5 Best-Performing Non-Energy Stocks of 2022

2. Lantheus Holdings, Inc. (NASDAQ:LNTH)

Number of Hedge Fund Holders: 39

YTD Share Price Gain as of September 16: 187.5%

Lantheus Holdings, Inc. (NASDAQ:LNTH) is a Massachusetts-based company that manufactures and commercializes diagnostic and therapeutic products used in the diagnosis and treatment of heart, cancer, and other diseases worldwide. On August 4, the company posted a Q2 non-GAAP EPS of $0.89 and a revenue of $223.72 million, outperforming Street forecasts by $0.19 and $19.21 million, respectively. The revenue surged 121.4% on a year over year basis. Lantheus Holdings, Inc. (NASDAQ:LNTH) stock has skyrocketed about 187.5% YTD as of September 16, making it one of the best-performing stocks of 2022. 

The company reported that it has net cash from operating activities of $72.6 million for the second quarter 2022 and free cash flow was $68.3 million. Lantheus Holdings, Inc. (NASDAQ:LNTH) also raised its full year guidance for 2022.

According to Insider Monkey’s data, 39 hedge funds were long Lantheus Holdings, Inc. (NASDAQ:LNTH) at the end of the second quarter of 2022, compared to 35 funds in the prior quarter. Israel Englander’s Millennium Management is the biggest position holder in the company, with 1.8 million shares worth $120.3 million. 

Here is what Clearbridge Investments Small Cap Strategy has to say about Lantheus Holdings, Inc. (NASDAQ:LNTH) in its Q1 2022 investor letter:

“While companies with immature business models and no profits exist throughout the market, there are certain sectors where they congregate more easily, such as health care. As access to cheap capital recedes, however, many of these specialty drug and biotech companies will likely find it challenging to dismiss long periods of unprofitability. While we have had limited exposure in the sector, our focus on finding high-quality companies at attractive valuations has yielded positive results. For example, Lantheus Holdings (NASDAQ:LNTH) is a global leader in medical diagnostic imaging whose core business suffered during the COVID-19 pandemic due to a dramatic decline in hospital visits. As hospitals return to a level of normalcy, Lantheus’s core business has rebounded. Additionally, in late 2021 the company received approval for its new radio-pharmacological drug, Pylarify, for the treatment of prostate cancer, and initial sales have been well ahead of expectations. We believe it has a strong future in oncology diagnosis and treatment. As a result, Lantheus was our strongest individual performer for the first quarter.”