Mary Anne Heino, a director at Lantheus (NASDAQ:LNTH) Holdings, Inc. (NASDAQ:LNTH), recently sold a significant portion of her holdings in the company. According to a recent filing, Heino sold a total of 11,487 shares of Lantheus common stock on November 8, 2024, generating approximately $1,001,217. The shares were sold at prices ranging from $86.32 to $89.58 per share.
Following these transactions, Heino now directly owns 443,436 shares of Lantheus common stock. Additionally, she holds indirect ownership of shares through a Grantor Retained Annuity Trust. The transactions were executed under a pre-established Rule 10b5-1 trading plan, which was adopted on March 13, 2024.
In other recent news, Lantheus Holdings reported robust financial performance in its third quarter of 2024, with consolidated net revenue reaching $378.7 million, an 18.4% increase from the same period 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. The company adjusted its full-year 2024 revenue guidance to a range of $1.51 billion to $1.52 billion and forecasted fully-diluted earnings per share (EPS) for the fiscal year 2024 to between $6.65 and $6.70.
TD (TSX:TD) Cowen maintained a Buy rating on Lantheus, setting a price target of $110, while Leerink Partners reduced their price target for Lantheus to $122.00 from the previous $127.00 but maintained an Outperform rating. These decisions followed recent developments including a CMS update regarding payment calculations for Pylarify and Lantheus' latest financial results. Despite a reduction in the payment rate for Pylarify, Lantheus is actively transitioning to the Average Sales Price (ASP) model, which could mitigate the effects of the lower payment rates. These are among the latest developments for the company.
InvestingPro Insights
While Mary Anne Heino's recent sale of Lantheus Holdings (NASDAQ:LNTH) shares has caught investors' attention, it's crucial to consider the broader financial picture of the company. According to InvestingPro data, Lantheus boasts a market capitalization of $5.92 billion and has demonstrated strong financial performance with a revenue of $1.5 billion over the last twelve months as of Q3 2024, representing a robust growth of 24.15%.
Despite the recent insider sale, InvestingPro Tips highlight that Lantheus has been profitable over the last twelve months and analysts predict continued profitability this year. The company's P/E ratio of 13.59 suggests that the stock may be reasonably valued compared to its earnings. Additionally, Lantheus operates with a moderate level of debt, and its cash flows are sufficient to cover interest payments, indicating financial stability.
However, investors should note that the stock has experienced a significant decline recently, with a 25.93% drop in the past week and a 24.1% decrease over the last month. This aligns with an InvestingPro Tip suggesting that the stock's RSI indicates it may be in oversold territory, potentially presenting a buying opportunity for those who believe in the company's long-term prospects.
For 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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