Peregrine Asset Advisers Inc. Buys Shares of 45,703 Lantheus Holdings, Inc. (NASDAQ:LNTH)

Peregrine Asset Advisers Inc. acquired a new stake in shares of Lantheus Holdings, Inc. (NASDAQ:LNTH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 45,703 shares of the medical equipment provider’s stock, valued at approximately $3,669,000. Lantheus accounts for about 1.5% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 18th largest position. Peregrine Asset Advisers Inc. owned 0.07% of Lantheus at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Farallon Capital Management LLC increased its holdings in shares of Lantheus by 595.3% in the first quarter. Farallon Capital Management LLC now owns 1,483,227 shares of the medical equipment provider’s stock worth $92,316,000 after purchasing an additional 1,269,900 shares during the last quarter. Norges Bank bought a new stake in Lantheus in the 4th quarter worth approximately $29,956,000. Swedbank AB bought a new position in shares of Lantheus during the 1st quarter valued at approximately $26,346,000. Nomura Holdings Inc. grew its stake in shares of Lantheus by 105.3% in the 4th quarter. Nomura Holdings Inc. now owns 20,678 shares of the medical equipment provider’s stock worth $1,282,000 after buying an additional 407,507 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Lantheus by 25.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,958,018 shares of the medical equipment provider’s stock worth $121,867,000 after acquiring an additional 394,837 shares in the last quarter. Institutional investors own 99.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LNTH. Truist Financial reduced their price objective on Lantheus from $141.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Leerink Partners upped their price objective on shares of Lantheus from $106.00 to $127.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. B. Riley boosted their price target on shares of Lantheus from $105.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Redburn Atlantic began coverage on shares of Lantheus in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $175.00 target price for the company. Finally, JMP Securities reduced their price target on Lantheus from $130.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Lantheus has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Lantheus Price Performance

Shares of Lantheus stock opened at $107.51 on Tuesday. The firm has a market cap of $7.45 billion, a PE ratio of 16.41 and a beta of 0.50. Lantheus Holdings, Inc. has a twelve month low of $50.20 and a twelve month high of $126.89. The business has a 50-day moving average price of $104.91 and a 200 day moving average price of $82.86. The company has a quick ratio of 4.41, a current ratio of 4.68 and a debt-to-equity ratio of 0.55.

Lantheus (NASDAQ:LNTH) last announced its quarterly earnings data on Wednesday, July 31st. The medical equipment provider reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.07). The company had revenue of $394.10 million for the quarter, compared to analysts’ expectations of $382.12 million. Lantheus had a return on equity of 48.36% and a net margin of 29.80%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 EPS. Sell-side analysts predict that Lantheus Holdings, Inc. will post 5.99 earnings per share for the current fiscal year.

Insider Activity at Lantheus

In other Lantheus news, CAO Andrea Sabens sold 341 shares of Lantheus stock in a transaction on Monday, July 15th. The shares were sold at an average price of $123.15, for a total value of $41,994.15. Following the transaction, the chief accounting officer now directly owns 62,216 shares in the company, valued at $7,661,900.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Andrea Sabens sold 341 shares of Lantheus stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $123.15, for a total transaction of $41,994.15. Following the completion of the sale, the chief accounting officer now directly owns 62,216 shares in the company, valued at approximately $7,661,900.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary J. Pruden sold 12,530 shares of Lantheus stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $95.04, for a total value of $1,190,851.20. Following the transaction, the director now directly owns 11,978 shares of the company’s stock, valued at approximately $1,138,389.12. The disclosure for this sale can be found here. Insiders have sold 40,852 shares of company stock valued at $3,922,001 over the last quarter. 1.50% of the stock is owned by insiders.

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.