Northern Trust Corp boosted its position in LHC Group, Inc. (NASDAQ:LHCG) by 51.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 572,094 shares of the health services provider’s stock after buying an additional 194,902 shares during the period. Northern Trust Corp owned approximately 1.83% of LHC Group worth $48,966,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of LHCG. Wells Fargo & Company MN increased its position in LHC Group by 99.4% in the 1st quarter. Wells Fargo & Company MN now owns 204,363 shares of the health services provider’s stock valued at $12,581,000 after buying an additional 101,854 shares in the last quarter. SG Americas Securities LLC bought a new stake in LHC Group in the 1st quarter valued at about $105,000. Envestnet Asset Management Inc. bought a new stake in LHC Group in the 1st quarter valued at about $134,000. BlackRock Inc. increased its position in LHC Group by 6.4% in the 1st quarter. BlackRock Inc. now owns 2,611,003 shares of the health services provider’s stock valued at $160,732,000 after buying an additional 156,347 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in LHC Group by 42.8% in the 1st quarter. JPMorgan Chase & Co. now owns 132,574 shares of the health services provider’s stock valued at $8,161,000 after buying an additional 39,732 shares in the last quarter. 87.04% of the stock is owned by institutional investors and hedge funds.
In other news, COO Donald Dwayne Stelly sold 2,756 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $99.32, for a total value of $273,725.92. Following the transaction, the chief operating officer now owns 104,512 shares in the company, valued at approximately $10,380,131.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeff Reibel sold 1,921 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $94.12, for a total value of $180,804.52. Following the completion of the transaction, the senior vice president now owns 8,125 shares in the company, valued at approximately $764,725. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.
LHCG has been the subject of a number of research analyst reports. Bank of America set a $119.00 target price on LHC Group and gave the company a “buy” rating in a research report on Tuesday, September 18th. Zacks Investment Research lowered LHC Group from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. Cantor Fitzgerald started coverage on LHC Group in a research note on Wednesday, September 12th. They set an “overweight” rating and a $117.00 price target for the company. BidaskClub upgraded LHC Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Finally, SunTrust Banks lifted their price target on LHC Group to $115.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. LHC Group has a consensus rating of “Buy” and a consensus price target of $101.91.
LHCG stock opened at $90.53 on Friday. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 38.80, a P/E/G ratio of 1.62 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.59 and a quick ratio of 1.59. LHC Group, Inc. has a 52-week low of $58.65 and a 52-week high of $103.79.
LHC Group (NASDAQ:LHCG) last released its quarterly earnings results on Wednesday, August 1st. The health services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $502.00 million during the quarter, compared to the consensus estimate of $509.03 million. LHC Group had a return on equity of 8.33% and a net margin of 3.75%. The company’s quarterly revenue was up 95.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, analysts forecast that LHC Group, Inc. will post 3.52 EPS for the current year.
About LHC Group
LHC Group, Inc, a health care provider, specializes in the post-acute continuum of care primarily for Medicare beneficiaries in the United States. The company operates through four segments: Home Health Services, Hospice Services, Community-Based Services, and Facility-Based Services. The Home Health Services segment offers home nursing services, including wound care and dressing changes, cardiac rehabilitation, infusion therapy, pain management, pharmaceutical administration, skilled observation and assessment, and patient education; medically-oriented social services; and physical, occupational, and speech therapy services.
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