Lantheus (NASDAQ:LNTH) Shares Gap Down After Earnings Miss

Lantheus Holdings, Inc. (NASDAQ:LNTH) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $109.77, but opened at $91.77. Lantheus shares last traded at $100.18, with a volume of 541,223 shares traded.

The medical equipment provider reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.07). The firm had revenue of $394.10 million during the quarter, compared to analyst estimates of $382.12 million. Lantheus had a net margin of 29.80% and a return on equity of 51.41%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. B. Riley lifted their price objective on shares of Lantheus from $105.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Mizuho lifted their price target on shares of Lantheus from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. SVB Leerink raised their price objective on Lantheus from $106.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. JMP Securities cut their target price on Lantheus from $130.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday. Finally, Truist Financial decreased their price target on Lantheus from $141.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have 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 presently has an average rating of “Moderate Buy” and an average price target of $119.00.

Insider Activity

In related news, CAO Andrea Sabens sold 341 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $76.89, for a total transaction of $26,219.49. Following the transaction, the chief accounting officer now directly owns 62,898 shares of the company’s stock, valued at $4,836,227.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lantheus news, Director Heinz Christoph Maeusli sold 18,373 shares of Lantheus stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $79.19, for a total value of $1,454,957.87. Following the completion of the sale, the director now directly owns 23,340 shares in the company, valued at $1,848,294.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Andrea Sabens sold 341 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $76.89, for a total transaction of $26,219.49. Following the completion of the sale, the chief accounting officer now owns 62,898 shares of the company’s stock, valued at $4,836,227.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,799 shares of company stock worth $3,769,262. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Lantheus

Several large investors have recently modified their holdings of the company. UMB Bank n.a. lifted its holdings in shares of Lantheus by 161.4% during the 1st quarter. UMB Bank n.a. now owns 400 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 247 shares during the period. GAMMA Investing LLC grew its holdings in shares of Lantheus by 184.1% during the second quarter. GAMMA Investing LLC now owns 321 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 208 shares during the last quarter. Principal Securities Inc. acquired a new stake in Lantheus in the 4th quarter valued at about $28,000. Fidelis Capital Partners LLC acquired a new position in shares of Lantheus during the first quarter worth approximately $34,000. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Lantheus by 53.6% during the first quarter. FinTrust Capital Advisors LLC now owns 665 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 232 shares during the last quarter. 99.06% of the stock is owned by institutional investors.

Lantheus Trading Down 1.0 %

The company has a quick ratio of 4.55, a current ratio of 4.84 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average is $91.79 and its two-hundred day moving average is $72.83. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 14.90 and a beta of 0.51.

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.