Lantheus (LNTH) Stock Price Up 10.1% Following Better-Than-Expected Earnings

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Lantheus Holdings Inc (NASDAQ:LNTH) shares rose 10.1% on Wednesday following a stronger than expected earnings report. The company traded as high as $15.33 and last traded at $13.97. Approximately 795,503 shares traded hands during mid-day trading, an increase of 121% from the average daily volume of 359,379 shares. The stock had previously closed at $12.69.

The medical equipment provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $88.90 million during the quarter, compared to the consensus estimate of $83.53 million. Lantheus had a return on equity of 560.19% and a net margin of 37.53%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS.

LNTH has been the subject of a number of research analyst reports. Credit Suisse Group dropped their price objective on Lantheus from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, August 2nd. Zacks Investment Research upgraded Lantheus from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 4th. BidaskClub upgraded Lantheus from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. ValuEngine downgraded Lantheus from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 4th. Finally, Wells Fargo & Co dropped their price objective on Lantheus from $26.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $23.75.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new stake in Lantheus in the 2nd quarter valued at $104,000. Itau Unibanco Holding S.A. acquired a new stake in Lantheus in the 2nd quarter valued at $104,000. NumerixS Investment Technologies Inc increased its holdings in Lantheus by 1,000.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 7,700 shares of the medical equipment provider’s stock valued at $113,000 after purchasing an additional 7,000 shares in the last quarter. Sun Life Financial INC acquired a new stake in Lantheus in the 2nd quarter valued at $140,000. Finally, SG Americas Securities LLC acquired a new stake in Lantheus in the 2nd quarter valued at $151,000. Hedge funds and other institutional investors own 92.62% of the company’s stock.

The firm has a market cap of $494.07 million, a PE ratio of 13.97, a price-to-earnings-growth ratio of 2.91 and a beta of 1.32. The company has a quick ratio of 3.14, a current ratio of 3.86 and a debt-to-equity ratio of 5.94.

About Lantheus (NASDAQ:LNTH)

Lantheus Holdings, Inc develops, manufactures, and commercializes diagnostic medical imaging agents and products that assist clinicians in the diagnosis and treatment of cardiovascular and other diseases worldwide. Its principal products include DEFINITY, an ultrasound contrast agent used in ultrasound exams of the heart; TechneLite, a technetium generator that provides the essential nuclear material used in nuclear medicine procedures; and Xenon, a radiopharmaceutical gas used to assess pulmonary function and imaging cerebral blood flow.

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