares of Lantheus in a research note on Monday, June 29th. William Blair set a $102.50 target price on shares of Lantheus in a report on Monday, August 3rd. CJS Securities lowered Lantheus from a "market outperform" rating to a "market perform" rating in a research report on Tuesday, August 4th. Leerink Partners set a $102.50 target price on shares of Lantheus in a research note on Monday, August 3rd. Finally, B. Riley Financial lowered Lantheus from a "buy" rating to a "hold" rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Lantheus presently has a consensus rating of "Hold" and a consensus price target of $108.11.

Lantheus Trading Down 0.3%

The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 24.09 and a beta of -0.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.06 and a quick ratio of 2.89. The company's 50 day simple moving average is $101.41 and its 200 day simple moving average is $95.44.

Lantheus (NASDAQ:LNTH - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.25. Lantheus had a return on equity of 28.10% and a net margin of 17.69%.The company had revenue of $388.18 million for the quarter, compared to analyst estimates of $363.23 million. During the same quarter last year, the company earned $1.57 EPS. Lantheus's revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Lantheus Holdings, Inc. will post 4.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Jupiter Topco LLC acquired a new stake in shares of Lantheus in the 2nd quarter worth approximately $575,628,000. Norges Bank purchased a new position in Lantheus in the 4th quarter valued at about $76,197,000. Assenagon Asset Management S.A. lifted its stake in shares of Lantheus by 440.3% during the second quarter. Assenagon Asset Management S.A. now owns 714,980 shares of the medical equipment provider's stock valued at $79,320,000 after buying an additional 582,661 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Lantheus by 686.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 598,857 shares of the medical equipment provider's stock worth $45,423,000 after purchasing an additional 522,678 shares during the period. Finally, Summit Street Capital Management LLC acquired a new stake in Lantheus in the 2nd quarter worth about $44,454,000. Hedge funds and other institutional investors own 99.06% of the company's stock.

Lantheus Company Profile

Lantheus Holdings, Inc NASDAQ: LNTH is a healthcare company that develops, manufactures and commercializes diagnostic imaging agents and radiopharmaceuticals. Its products are designed to help physicians detect, characterize and monitor disease, with applications in cardiology, oncology and other areas of medicine.

The company's principal products include DEFINITY, an ultrasound-enhancing agent used to improve cardiac ultrasound images, and PYLARIFY, a prostate-specific membrane antigen (PSMA) PET imaging agent used to help identify and assess 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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.