Lantheus (NASDAQ:LNTH) Shares Down 20.8%

Lantheus Holdings Inc (NASDAQ:LNTH)’s stock price dropped 20.8% during mid-day trading on Wednesday . The stock traded as low as $18.39 and last traded at $19.04, approximately 1,758,458 shares traded hands during mid-day trading. An increase of 380% from the average daily volume of 366,717 shares. The stock had previously closed at $24.03.

LNTH has been the topic of several recent research reports. BidaskClub lowered Lantheus from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. ValuEngine lowered Lantheus from a “sell” rating to a “strong sell” rating in a research report on Thursday. CJS Securities upgraded Lantheus from a “market perform” rating to an “outperform” rating in a research report on Friday, August 16th. Finally, Zacks Investment Research upgraded Lantheus from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Lantheus has an average rating of “Hold” and a consensus target price of $29.00.

The company has a debt-to-equity ratio of 2.05, a quick ratio of 2.01 and a current ratio of 2.62. The firm has a market capitalization of $763.59 million, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.00 and a beta of 1.51. The company has a 50-day moving average price of $23.36 and a 200-day moving average price of $24.86.

Lantheus (NASDAQ:LNTH) last posted its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.27 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. Lantheus had a return on equity of 51.08% and a net margin of 11.20%. The business had revenue of $85.70 million for the quarter, compared to analyst estimates of $88.72 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue was up .1% on a year-over-year basis. Equities analysts predict that Lantheus Holdings Inc will post 1 EPS for the current year.

In related news, Director Brian A. Markison sold 4,918 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $28.07, for a total transaction of $138,048.26. Following the sale, the director now owns 27,549 shares of the company’s stock, valued at approximately $773,300.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael P. Duffy sold 5,604 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $20.60, for a total value of $115,442.40. Following the sale, the senior vice president now directly owns 138,890 shares in the company, valued at approximately $2,861,134. The disclosure for this sale can be found here. Insiders have sold a total of 124,024 shares of company stock worth $3,136,496 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its stake in Lantheus by 126.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,995 shares of the medical equipment provider’s stock worth $751,000 after buying an additional 16,750 shares during the period. Macquarie Group Ltd. raised its stake in Lantheus by 18.3% during the 2nd quarter. Macquarie Group Ltd. now owns 66,500 shares of the medical equipment provider’s stock worth $1,881,000 after buying an additional 10,300 shares during the period. Hancock Whitney Corp raised its stake in Lantheus by 238.6% during the 2nd quarter. Hancock Whitney Corp now owns 31,798 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 22,408 shares during the period. Mackenzie Financial Corp acquired a new stake in Lantheus during the 2nd quarter worth $361,000. Finally, United Services Automobile Association acquired a new stake in shares of Lantheus in the 2nd quarter valued at about $235,000. 95.72% of the stock is currently owned by institutional investors and hedge funds.

About Lantheus (NASDAQ:LNTH)

Lantheus Holdings, Inc develops, manufactures, and commercializes diagnostic medical imaging agents and products that assist clinicians in the diagnosis and treatment of cardiovascular and other diseases worldwide. Its principal products include DEFINITY, a microbubble contrast agent used in ultrasound exams of the heart; and TechneLite, a technetium generator that provides the nuclear material used in nuclear medicine procedures.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

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