Fmr LLC lifted its holdings in LHC Group, Inc. (NASDAQ:LHCG) by 297.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,151,406 shares of the health services provider’s stock after acquiring an additional 861,952 shares during the period. Fmr LLC owned 3.68% of LHC Group worth $98,548,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in LHCG. Bank of Montreal Can raised its position in LHC Group by 251.9% in the 2nd quarter. Bank of Montreal Can now owns 2,481 shares of the health services provider’s stock worth $212,000 after purchasing an additional 1,776 shares during the period. Cubist Systematic Strategies LLC raised its position in LHC Group by 36.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 2,636 shares of the health services provider’s stock worth $162,000 after purchasing an additional 711 shares during the period. First Mercantile Trust Co. purchased a new stake in LHC Group in the 2nd quarter worth about $235,000. Everence Capital Management Inc. purchased a new stake in LHC Group in the 2nd quarter worth about $241,000. Finally, Raymond James & Associates purchased a new stake in LHC Group in the 2nd quarter worth about $243,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:LHCG opened at $96.93 on Friday. The company has a market cap of $2.99 billion, a PE ratio of 40.05, a P/E/G ratio of 1.60 and a beta of 0.80. LHC Group, Inc. has a one year low of $58.65 and a one year high of $103.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61.
LHC Group (NASDAQ:LHCG) last issued its earnings results on Wednesday, October 31st. The health services provider reported $0.95 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.95. The business had revenue of $507.00 million for the quarter, compared to analyst estimates of $515.03 million. LHC Group had a net margin of 3.85% and a return on equity of 8.23%. The company’s quarterly revenue was up 88.0% compared to the same quarter last year. During the same period last year, the company posted $0.64 earnings per share. Sell-side analysts anticipate that LHC Group, Inc. will post 3.52 earnings per share for the current year.
In other news, CEO Keith G. Myers sold 75,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $95.10, for a total transaction of $7,132,500.00. Following the transaction, the chief executive officer now directly owns 200,765 shares in the company, valued at $19,092,751.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jeff Reibel sold 1,921 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $94.12, for a total transaction of $180,804.52. Following the transaction, the senior vice president now owns 8,125 shares in the company, valued at $764,725. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,677 shares of company stock worth $7,587,030. Corporate insiders own 6.80% of the company’s stock.
A number of analysts recently weighed in on LHCG shares. SunTrust Banks increased their price objective on shares of LHC Group to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. BidaskClub lowered shares of LHC Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Royal Bank of Canada increased their price objective on shares of LHC Group to $101.00 and gave the stock a “sector perform” rating in a research report on Friday, August 3rd. Benchmark set a $110.00 target price on shares of LHC Group and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Jefferies Financial Group raised their target price on shares of LHC Group to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $105.64.
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LHC Group Profile
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.
Further Reading: Hedge Funds Explained
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