Zacks Investment Research Upgrades LHC Group Inc. (LHCG) to Buy
LHC Group Inc. (NASDAQ:LHCG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $49.00 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.32% from the stock’s previous close.
According to Zacks, “LHC Group provides post-acute healthcare services primarily to Medicare beneficiaries in rural markets in the southern United States. They provide home-based services through their home nursing agencies and hospices and facility-based services through their long-term acute care hospitals and outpatient rehabilitation clinics. “
Separately, Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $46.00 target price (down previously from $50.00) on shares of LHC Group in a research note on Tuesday, September 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. LHC Group has an average rating of “Buy” and a consensus target price of $48.00.
LHC Group (NASDAQ:LHCG) opened at 43.24 on Tuesday. LHC Group has a 1-year low of $32.04 and a 1-year high of $48.10. The stock has a market cap of $785.93 million, a price-to-earnings ratio of 22.06 and a beta of 0.98. The firm’s 50 day moving average price is $37.81 and its 200-day moving average price is $40.14.
LHC Group (NASDAQ:LHCG) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. LHC Group had a return on equity of 9.59% and a net margin of 3.84%. The business had revenue of $230 million for the quarter, compared to analyst estimates of $224.60 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts anticipate that LHC Group will post $2.07 earnings per share for the current year.
In other LHC Group news, Director Kenneth E. Thorpe sold 1,450 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $36.88, for a total value of $53,476.00. Following the completion of the transaction, the director now owns 17,550 shares in the company, valued at $647,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joshua L. Proffitt sold 2,098 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $41.80, for a total transaction of $87,696.40. Following the completion of the transaction, the insider now owns 64,717 shares of the company’s stock, valued at approximately $2,705,170.60. The disclosure for this sale can be found here. 18.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its position in LHC Group by 12.0% in the second quarter. Cubist Systematic Strategies LLC now owns 2,357 shares of the company’s stock valued at $102,000 after buying an additional 253 shares in the last quarter. Mason Street Advisors LLC bought a new position in LHC Group during the second quarter valued at about $110,000. Emerald Acquisition Ltd. bought a new position in LHC Group during the third quarter valued at about $114,000. BlackRock Inc. increased its position in LHC Group by 409.3% in the second quarter. BlackRock Inc. now owns 3,871 shares of the company’s stock valued at $167,000 after buying an additional 3,111 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in LHC Group by 110.9% in the second quarter. BNP Paribas Arbitrage SA now owns 4,340 shares of the company’s stock valued at $188,000 after buying an additional 2,282 shares in the last quarter. Institutional investors own 80.92% of the company’s stock.
LHC Group Company Profile
LHC Group, Inc is a holding company. The Company provides post-acute healthcare services to patients through its home nursing 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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