OppenheimerFunds Inc. Raises Stake in LHC Group (NASDAQ:LHCG)
OppenheimerFunds Inc. boosted its position in LHC Group (NASDAQ:LHCG) by 8.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,746 shares of the health services provider’s stock after buying an additional 1,077 shares during the period. OppenheimerFunds Inc. owned about 0.08% of LHC Group worth $740,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in LHCG. Norges Bank purchased a new stake in LHC Group during the fourth quarter worth $7,913,000. Eagle Asset Management Inc. purchased a new stake in LHC Group during the first quarter worth $6,414,000. State of Tennessee Treasury Department increased its stake in LHC Group by 899.1% in the first quarter. State of Tennessee Treasury Department now owns 119,032 shares of the health services provider’s stock worth $6,416,000 after buying an additional 107,118 shares during the last quarter. Ameriprise Financial Inc. increased its stake in LHC Group by 17.7% in the first quarter. Ameriprise Financial Inc. now owns 542,738 shares of the health services provider’s stock worth $29,254,000 after buying an additional 81,554 shares during the last quarter. Finally, Hood River Capital Management LLC increased its stake in LHC Group by 46.3% in the first quarter. Hood River Capital Management LLC now owns 252,054 shares of the health services provider’s stock worth $13,586,000 after buying an additional 79,752 shares during the last quarter. Institutional investors own 84.63% of the company’s stock.
LHC Group (LHCG) traded up 1.37% during midday trading on Friday, reaching $60.85. The company’s stock had a trading volume of 192,237 shares. The firm has a 50 day moving average price of $64.67 and a 200-day moving average price of $56.16. LHC Group has a 12-month low of $32.04 and a 12-month high of $69.35. The company has a market cap of $1.08 billion, a P/E ratio of 26.92 and a beta of 0.77.
LHC Group (NASDAQ:LHCG) last posted its quarterly earnings data on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.09. LHC Group had a return on equity of 9.48% and a net margin of 4.09%. The business had revenue of $260.20 million for the quarter, compared to analyst estimates of $254.10 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that LHC Group will post $2.36 earnings per share for the current fiscal year.
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A number of equities analysts have commented on LHCG shares. Zacks Investment Research raised LHC Group from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price target (up from $56.00) on shares of LHC Group in a research note on Friday, May 5th. Royal Bank Of Canada reissued a “buy” rating and set a $69.00 target price on shares of LHC Group in a research note on Friday, May 5th. Stephens set a $69.00 target price on LHC Group and gave the company a “buy” rating in a research note on Saturday, May 6th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $68.00 target price (up from $55.00) on shares of LHC Group in a research note on Monday, May 8th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. LHC Group has an average rating of “Buy” and an average price target of $64.38.
In related news, COO Donald Dwayne Stelly sold 3,181 shares of the stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $64.97, for a total value of $206,669.57. Following the transaction, the chief operating officer now owns 114,235 shares of the company’s stock, valued at $7,421,847.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Coliseum Capital Management, L sold 162,524 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $62.80, for a total value of $10,206,507.20. The disclosure for this sale can be found here. Insiders have sold 682,839 shares of company stock worth $42,140,531 in the last ninety days. Corporate insiders own 14.80% 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, 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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