Bank of New York Mellon Corp increased its position in shares of LHC Group (NASDAQ:LHCG) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 258,776 shares of the health services provider’s stock after buying an additional 1,564 shares during the period. Bank of New York Mellon Corp owned about 1.42% of LHC Group worth $17,569,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its stake in shares of LHC Group by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,449 shares of the health services provider’s stock worth $641,000 after buying an additional 24 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of LHC Group by 1.7% during the first quarter. Louisiana State Employees Retirement System now owns 6,100 shares of the health services provider’s stock worth $329,000 after buying an additional 100 shares during the period. Arizona State Retirement System increased its stake in shares of LHC Group by 1.3% during the second quarter. Arizona State Retirement System now owns 7,818 shares of the health services provider’s stock worth $531,000 after buying an additional 100 shares during the period. Texas Permanent School Fund increased its stake in shares of LHC Group by 1.4% during the second quarter. Texas Permanent School Fund now owns 10,944 shares of the health services provider’s stock worth $743,000 after buying an additional 153 shares during the period. Finally, Mason Street Advisors LLC increased its stake in shares of LHC Group by 7.0% during the first quarter. Mason Street Advisors LLC now owns 3,485 shares of the health services provider’s stock worth $188,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 85.93% of the company’s stock.

In related news, COO Donald Dwayne Stelly sold 2,650 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $65.34, for a total transaction of $173,151.00. Following the completion of the transaction, the chief operating officer now owns 109,235 shares in the company, valued at approximately $7,137,414.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 14.80% of the company’s stock.

A number of brokerages recently issued reports on LHCG. Zacks Investment Research downgraded LHC Group from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price target on shares of LHC Group in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “hold” rating and issued a $63.00 price target on shares of LHC Group in a report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of LHC Group in a report on Friday, June 9th. Finally, BidaskClub downgraded LHC Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $66.60.

Shares of LHC Group (NASDAQ:LHCG) opened at 64.96 on Tuesday. The company’s 50 day moving average price is $63.65 and its 200 day moving average price is $59.94. The firm has a market capitalization of $1.19 billion, a P/E ratio of 28.74 and a beta of 0.76. LHC Group has a one year low of $32.04 and a one year high of $69.35.

LHC Group (NASDAQ:LHCG) last released its quarterly earnings data on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.09. LHC Group had a return on equity of 9.62% and a net margin of 4.13%. The business had revenue of $260.20 million during the quarter, compared to analyst estimates of $254.10 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts expect that LHC Group will post $2.39 EPS for the current fiscal year.

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LHC Group 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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Institutional Ownership by Quarter for LHC Group (NASDAQ:LHCG)

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