Royal Bank of Canada increased its holdings in shares of LHC Group, Inc. (NASDAQ:LHCG) by 39.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 615,249 shares of the health services provider’s stock after purchasing an additional 174,480 shares during the quarter. Royal Bank of Canada owned 3.37% of LHC Group worth $37,875,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in LHC Group during the 1st quarter worth approximately $105,000. Envestnet Asset Management Inc. acquired a new position in LHC Group during the 1st quarter worth approximately $134,000. Cubist Systematic Strategies LLC boosted its position in LHC Group by 36.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,636 shares of the health services provider’s stock worth $162,000 after acquiring an additional 711 shares during the last quarter. Jefferies Group LLC acquired a new position in LHC Group during the 4th quarter worth approximately $200,000. Finally, M&T Bank Corp acquired a new position in LHC Group during the 1st quarter worth approximately $228,000. 94.26% of the stock is owned by institutional investors and hedge funds.
In other LHC Group news, SVP Jeff Reibel sold 3,000 shares of the firm’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $72.35, for a total transaction of $217,050.00. Following the completion of the sale, the senior vice president now owns 12,546 shares of the company’s stock, valued at approximately $907,703.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua L. Proffitt sold 10,556 shares of the firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $75.20, for a total value of $793,811.20. The disclosure for this sale can be found here. In the last three months, insiders sold 16,863 shares of company stock valued at $1,274,628. 6.80% of the stock is currently owned by insiders.
LHCG has been the subject of a number of recent research reports. ValuEngine raised LHC Group from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. BidaskClub raised LHC Group from a “hold” rating to a “buy” rating in a research report on Friday, May 18th. William Blair reaffirmed a “buy” rating on shares of LHC Group in a research report on Sunday, May 6th. Craig Hallum upped their price target on LHC Group from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $84.00 price target on shares of LHC Group in a research report on Wednesday, April 4th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.22.
LHC Group opened at $86.30 on Tuesday, according to Marketbeat. The company has a market capitalization of $1.58 billion, a PE ratio of 34.29, a P/E/G ratio of 1.37 and a beta of 0.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.65 and a quick ratio of 1.65. LHC Group, Inc. has a 12 month low of $56.76 and a 12 month high of $87.42.
LHC Group (NASDAQ:LHCG) last released its quarterly earnings data on Wednesday, May 2nd. The health services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $291.10 million during the quarter, compared to the consensus estimate of $295.21 million. LHC Group had a return on equity of 9.29% and a net margin of 4.07%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. sell-side analysts forecast that LHC Group, Inc. will post 3.5 earnings per share 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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