Royal Bank Of Canada Reaffirms “Buy” Rating for LHC Group (LHCG)
LHC Group (NASDAQ:LHCG)‘s stock had its “buy” rating restated by analysts at Royal Bank Of Canada in a report issued on Tuesday. They currently have a $69.00 price objective on the health services provider’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 7.41% from the company’s previous close.
A number of other equities research analysts have also commented on the stock. Jefferies Group LLC upped their price objective on shares of LHC Group from $56.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $68.00 price objective (up from $55.00) on shares of LHC Group in a research note on Monday, May 8th. Zacks Investment Research raised shares of LHC Group from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Wednesday, April 19th. Benchmark Co. upped their price objective on shares of LHC Group from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, June 8th. Finally, BidaskClub lowered shares of LHC Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $64.38.
LHC Group (NASDAQ LHCG) traded down 0.84% during midday trading on Tuesday, reaching $63.70. 54,295 shares of the company’s stock traded hands. LHC Group has a 1-year low of $32.04 and a 1-year high of $69.35. The stock’s 50 day moving average price is $63.33 and its 200 day moving average price is $53.11. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 29.49 and a beta of 0.80.
In related news, Director Coliseum Capital Management, L sold 14,450 shares of the business’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $65.69, for a total transaction of $949,220.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Donald Dwayne Stelly sold 3,181 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 114,235 shares in the company, valued at approximately $7,421,847.95. The disclosure for this sale can be found here. Insiders have sold a total of 682,839 shares of company stock worth $42,140,531 in the last quarter. 14.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. bought a new position in LHC Group during the fourth quarter worth about $1,535,000. Comerica Bank increased its position in LHC Group by 5.8% in the fourth quarter. Comerica Bank now owns 15,836 shares of the health services provider’s stock worth $732,000 after buying an additional 863 shares during the last quarter. State Street Corp increased its position in LHC Group by 7.8% in the fourth quarter. State Street Corp now owns 373,936 shares of the health services provider’s stock worth $17,094,000 after buying an additional 26,915 shares during the last quarter. Thrivent Financial for Lutherans increased its position in LHC Group by 5.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,050 shares of the health services provider’s stock worth $368,000 after buying an additional 450 shares during the last quarter. Finally, Norges Bank bought a new position in LHC Group during the fourth quarter worth about $7,913,000. Institutional investors own 84.56% 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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