Lantheus Holdings Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today bets that Neuraceq, the Alzheimer's pipeline and the new PYLARIFY formulation will grow faster than price pressure and fresh competition eat at the core product — and receives rare metric quality at a P/E around 26 for it, but without a permanent CEO in place. Whoever waits can read three things in the coming quarterly reports (10-Q): Does the PYLARIFY price stabilize under the new CMS reimbursement? Does Neuraceq keep scaling? And who takes the CEO chair? Three answers that turn the badge back into a verdict. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Lantheus delivers Terry Smith numbers straight from the textbook — high returns, genuine cash conversion, a clean balance sheet — and deservedly ranks no. 3 in our Quality scanner (U.S. selection, July 18, 2026). But the scanner measures the past: roughly 64 percent of revenue hangs on PYLARIFY, whose extra Medicare payment expired at the end of 2024, whose net sales price is falling and whose NCE exclusivity ended in May 2026; net income fell from $326.7 million to $233.6 million (2023–2025), and half of the Q1 2026 EPS jump was the one-time SPECT gain. Whoever invests here buys a race between a young Alzheimer's diagnostics franchise and an eroding blockbuster. Not investment advice.
Quality metrics & cash conversion
Return on equity around 23 percent, operating margin around 22 percent, debt-to-equity of 0.6, interest coverage around 20, Piotroski 7 of 9 — and $390.1 million of operating cash flow against $36.1 million of capital expenditures in fiscal year 2025 (10-K FY 2025; scanner data as of July 18, 2026).
Product concentration & price pressure
Roughly 64 percent of revenue comes from PYLARIFY, which shrank 6.5 percent in 2025 and another 6.5 percent in Q1 2026 — per 10-K/10-Q because of a lower net sales price after TPT Status expired on December 31, 2024; CMS now reimburses on a mean-unit-cost basis.
Exclusivity & competition
PYLARIFY's five-year NCE exclusivity ended in May 2026; three Ga-68 competitors and another F-18 agent are on the market, copper-64 tracers in development, generics possible per the 10-K. Against that stand patents and the hard-to-copy cyclotron delivery network for the 110-minute isotope F-18.
Balance sheet & capital allocation
A solid balance sheet ($1.09 billion of equity, Altman Z above 8), but cash fell from $912.8 million to $359.1 million within a year — $575.6 million net for the Evergreen and Life Molecular acquisitions plus roughly $300 million of buybacks; the $575 million convertible note also comes due in 2027 (10-K FY 2025).
Repositioning & Alzheimer's pipeline
Neuraceq already contributed $35.4 million of revenue in Q1 2026; MK-6240 and NAV-4694 dock onto the anti-amyloid boom, and the legacy SPECT business was sold. The bet is strategically coherent but young — and its architect has not been named: CEO search since January 1, 2026, interim leadership by the board chair, the president gone since November 2025 (10-K FY 2025, Item 1A).
Worth Noting
LNTH landed on the research list via the in-house Terry Smith Quality scanner (U.S. selection, rank 3, as of July 18, 2026). The filter replicates the published Fundsmith criteria (ROE ≥ 15%, EBIT margin ≥ 20%, cash conversion, debt-to-equity ≤ 1, interest coverage ≥ 10) — deliberately without a valuation threshold and without a moat check.
Scanner metrics (P/E, P/S, P/FCF, ROE) are computed on trailing or estimated figures; after exclusivity and TPT Status expired, the earnings base can change faster than trailing metrics reflect — the order of magnitude matters more than the decimal.
Price and valuation figures dated July 18, 2026 (market value roughly $7.1 billion); analyses are evergreen, daily prices are not a buy argument. Identity verified via EDGAR submissions (CIK 1521036, domestic filer 10-K/10-Q, only former name "Lantheus MI Holdings, Inc." pre-IPO 2014/2015).
