LHC Group (LHCG) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of LHC Group (NASDAQ:LHCG) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
According to Zacks, “LHC Group provides post-acute healthcare services primarily to Medicare beneficiaries in rural markets in the southern United States. They provide home-based services through their home nursing agencies and hospices and facility-based services through their long-term acute care hospitals and outpatient rehabilitation clinics. “
LHCG has been the subject of a number of other reports. Royal Bank Of Canada restated a buy rating and issued a $69.00 price target on shares of LHC Group in a research report on Friday, May 5th. Benchmark Co. upped their price target on LHC Group from $63.00 to $72.00 and gave the company a buy rating in a research report on Thursday, June 8th. Jefferies Group LLC restated a buy rating and issued a $65.00 price target (up from $56.00) on shares of LHC Group in a research report on Friday, May 5th. Stephens set a $69.00 price target on LHC Group and gave the company a buy rating in a research report on Saturday, May 6th. Finally, SunTrust Banks, Inc. upgraded LHC Group from a hold rating to a buy rating and upped their price target for the company from $50.00 to $56.00 in a research report on Friday, March 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $64.38.
Shares of LHC Group (LHCG) traded up 1.06% during trading on Thursday, hitting $65.50. The stock had a trading volume of 6,464 shares. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 30.32 and a beta of 0.80. The firm’s 50-day moving average is $63.33 and its 200 day moving average is $53.11. LHC Group has a 52-week low of $32.04 and a 52-week high of $69.35.
In related news, Director Coliseum Capital Management, L sold 8,632 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $60.25, for a total value of $520,078.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Donald Dwayne Stelly sold 3,181 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $64.97, for a total value of $206,669.57. Following the completion of the transaction, the chief operating officer now owns 114,235 shares of the company’s stock, valued at $7,421,847.95. The disclosure for this sale can be found here. Insiders sold 682,839 shares of company stock valued at $42,140,531 over the last quarter. 14.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capstone Asset Management Co. acquired a new position in shares of LHC Group during the second quarter valued at $245,000. Point72 Asset Management L.P. raised its position in LHC Group by 292.3% in the first quarter. Point72 Asset Management L.P. now owns 439,399 shares of the health services provider’s stock valued at $23,684,000 after buying an additional 327,399 shares in the last quarter. Iguana Healthcare Management LLC raised its position in LHC Group by 16.7% in the first quarter. Iguana Healthcare Management LLC now owns 35,000 shares of the health services provider’s stock valued at $1,887,000 after buying an additional 5,000 shares in the last quarter. State Street Corp raised its position in LHC Group by 4.7% in the first quarter. State Street Corp now owns 391,375 shares of the health services provider’s stock valued at $21,095,000 after buying an additional 17,439 shares in the last quarter. Finally, Bank of America Corp DE raised its position in LHC Group by 123.5% in the first quarter. Bank of America Corp DE now owns 34,658 shares of the health services provider’s stock valued at $1,868,000 after buying an additional 19,154 shares in the last quarter. Institutional investors own 84.75% of the company’s stock.
LHC Group Company 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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