Lantheus (NASDAQ:LNTH) Releases Earnings Results, Beats Estimates By $0.08 EPS

Lantheus (NASDAQ:LNTH) announced its earnings results on Wednesday. The medical equipment provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08, reports. Lantheus had a return on equity of 44.29% and a net margin of 28.57%. The firm had revenue of $378.73 million during the quarter, compared to analysts’ expectations of $373.58 million. Lantheus updated its FY 2024 guidance to 6.650-6.700 EPS and its FY24 guidance to $6.65-6.70 EPS.

Lantheus Price Performance

NASDAQ LNTH traded down $0.81 on Friday, hitting $87.50. 1,619,155 shares of the company’s stock were exchanged, compared to its average volume of 913,265. The firm’s 50-day moving average price is $107.33 and its two-hundred day moving average price is $95.69. Lantheus has a fifty-two week low of $50.20 and a fifty-two week high of $126.89. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 14.56 and a beta of 0.51.

Insiders Place Their Bets

In related news, Director Gerard Ber sold 15,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $96.48, for a total value of $1,495,440.00. Following the sale, the director now owns 21,221 shares in the company, valued at $2,047,402.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LNTH. GAMMA Investing LLC grew its stake 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 valued at $26,000 after acquiring an additional 208 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Lantheus in the first quarter worth about $34,000. Signaturefd LLC raised its holdings in shares of Lantheus by 40.5% during the third quarter. Signaturefd LLC now owns 319 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 92 shares during the last quarter. Nkcfo LLC bought a new stake in Lantheus during the second quarter worth approximately $47,000. Finally, UMB Bank n.a. grew its position in Lantheus by 42.1% in 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. 99.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LNTH has been the subject of several research reports. StockNews.com upgraded Lantheus from a “hold” rating to a “buy” rating in a report on Friday. Redburn Atlantic began coverage on Lantheus in a research report on Tuesday, September 3rd. They set a “buy” rating and a $175.00 target price on the stock. B. Riley boosted their price target on Lantheus from $105.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Truist Financial restated a “buy” rating and issued a $120.00 target price (down previously from $135.00) on shares of Lantheus in a research note on Friday. Finally, JMP Securities lowered their price target on Lantheus from $125.00 to $112.00 and set a “market outperform” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.50.

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.