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Paul Blanchfield, the President of Lantheus (NASDAQ:LNTH) Holdings, Inc. (NASDAQ:LNTH), recently sold 2,000 shares of the company's common stock. The shares were sold at a price of $79.65 each, amounting to a total transaction value of $159,300. Following this sale, Blanchfield retains ownership of 97,092 shares in the company. This transaction was executed under a Rule 10b5-1 trading plan that Blanchfield adopted on March 1, 2024.
In addition to the sale, a separate transaction involving the disposition of 355 shares was reported, though this was at no cost, aligning with typical administrative adjustments or transfers. After these transactions, Blanchfield's holdings stand at 96,737 shares, which includes an acquisition of 112 shares through the company's employee stock purchase plan on September 13, 2024.
In other recent news, Lantheus Holdings has been the subject of several analyst reports. TD Cowen maintained a Buy rating on the company, setting a price target at $110. This endorsement came after a recent update from the Centers for Medicare & Medicaid Services (CMS) regarding payment calculations for Pylarify, a product offered by Lantheus. Despite a lower payment rate for Pylarify, the impact on Lantheus is expected to be minimal as the company is transitioning to the Average Sales Price model.
Meanwhile, Leerink Partners reduced their price target for Lantheus to $122.00 from the previous $127.00 but maintained an Outperform rating. This adjustment followed Lantheus' strong financial performance in Q3 2024, with consolidated net revenue reaching $378.7 million, marking an 18.4% increase from the previous year. The company's lead product, PYLARIFY, contributed significantly to this growth, with sales hitting approximately $260 million, a 20% year-over-year increase. Lantheus also reported growth in DEFINITY sales, which totaled $77 million.
In addition to these financial results, Lantheus has updated its full-year 2024 revenue guidance to a range of $1.51 billion to $1.52 billion, and adjusted its forecast for fully-diluted earnings per share for the fiscal year 2024 to between $6.65 and $6.70. These are among the latest developments for the company.
InvestingPro Insights
As Paul Blanchfield reduces his stake in Lantheus Holdings, Inc. (NASDAQ:LNTH), investors might be curious about the company's current financial standing and market performance. According to InvestingPro data, Lantheus boasts a market capitalization of $5.29 billion and a price-to-earnings ratio of 12.26, suggesting a potentially attractive valuation for a company in the healthcare sector.
The company's financial health appears robust, with revenue growth of 24.15% over the last twelve months as of Q3 2024, reaching $1.5 billion. This growth is complemented by a strong gross profit margin of 64.38% and an impressive EBITDA growth of 127.49% over the same period.
However, recent market sentiment has been less favorable. InvestingPro Tips indicate that the stock has taken a significant hit over the last week, with a 1-week price total return of -9.35%. Moreover, the 1-month price total return stands at -34.68%, suggesting a broader downward trend.
Despite these short-term setbacks, InvestingPro Tips also highlight that Lantheus operates with a moderate level of debt and has cash flows that can sufficiently cover interest payments. This financial stability could provide some reassurance to investors concerned about the recent insider selling activity.
For those seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Lantheus Holdings, providing deeper insights into the company's financial health and market position.
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