Martingale Asset Management L P decreased its holdings in shares of LHC Group, Inc. (NASDAQ:LHCG) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,704 shares of the health services provider’s stock after selling 3,600 shares during the period. Martingale Asset Management L P owned about 0.10% of LHC Group worth $3,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. First Citizens Bank & Trust Co. bought a new stake in shares of LHC Group during the 3rd quarter valued at $204,000. Janney Montgomery Scott LLC bought a new stake in shares of LHC Group during the 3rd quarter valued at $259,000. Raymond James & Associates bought a new stake in shares of LHC Group during the 2nd quarter valued at $243,000. Advisors Preferred LLC bought a new stake in shares of LHC Group during the 3rd quarter valued at $319,000. Finally, Commerce Bank bought a new stake in shares of LHC Group during the 3rd quarter valued at $392,000. 87.79% of the stock is owned by hedge funds and other institutional investors.
Shares of LHCG stock opened at $97.61 on Friday. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 40.22, a P/E/G ratio of 1.36 and a beta of 0.88. LHC Group, Inc. has a 52 week low of $58.65 and a 52 week high of $107.51. 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 announced its quarterly earnings results on Wednesday, October 31st. The health services provider reported $0.95 EPS for the quarter, hitting the consensus estimate 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 quarterly revenue was up 88.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities analysts expect that LHC Group, Inc. will post 3.53 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on LHCG shares. Bank of America set a $119.00 price objective on shares of LHC Group and gave the company a “buy” rating in a research report on Tuesday, September 18th. BidaskClub raised shares of LHC Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 28th. Zacks Investment Research raised shares of LHC Group from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a report on Tuesday, November 6th. Craig Hallum downgraded shares of LHC Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $99.00 to $92.00 in a report on Friday, October 26th. Finally, William Blair reaffirmed a “buy” rating on shares of LHC Group in a report on Thursday, November 1st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $105.77.
In other news, CEO Keith G. Myers sold 6,790 shares of the company’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $95.01, for a total transaction of $645,117.90. Following the sale, the chief executive officer now directly owns 155,475 shares in the company, valued at approximately $14,771,679.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeff Reibel sold 5,239 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $105.26, for a total transaction of $551,457.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,821 shares of company stock worth $23,703,540. Corporate insiders own 6.80% of the company’s stock.
LHC Group Profile
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.
Further Reading: Systematic Risk and Investors
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