Eqis Capital Management Inc. lowered its stake in shares of LHC Group (NASDAQ:LHCG) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,896 shares of the health services provider’s stock after selling 590 shares during the period. Eqis Capital Management Inc.’s holdings in LHC Group were worth $400,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Swiss National Bank raised its stake in shares of LHC Group by 2.8% in the first quarter. Swiss National Bank now owns 25,535 shares of the health services provider’s stock valued at $1,376,000 after buying an additional 700 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in LHC Group during the fourth quarter valued at about $1,535,000. Norges Bank purchased a new position in LHC Group during the fourth quarter valued at about $7,913,000. Vanguard Group Inc. increased its position in LHC Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 1,432,008 shares of the health services provider’s stock valued at $77,185,000 after buying an additional 54,279 shares during the last quarter. Finally, Legal & General Group Plc increased its position in LHC Group by 1.2% in the first quarter. Legal & General Group Plc now owns 25,087 shares of the health services provider’s stock valued at $1,353,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.
Shares of LHC Group (NASDAQ LHCG) traded up 0.70% during midday trading on Friday, reaching $64.31. The company’s stock had a trading volume of 97,793 shares. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 28.46 and a beta of 0.77. LHC Group has a 52 week low of $32.04 and a 52 week high of $69.35. The company has a 50 day moving average of $63.36 and a 200-day moving average of $57.34.
LHC Group (NASDAQ:LHCG) last issued its quarterly earnings results on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business posted $0.52 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Equities research analysts predict that LHC Group will post $2.39 earnings per share for the current year.
Several equities analysts recently issued reports on LHCG shares. 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 issued a $65.00 target price on shares of LHC Group in a research report on Friday, June 9th. Benchmark Co. upped their target price on LHC Group from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, June 8th. Stephens set a $69.00 target price on LHC Group and gave the company a “buy” rating in a research report on Saturday, May 6th. Finally, BidaskClub downgraded LHC Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. Nine investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $65.75.
In other news, Director Coliseum Capital Management, L sold 107,463 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $60.63, for a total transaction of $6,515,481.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Donald Dwayne Stelly sold 3,181 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $64.97, for a total transaction of $206,669.57. Following 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. Over the last quarter, insiders have sold 546,207 shares of company stock worth $33,813,733. Company 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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