Legal & General Group Plc grew its position in shares of LHC Group, Inc. (NASDAQ:LHCG) by 85.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,040 shares of the health services provider’s stock after buying an additional 29,042 shares during the period. Legal & General Group Plc owned approximately 0.20% of LHC Group worth $5,397,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of LHCG. Alps Advisors Inc. acquired a new stake in LHC Group in the second quarter valued at about $442,000. Schwab Charles Investment Management Inc. boosted its stake in LHC Group by 71.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 193,202 shares of the health services provider’s stock valued at $16,537,000 after buying an additional 80,518 shares in the last quarter. New Amsterdam Partners LLC NY acquired a new stake in LHC Group in the second quarter valued at about $4,434,000. First Trust Advisors LP boosted its stake in LHC Group by 99.4% in the second quarter. First Trust Advisors LP now owns 37,506 shares of the health services provider’s stock valued at $3,210,000 after buying an additional 18,694 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in LHC Group in the second quarter valued at about $429,000. Hedge funds and other institutional investors own 87.04% of the company’s stock.
Several research firms recently weighed in on LHCG. BidaskClub raised LHC Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 28th. Bank of America set a $119.00 price target on LHC Group and gave the company a “buy” rating in a research note on Tuesday, September 18th. Cantor Fitzgerald initiated coverage on LHC Group in a research note on Wednesday, September 12th. They set an “overweight” rating and a $117.00 price target on the stock. SunTrust Banks lifted their price target on LHC Group to $115.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. Finally, Royal Bank of Canada lifted their price target on LHC Group to $101.00 and gave the company a “sector perform” rating in a research note on Friday, August 3rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. LHC Group currently has an average rating of “Buy” and an average price target of $101.91.
LHC Group (NASDAQ:LHCG) last issued its earnings results on Wednesday, August 1st. The health services provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. The business had revenue of $502.00 million during the quarter, compared to the consensus estimate of $509.03 million. LHC Group had a return on equity of 8.33% and a net margin of 3.75%. The firm’s revenue for the quarter was up 95.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. On average, research analysts predict that LHC Group, Inc. will post 3.52 earnings per share for the current year.
In other news, COO Donald Dwayne Stelly sold 2,756 shares of the business’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $99.32, for a total transaction of $273,725.92. Following the completion of the sale, the chief operating officer now owns 104,512 shares in the company, valued at $10,380,131.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jeff Reibel sold 1,921 shares of the business’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 value 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 disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
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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