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at LNTH since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 50.10 $ to 110.90 $ · Last price: 100.80 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Drug Manufacturers - Specialty & Generic
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Lantheus Holdings Inc LNTH | 6.6 | 24.1 | 14.0 | 60.1 | 21.7 | 0.5 | 98.3 |
| Takeda Pharmaceutical Co Ltd TAK | 60.9 | – | 23.2 | 64.5 | 16.5 | 4.3 | 28.2 |
| Teva Pharma Industries Ltd TEVA | 45.7 | 65.3 | 17.8 | 52.5 | 4.0 | 4.3 | 106.3 |
| Zoetis Inc ZTS | 30.8 | 12.2 | 9.5 | 71.7 | 36.6 | 2.3 | -49.5 |
| United Therapeutics Corporation UTHR | 21.1 | 18.0 | 11.0 | 86.1 | 41.7 | 10.6 | 23.2 |
| Viatris Inc VTRS | 19.4 | – | 11.9 | 40.3 | 6.8 | -3.0 | 84.4 |
| Neurocrine Biosciences Inc NBIX | 15.3 | 24.1 | 17.4 | 64.5 | 22.8 | 21.5 | 6.4 |
| Elanco Animal Health ELAN | 11.3 | – | 19.3 | 55.4 | 12.3 | 6.2 | 23.4 |
| Dr. Reddy’s Laboratories Ltd RDY | 10.1 | 28.9 | 14.2 | 50.2 | 4.3 | 8.6 | -19.9 |
| Median of companies shown | 19.4 | 24.1 | 14.2 | 60.1 | 16.5 | 4.3 | 23.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 302 | 57 | 27 | 0.82 | 50 | -107 | 256 |
| 2017 | 331 | 52 | 123 | 3.17 | 55 | 23 | 384 |
| 2018 | 343 | 64 | 41 | 1.03 | 61 | 71 | 440 |
| 2019 | 347 | 52 | 32 | 0.79 | 80 | 115 | 406 |
| 2020 | 339 | -4 | -13 | -0.25 | 16 | 514 | 870 |
| 2021 | 425 | -61 | -71 | -1.06 | 54 | 464 | 864 |
| 2022 | 935 | 36 | 28 | 0.40 | 282 | 447 | 1,321 |
| 2023 | 1,296 | 365 | 327 | 4.65 | 305 | 816 | 1,651 |
| 2024 | 1,534 | 457 | 312 | 4.36 | 545 | 1,088 | 1,980 |
| 2025 | 1,542 | 311 | 234 | 3.41 | 390 | 1,090 | 2,227 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -0.17 | -111.50 | 391 | 10.50 | -3.00 | 155 | 139 |
| 2025: Q1 | 1.02 | -45.40 | 373 | 0.80 | 19.60 | 108 | 99 |
| 2025: Q2 | 1.12 | 27.40 | 378 | -4.10 | 20.80 | 87 | 74 |
| 2025: Q3 | 0.41 | -77.10 | 384 | 1.40 | 7.20 | 105 | 95 |
| 2025: Q4 | 0.82 | – | 407 | 4.00 | 13.30 | 90 | 81 |
| 2026: Q1 | 1.80 | 76.40 | 377 | 1.20 | 31.40 | 125 | 122 |
| 2026: Q2 | 1.11 | -0.90 | 388 | 2.70 | 19.30 | 92 | 92 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 16 of our scanner strategies — each hit links to the scanner.
Backtested Scanners
Growth
Quality & Balance Sheet
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- Mark Minervini: Trend Criteria — 1 Month
- Mike Webster: Power Trend Leader
- Mike Webster: Swing Trading List
- Near 52-Week High
- Stan Weinstein: Stage 2
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 5.60 | 5.45 – 5.69 | 1,499 | -7.9% | 3 |
| 12/31/2027 | 6.38 | 5.44 – 7.63 | 1,654 | 13.9% | 10 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 1.7% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $509.7M |
|---|---|
| Market cap | $6.59B |
| Free cash flow in year ten | $605.6M |
| Terminal value as a share of market value | 48.4% |
For comparison: over the past five years free cash flow grew by 146.1% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Lantheus kommerzialisiert eigene KI-Medizinprodukte: Die Sparte Digital Solutions (Tochter EXINI) vertreibt die FDA-zugelassene und CE-gekennzeichnete KI-Software aPROMISE (in den USA als PYLARIFY AI vermarktet) sowie den Automated Bone Scan Index an Kliniken für den klinischen Einsatz und an Pharmaunternehmen für Entwicklungszwecke — laut 10-K Teil des kommerziellen Portfolios mit Erlösen in der Kategorie Strategic Partnerships and Other Revenue. KI-Produkte sind damit dokumentierte Umsatzquelle (Vorrang-Regel: verkauft vor nutzt); daneben beschreibt das 10-K auch operativen KI-Einsatz im Konzern.
View the full file — quotes, sources, reviewed filings
„Our Digital Solutions include artificial intelligence medical device software, such as aPROMISE and Automated Bone Scan Index, both of which are FDA cleared and received a European Conformity Marking."
Unsere Digital Solutions umfassen KI-Medizinprodukte-Software wie aPROMISE und den Automated Bone Scan Index, die beide von der FDA zugelassen sind und eine europäische Konformitätskennzeichnung (CE) erhalten haben.
