BlackRock Inc. raised its position in shares of LHC Group (NASDAQ:LHCG) by 43,223.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,969,496 shares of the health services provider’s stock after buying an additional 1,964,950 shares during the period. BlackRock Inc. owned 10.85% of LHC Group worth $106,157,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wells Fargo & Company MN increased its position in LHC Group by 34.5% in the first quarter. Wells Fargo & Company MN now owns 62,946 shares of the health services provider’s stock worth $3,393,000 after buying an additional 16,155 shares during the period. Sawgrass Asset Management LLC acquired a new position in LHC Group during the first quarter worth approximately $241,000. Nationwide Fund Advisors increased its position in LHC Group by 7.7% in the first quarter. Nationwide Fund Advisors now owns 25,889 shares of the health services provider’s stock worth $1,395,000 after buying an additional 1,862 shares during the period. Boston Advisors LLC increased its position in LHC Group by 37.8% in the first quarter. Boston Advisors LLC now owns 11,619 shares of the health services provider’s stock worth $626,000 after buying an additional 3,190 shares during the period. Finally, Legato Capital Management LLC acquired a new position in LHC Group during the first quarter worth approximately $940,000. 84.95% of the stock is currently owned by institutional investors and hedge funds.
LHC Group (NASDAQ:LHCG) opened at 64.31 on Friday. The stock has a 50 day moving average of $63.27 and a 200-day moving average of $57.46. LHC Group has a 12 month low of $32.04 and a 12 month high of $69.35. The stock has a market cap of $1.18 billion, a P/E ratio of 28.46 and a beta of 0.77.
LHC Group (NASDAQ:LHCG) last released its earnings results on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $260.20 million for the quarter, compared to analyst estimates of $254.10 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts forecast that LHC Group will post $2.39 EPS for the current fiscal year.
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A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of LHC Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Royal Bank Of Canada reissued a “buy” rating on shares of LHC Group in a research report on Tuesday, June 13th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 target price on shares of LHC Group in a research report on Friday, June 9th. BidaskClub downgraded shares of LHC Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Benchmark Co. raised their target price on shares of LHC Group from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, June 8th. Nine analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $65.75.
In other LHC Group news, Director Coliseum Capital Management, L sold 14,450 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $65.69, for a total value of $949,220.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Donald Dwayne Stelly sold 3,181 shares of the stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $64.97, for a total transaction of $206,669.57. Following the completion of the transaction, the chief operating officer now owns 114,235 shares in the company, valued at $7,421,847.95. The disclosure for this sale can be found here. Insiders have sold 546,207 shares of company stock worth $33,813,733 over the last 90 days. Insiders own 14.80% of the company’s stock.
About LHC Group
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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