Lantheus (NASDAQ:LNTH) Trading Down 2.2% – Here’s Why

Shares of Lantheus Holdings, Inc. (NASDAQ:LNTH) dropped 2.2% during trading on Friday . The stock traded as low as $89.62 and last traded at $89.96. Approximately 363,405 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 1,011,764 shares. The stock had previously closed at $91.94.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Lantheus from a “buy” rating to a “hold” rating in a report on Thursday, November 21st. The Goldman Sachs Group assumed coverage on Lantheus in a research note on Wednesday. They set a “buy” rating and a $143.00 price target on the stock. Redburn Atlantic started coverage on shares of Lantheus in a research report on Tuesday, September 3rd. They set a “buy” rating and a $175.00 target price on the stock. JMP Securities dropped their price target on shares of Lantheus from $125.00 to $112.00 and set a “market outperform” rating for the company in a research note on Thursday, November 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $120.00 price objective (down previously from $135.00) on shares of Lantheus in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.86.

Lantheus Price Performance

The firm has a 50-day moving average of $96.63 and a 200 day moving average of $98.18. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 15.05 and a beta of 0.45.

Institutional Investors Weigh In On Lantheus

Several hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in Lantheus during the third quarter worth approximately $25,000. Signaturefd LLC boosted its stake in shares of Lantheus by 40.5% in the 3rd quarter. Signaturefd LLC now owns 319 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 92 shares in the last quarter. Nkcfo LLC bought a new position in Lantheus in the 2nd quarter valued at approximately $47,000. UMB Bank n.a. grew its stake in shares of Lantheus by 42.1% during the third quarter. UMB Bank n.a. now owns 425 shares of the medical equipment provider’s stock worth $47,000 after buying an additional 126 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Lantheus during the third quarter worth about $51,000. Institutional investors and hedge funds 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.