LHC Group (LHCG) Stake Increased by Voya Investment Management LLC
Voya Investment Management LLC grew its stake in LHC Group (NASDAQ:LHCG) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,097 shares of the health services provider’s stock after acquiring an additional 1,301 shares during the quarter. Voya Investment Management LLC owned 0.21% of LHC Group worth $2,654,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in LHCG. US Bancorp DE increased its stake in shares of LHC Group by 25.1% in the 1st quarter. US Bancorp DE now owns 2,683 shares of the health services provider’s stock valued at $145,000 after acquiring an additional 539 shares during the last quarter. Comerica Bank increased its stake in shares of LHC Group by 3.9% in the 1st quarter. Comerica Bank now owns 16,460 shares of the health services provider’s stock valued at $900,000 after acquiring an additional 624 shares during the last quarter. Swiss National Bank increased its stake in shares of LHC Group by 2.8% in the 1st quarter. Swiss National Bank now owns 25,535 shares of the health services provider’s stock valued at $1,376,000 after acquiring an additional 700 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of LHC Group in the 1st quarter valued at about $248,000. Finally, Karp Capital Management Corp bought a new stake in shares of LHC Group in the 1st quarter valued at about $344,000. 85.93% of the stock is owned by institutional investors.
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LHC Group (NASDAQ LHCG) opened at 65.96 on Monday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 29.19 and a beta of 0.76. LHC Group has a 12 month low of $32.04 and a 12 month high of $73.85. The company has a 50 day moving average price of $66.59 and a 200 day moving average price of $62.31.
LHC Group (NASDAQ:LHCG) last issued its earnings results on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.09. The business had revenue of $260.20 million during the quarter, compared to the consensus estimate of $254.10 million. LHC Group had a return on equity of 9.62% and a net margin of 4.13%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Analysts anticipate that LHC Group will post $2.39 earnings per share for the current fiscal year.
In other LHC Group news, COO Donald Dwayne Stelly sold 2,650 shares of LHC Group stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $65.34, for a total value of $173,151.00. Following the completion of the sale, the chief operating officer now directly owns 109,235 shares in the company, valued at $7,137,414.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 14.80% of the company’s stock.
A number of analysts have recently commented on LHCG shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price target on shares of LHC Group in a research note on Wednesday, September 6th. Bank of America Corporation started coverage on LHC Group in a research note on Monday, August 21st. They issued a “buy” rating and a $76.00 price target for the company. BidaskClub raised LHC Group from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research raised LHC Group from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Saturday, August 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $68.00 price target on shares of LHC Group in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.60.
About LHC Group
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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