Lantheus (NASDAQ:LNTH) Posts Earnings Results, Beats Expectations By $0.08 EPS

Lantheus (NASDAQ:LNTH) issued its quarterly earnings results on Wednesday. The medical equipment provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08, reports. Lantheus had a net margin of 29.80% and a return on equity of 48.36%. The company had revenue of $378.73 million during the quarter, compared to the consensus estimate 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 Stock Up 0.9 %

LNTH opened at $89.09 on Friday. Lantheus has a fifty-two week low of $50.20 and a fifty-two week high of $126.89. The company’s 50-day moving average is $107.71 and its 200 day moving average is $95.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.68 and a quick ratio of 4.41. The firm has a market capitalization of $6.19 billion, a P/E ratio of 14.48 and a beta of 0.51.

Insider Transactions at Lantheus

In other news, Director Gerard Ber sold 15,500 shares of Lantheus stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $96.48, for a total value of $1,495,440.00. Following the completion of the transaction, the director now owns 21,221 shares in the company, valued at $2,047,402.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Lantheus

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Lantheus by 5.6% during the first quarter. Vanguard Group Inc. now owns 7,362,969 shares of the medical equipment provider’s stock valued at $458,271,000 after purchasing an additional 389,828 shares during the last quarter. Farallon Capital Management LLC lifted its position in Lantheus by 53.7% during the second quarter. Farallon Capital Management LLC now owns 2,279,227 shares of the medical equipment provider’s stock valued at $182,999,000 after purchasing an additional 796,000 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Lantheus by 25.3% during the first quarter. Westfield Capital Management Co. LP now owns 1,958,018 shares of the medical equipment provider’s stock valued at $121,867,000 after purchasing an additional 394,837 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Lantheus by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,239,502 shares of the medical equipment provider’s stock worth $99,525,000 after acquiring an additional 19,071 shares during the last quarter. Finally, Swedbank AB lifted its holdings in shares of Lantheus by 21.1% in the 3rd quarter. Swedbank AB now owns 722,243 shares of the medical equipment provider’s stock worth $79,266,000 after acquiring an additional 125,843 shares during the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial dropped their price objective on shares of Lantheus from $141.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Leerink Partners upped their price target on shares of Lantheus from $106.00 to $127.00 and gave the company an “outperform” rating in a research report on Thursday, July 11th. Redburn Atlantic began coverage on shares of Lantheus in a research report on Tuesday, September 3rd. They set a “buy” rating and a $175.00 price objective for the company. B. Riley increased their price objective on shares of Lantheus from $105.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, JMP Securities decreased their price objective on shares of Lantheus from $125.00 to $112.00 and set a “market outperform” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Lantheus has a consensus rating of “Moderate Buy” and an average target price of $124.38.

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.