Icon Advisers Inc. Co. acquired a new stake in LHC Group, Inc. (NASDAQ:LHCG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,500 shares of the health services provider’s stock, valued at approximately $566,000.
Several other institutional investors also recently made changes to their positions in LHCG. First Citizens Bank & Trust Co. purchased a new position in LHC Group during the 3rd quarter worth approximately $204,000. Bank of Montreal Can raised its position in LHC Group by 251.9% during the 2nd quarter. Bank of Montreal Can now owns 2,481 shares of the health services provider’s stock worth $212,000 after buying an additional 1,776 shares during the last quarter. Cubist Systematic Strategies LLC raised 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 buying an additional 711 shares during the last quarter. First Mercantile Trust Co. purchased a new position in LHC Group during the 2nd quarter worth approximately $235,000. Finally, Everence Capital Management Inc. purchased a new position in LHC Group during the 2nd quarter worth approximately $241,000. 86.50% of the stock is owned by hedge funds and other institutional investors.
LHCG has been the subject of a number of recent research reports. BidaskClub lowered shares of LHC Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research lowered shares of LHC Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Oppenheimer raised their price target on shares of LHC Group from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, August 2nd. Benchmark set a $110.00 price target 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 price target on shares of LHC Group to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Four investment 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 a consensus target price of $105.64.
In other news, SVP Jeff Reibel sold 1,921 shares of the firm’s 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 sale, the senior vice president now owns 8,125 shares of the company’s stock, valued at approximately $764,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith G. Myers sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $95.10, for a total transaction of $7,132,500.00. Following the sale, the chief executive officer now directly owns 200,765 shares in the company, valued at approximately $19,092,751.50. The disclosure for this sale can be found here. Insiders have sold a total of 79,677 shares of company stock worth $7,587,030 in the last ninety days. Corporate insiders own 6.80% of the company’s stock.
Shares of NASDAQ LHCG opened at $96.93 on Friday. The company has a market cap of $3.13 billion, a PE ratio of 40.05, a PEG ratio of 1.67 and a beta of 0.80. LHC Group, Inc. has a 12 month low of $58.65 and a 12 month 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 quarterly earnings data on Wednesday, October 31st. The health services provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $507.00 million for the quarter, compared to analysts’ expectations of $515.03 million. LHC Group had a net margin of 3.85% and a return on equity of 8.23%. The business’s revenue was up 88.0% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. As a group, analysts forecast that LHC Group, Inc. will post 3.52 EPS for the current fiscal year.
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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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