BlackRock Inc. grew its position in shares of LHC Group (NASDAQ:LHCG) by 18.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,325,510 shares of the health services provider’s stock after acquiring an additional 356,014 shares during the period. BlackRock Inc. owned about 13.11% of LHC Group worth $157,879,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in shares of LHC Group by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 578,956 shares of the health services provider’s stock worth $39,306,000 after acquiring an additional 36,218 shares during the period. TIAA CREF Investment Management LLC grew its holdings in shares of LHC Group by 27.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 161,596 shares of the health services provider’s stock worth $10,971,000 after acquiring an additional 34,451 shares during the period. Teachers Advisors LLC grew its holdings in shares of LHC Group by 6.6% during the 2nd quarter. Teachers Advisors LLC now owns 44,384 shares of the health services provider’s stock worth $3,013,000 after acquiring an additional 2,742 shares during the period. AJO LP purchased a new position in shares of LHC Group during the 2nd quarter worth approximately $6,300,000. Finally, Martingale Asset Management L P grew its holdings in shares of LHC Group by 44.3% during the 2nd quarter. Martingale Asset Management L P now owns 35,504 shares of the health services provider’s stock worth $2,411,000 after acquiring an additional 10,903 shares during the period. Hedge funds and other institutional investors own 85.93% of the company’s stock.
Shares of LHC Group (NASDAQ LHCG) opened at 66.23 on Friday. The stock has a 50 day moving average price of $66.42 and a 200-day moving average price of $62.10. LHC Group has a 12 month low of $32.04 and a 12 month high of $73.85. The company has a market capitalization of $1.21 billion, a PE ratio of 29.31 and a beta of 0.76.
LHC Group (NASDAQ:LHCG) last released its quarterly earnings results on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.09. LHC Group had a net margin of 4.13% and a return on equity of 9.62%. The business had revenue of $260.20 million for the quarter, compared to analyst estimates of $254.10 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts forecast that LHC Group will post $2.39 EPS for the current year.
In other LHC Group news, COO Donald Dwayne Stelly sold 2,650 shares of LHC Group stock in a transaction on Friday, September 8th. The shares were sold at an average price of $65.34, for a total value of $173,151.00. Following the transaction, the chief operating officer now directly owns 109,235 shares of the company’s stock, valued at $7,137,414.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.80% of the stock is currently owned by insiders.
A number of research firms have weighed in on LHCG. Zacks Investment Research downgraded LHC Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Robert W. Baird reiterated a “hold” rating and set a $63.00 target price on shares of LHC Group in a report on Tuesday, September 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $70.00 target price on shares of LHC Group in a report on Wednesday, September 6th. Bank of America Corporation began coverage on LHC Group in a report on Monday, August 21st. They set a “buy” rating and a $76.00 target price on the stock. Finally, BidaskClub upgraded LHC Group from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $66.60.
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LHC Group Company Profile
LHC Group, Inc is a holding company. The Company provides post-acute healthcare services to patients through its home nursing agencies, hospice agencies, community-based services agencies and long-term acute care hospitals (LTACHs). The Company operates through four segments: home health services, hospice services, community-based services and facility-based services.
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