TD Cowen Has Lowered Expectations for Lantheus (NASDAQ:LNTH) Stock Price

Key Points

• TD Cowen has reduced its target price for Lantheus (NASDAQ:LNTH) from $95.00 to $80.00, while maintaining a "buy" rating, indicating a potential upside of 52.02% from the current stock price.
• Multiple analysts have also adjusted their price targets for Lantheus, with JMP Securities lowering it to $73.00 and Mizuho to $70.00, reflecting a range of expectations from "market outperform" to "hold" ratings.
• Lantheus recently reported earnings, missing consensus estimates with earnings per share of $1.57 and revenue of $378.05 million, a decline of 4.1% compared to the same quarter last year.

Lantheus (NASDAQ:LNTH - Get Free Report) had its target price lowered by research analysts at TD Cowen from $95.00 to $80.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the medical equipment provider's stock. TD Cowen's target price suggests a potential upside of 52.02% from the stock's current price.

Several other analysts also recently commented on LNTH. JMP Securities lowered their price objective on Lantheus from $112.00 to $73.00 and set a "market outperform" rating for the company in a research note on Thursday, August 7th. Mizuho lowered their price objective on Lantheus from $120.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Truist Financial set a $63.00 price target on Lantheus and gave the company a "hold" rating in a research report on Monday, August 11th. B. Riley reduced their price objective on Lantheus from $122.00 to $109.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Finally, William Blair reissued a "market perform" rating on shares of Lantheus in a research note on Wednesday, July 16th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.67.

Lantheus Trading Down 0.6%

LNTH traded down $0.32 during midday trading on Monday, reaching $52.62. 80,700 shares of the company were exchanged, compared to its average volume of 1,196,548. The stock has a market capitalization of $3.58 billion, a P/E ratio of 13.95 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. The stock's 50-day simple moving average is $63.98 and its 200 day simple moving average is $81.20. Lantheus has a one year low of $47.25 and a one year high of $118.21.

Lantheus (NASDAQ:LNTH - Get Free Report) last posted 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). The company had revenue of $378.05 million during the quarter, compared to the consensus estimate of $389.69 million. Lantheus had a net margin of 17.82% and a return on equity of 34.06%. The firm's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.80 earnings per share. As a group, analysts forecast that Lantheus will post 6.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Rajiv A. Patel 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 value of $188,944,750.00. Following the transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $188,944,750.00. Following the completion of the sale, the insider owned 3,477,227 shares in the company, valued at $195,246,296.05. This represents a 49.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,812,000 shares of company stock valued at $382,427,380. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Lantheus

Institutional investors have recently modified their holdings of the stock. TD Asset Management Inc boosted its holdings in shares of Lantheus by 1,028.0% during the 1st quarter. TD Asset Management Inc now owns 682,614 shares of the medical equipment provider's stock worth $66,623,000 after purchasing an additional 622,100 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Lantheus during the first quarter worth $55,941,000. Norges Bank purchased a new position in Lantheus in the second quarter valued at $32,631,000. Epoch Investment Partners Inc. acquired a new position in Lantheus in the first quarter valued at $35,548,000. Finally, Assenagon Asset Management S.A. boosted its stake in Lantheus by 1,196.4% in the first quarter. Assenagon Asset Management S.A. now owns 336,237 shares of the medical equipment provider's stock valued at $32,817,000 after acquiring an additional 310,301 shares in 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.

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