State of Michigan Retirement System Has $1.34 Million Position in Lantheus Holdings, Inc. (NASDAQ:LNTH)

State of Michigan Retirement System cut its stake in Lantheus Holdings, Inc. (NASDAQ:LNTH) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Lantheus were worth $1,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LNTH. Farallon Capital Management LLC increased its stake in 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 valued at $92,316,000 after purchasing an additional 1,269,900 shares in the last quarter. Norges Bank acquired a new stake in Lantheus during the 4th quarter worth $29,956,000. Swedbank AB bought a new position in Lantheus during the first quarter worth about $26,346,000. Nomura Holdings Inc. grew its stake in Lantheus by 105.3% in the fourth quarter. Nomura Holdings Inc. now owns 20,678 shares of the medical equipment provider’s stock valued at $1,282,000 after acquiring an additional 407,507 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of 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.

Lantheus Stock Performance

Shares of LNTH opened at $104.81 on Friday. The company has a current ratio of 4.68, a quick ratio of 4.55 and a debt-to-equity ratio of 0.55. Lantheus Holdings, Inc. has a 12 month low of $50.20 and a 12 month high of $126.89. The firm has a fifty day simple moving average of $99.57 and a 200 day simple moving average of $79.23. The stock has a market capitalization of $7.26 billion, a price-to-earnings ratio of 16.00 and a beta of 0.51.

Lantheus (NASDAQ:LNTH) last posted 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). Lantheus had a return on equity of 48.36% and a net margin of 29.80%. The business had revenue of $394.10 million for the quarter, compared to analyst estimates of $382.12 million. During the same quarter in the prior year, the company earned $1.40 earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. Research analysts forecast that Lantheus Holdings, Inc. will post 6.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LNTH. Mizuho lifted their price objective on Lantheus from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 3rd. JMP Securities reduced their price target on shares of Lantheus from $130.00 to $125.00 and set a “market outperform” rating for the company in a report on Thursday, August 1st. Leerink Partners increased their price objective on shares of Lantheus from $106.00 to $127.00 and gave the stock an “outperform” rating in a research report on Thursday, July 11th. Truist Financial cut their price objective on shares of Lantheus from $141.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, B. Riley upped their target price 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. Two equities research 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, Lantheus currently has a consensus rating of “Moderate Buy” and an average price target of $119.00.

Insider Transactions at Lantheus

In related news, CAO Andrea Sabens sold 341 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $79.77, for a total value of $27,201.57. Following the completion of the transaction, the chief accounting officer now directly owns 62,557 shares of the company’s stock, valued at $4,990,171.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Lantheus news, CAO Andrea Sabens sold 341 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $79.77, for a total value of $27,201.57. Following the completion of the sale, the chief accounting officer now owns 62,557 shares in the company, valued at $4,990,171.89. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Paul Blanchfield sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $96.39, for a total transaction of $192,780.00. Following the transaction, the president now owns 98,980 shares in the company, valued at $9,540,682.20. The disclosure for this sale can be found here. Insiders have sold a total of 41,193 shares of company stock worth $3,949,202 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Lantheus 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.