10-K · 2026-02-26 · View SEC filing
„aPROMISE, or PYLARIFY AI is an FDA-cleared AI medical device software that is designed to allow healthcare professionals and researchers to perform standardized quantitative assessment of PSMA PET/CT images in prostate cancer, including those images obtained by using PYLARIFY."
aPROMISE, auch PYLARIFY AI, ist eine FDA-zugelassene KI-Medizinprodukte-Software, die es medizinischem Fachpersonal und Forschern ermöglichen soll, PSMA-PET/CT-Aufnahmen bei Prostatakrebs standardisiert quantitativ auszuwerten — einschließlich der mit PYLARIFY gewonnenen Aufnahmen.
10-K · 2026-02-26 · View SEC filing
„We deploy AI and other emerging technologies in various facets of our operations and we continue to explore further use cases for AI."
Wir setzen KI und andere neue Technologien in verschiedenen Bereichen unseres Geschäftsbetriebs ein und prüfen laufend weitere KI-Anwendungsfälle.
10-K · 2026-02-26 · View SEC filing
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-08-06 · 10-Q 2025-05-07 · 10-K 2026-02-26 · 10-K 2025-02-26
Rated on July 18, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 18.1%
- More than 10% revenue growth is expected for the coming year 13.4%
- Share count grows by less than 3% a year -1.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 23.5%
- Gross margin at 40% or higher and without meaningful erosion 61.1%
- Goodwill from acquisitions does not grow faster than revenue 10.8%
- Net debt below twice EBITDA 0.6 x EBITDA
- Operating cash flow covers the profits of the last three years 367 m
- Return on capital at 15% or higher, or up versus two years ago 16.4%
- Insiders hold at least 10% or are net buyers 2.1%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
7/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 19.9%
- Exp. sales growth 3Y > 5% 3.6%
- EBIT growth 10Y > 5% 20.8%
- Exp. EBIT growth 3Y > 5% 36.7%
- Net debt < 4x EBIT 0.8x
- EBIT positive, 10Y straight 8
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 183.2%
- ROCE > 15% 16.4%
- Expected return > 10% 44.0%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 4, 2026 | Lantheus Alpha Therapy, LLC | 10% Owner | Sell | 167,149 | 3.15 | 526,051 |
| Sep 3, 2026 | Lantheus Alpha Therapy, LLC | 10% Owner | Sell | 80,783 | 3.11 | 250,896 |
| Sep 2, 2026 | Lantheus Alpha Therapy, LLC | 10% Owner | Sell | 42,129 | 3.11 | 131,219 |
| Sep 1, 2026 | Lantheus Holdings, Inc. | 10% Owner | Sell | 35,769 | 3.12 | 111,574 |
| Aug 31, 2026 | Lantheus Holdings, Inc. | 10% Owner | Sell | 78,145 | 3.14 | 245,610 |
| Aug 31, 2026 | Marshall Robert J. Jr. | CFO and Treasurer | Other | 721 | 100.96 | 72,792 |
| Aug 17, 2026 | Dinkelborg Ludger | See Remarks | Other | 2,536 | 100.91 | 255,908 |
| Aug 17, 2026 | Brown Kimberly | Chief Accounting Officer | Other | 463 | 100.91 | 46,721 |
The company
About the Company
Lantheus Holdings, Inc. entwickelt, fertigt und kommerzialisiert diagnostische und therapeutische Produkte, die Klinikern bei der Diagnose und Behandlung von Herz-, Krebs- und anderen Erkrankungen weltweit helfen.
- Employees
- 1,193
- Headquarters
- Bedford, MA
- Address
- 201 Burlington Road, 01730 Bedford, United States
- Phone
- 978 671 8001
- Website
- lantheus.com
- IPO Date
- 06/25/2015
- ISIN
- US5165441032
Management
| Name | Title | Birth Year |
|---|---|---|
| Mary Anne Heino | CEO & Executive Chairperson | 1960 |
| Robert J. Marshall Jr., CFA | CFO & Treasurer | 1966 |
| Daniel M. Niedzwiecki | Chief Administrative Officer, General Counsel & Corporate Secretary | – |
| Amanda M. Morgan | Chief Commercial Officer | 1979 |
| Ludger Dinkelborg Ph.D. | Head of Research & Development | 1963 |
| Neil Holland | VP of Business Insights & Operations | – |
| Kimberly Brown | Chief Accounting Officer | 1990 |
| Lee Anne Howe | Chief Information Officer | – |
| Mark Richard Kinarney | Vice President of Investor Relations | – |
| Linda S. Lennox | VP of Corporate Communications & Chief of Staff | 1965 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/06/2026 Lantheus Holdings, Inc. (LNTH): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 08/04/2026 Lantheus Holdings, Inc. (LNTH): Entry into a Material Definitive Agreement; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
- 08/03/2026 Lantheus Holdings, Inc. (LNTH): Regulation FD Disclosure; Other Events; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.