Zacks Investment Research cut shares of LHC Group (NASDAQ:LHCG) from a buy rating to a hold rating in a report published on Wednesday, October 4th.

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. “

A number of other analysts also recently issued reports on LHCG. Bank of America Corporation assumed coverage on LHC Group in a research report on Monday, August 21st. They set a buy rating and a $76.00 price objective for the company. BidaskClub upgraded LHC Group from a hold rating to a buy rating in a report on Friday, August 18th. Benchmark Co. lifted their price objective on LHC Group from $63.00 to $72.00 and gave the company a buy rating in a research note on Thursday, June 8th. Royal Bank Of Canada reiterated a buy rating and issued a $70.00 price objective on shares of LHC Group in a research note on Wednesday, September 6th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $65.00 price objective on shares of LHC Group in a research note on Friday, June 9th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. LHC Group presently has an average rating of Buy and an average target price of $66.60.

LHC Group (NASDAQ:LHCG) traded down 0.41% during mid-day trading on Wednesday, hitting $65.96. 104,882 shares of the stock traded hands. LHC Group has a 1-year low of $32.04 and a 1-year high of $73.85. The company’s 50 day moving average price is $66.49 and its 200-day moving average price is $62.19. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 29.19 and a beta of 0.76.

LHC Group (NASDAQ:LHCG) last issued its earnings results on Wednesday, August 2nd. The health services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. Analysts predict that LHC Group will post $2.39 earnings per share for the current year.

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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 transaction of $173,151.00. Following the transaction, the chief operating officer now owns 109,235 shares of the company’s stock, valued at $7,137,414.90. The transaction was disclosed in a filing with the SEC, which is available at this link. 14.80% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. USA Financial Portformulas Corp acquired a new position in shares of LHC Group in the second quarter valued at approximately $662,000. Piedmont Investment Advisors LLC acquired a new position in shares of LHC Group in the second quarter valued at approximately $220,000. Sterling Capital Management LLC increased its holdings in shares of LHC Group by 24.3% in the second quarter. Sterling Capital Management LLC now owns 48,245 shares of the health services provider’s stock valued at $3,275,000 after purchasing an additional 9,426 shares during the period. Castleark Management LLC acquired a new position in shares of LHC Group in the second quarter valued at approximately $7,661,000. Finally, Linscomb & Williams Inc. acquired a new position in shares of LHC Group in the second quarter valued at approximately $2,268,000. 85.93% of the stock is currently owned by institutional investors and hedge funds.

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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