Lantheus (NASDAQ:LNTH) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Lantheus (NASDAQ:LNTH) released its quarterly earnings data on Wednesday. The medical equipment provider reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.07), Zacks reports. Lantheus had a net margin of 29.80% and a return on equity of 48.36%. The firm had revenue of $394.10 million for the quarter, compared to analyst estimates of $382.12 million. During the same period last year, the business earned $1.40 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. Lantheus updated its FY24 guidance to $6.60-6.70 EPS and its FY 2024 guidance to 6.600-6.700 EPS.

Lantheus Trading Down 1.0 %

Shares of LNTH stock traded down $1.03 during mid-day trading on Friday, hitting $97.59. The company’s stock had a trading volume of 1,147,828 shares, compared to its average volume of 1,796,862. The company’s fifty day simple moving average is $92.18 and its 200-day simple moving average is $73.12. Lantheus has a 52 week low of $50.20 and a 52 week high of $126.89. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.55 and a current ratio of 4.68. The company has a market cap of $6.78 billion, a PE ratio of 14.90 and a beta of 0.51.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Mizuho raised 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. B. Riley raised their price objective on Lantheus from $105.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JMP Securities cut their target price on Lantheus from $130.00 to $125.00 and set a “market outperform” rating on the stock in a report on Thursday. Truist Financial cut their target price on Lantheus from $141.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com downgraded Lantheus from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Insider Transactions at Lantheus

In related news, insider Daniel Niedzwiecki sold 12,873 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $79.86, for a total value of $1,028,037.78. Following the completion of the sale, the insider now directly owns 80,244 shares of the company’s stock, valued at approximately $6,408,285.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Daniel Niedzwiecki sold 12,873 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $79.86, for a total value of $1,028,037.78. Following the completion of the sale, the insider now directly owns 80,244 shares of the company’s stock, valued at approximately $6,408,285.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Andrea Sabens sold 341 shares of Lantheus stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $76.89, for a total value of $26,219.49. Following the transaction, the chief accounting officer now owns 62,898 shares of the company’s stock, valued at approximately $4,836,227.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,799 shares of company stock valued at $3,769,262. Corporate insiders own 1.50% 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.