Millennium Management LLC trimmed its position in shares of LHC Group, Inc. (NASDAQ:LHCG) by 31.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 398,960 shares of the health services provider’s stock after selling 181,709 shares during the period. Millennium Management LLC’s holdings in LHC Group were worth $34,147,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LHCG. Wells Fargo & Company MN lifted its position in shares of LHC Group by 99.4% during the first quarter. Wells Fargo & Company MN now owns 204,363 shares of the health services provider’s stock valued at $12,581,000 after buying an additional 101,854 shares during the last quarter. Rhumbline Advisers lifted its position in shares of LHC Group by 2.4% during the first quarter. Rhumbline Advisers now owns 38,940 shares of the health services provider’s stock valued at $2,397,000 after buying an additional 919 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of LHC Group during the first quarter valued at about $105,000. Victory Capital Management Inc. lifted its position in shares of LHC Group by 7.1% during the first quarter. Victory Capital Management Inc. now owns 18,770 shares of the health services provider’s stock valued at $1,156,000 after buying an additional 1,237 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of LHC Group by 5.1% during the first quarter. Swiss National Bank now owns 28,635 shares of the health services provider’s stock valued at $1,763,000 after buying an additional 1,400 shares during the last quarter. 87.04% of the stock is owned by institutional investors and hedge funds.
In related news, COO Donald Dwayne Stelly sold 2,756 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $99.32, for a total value of $273,725.92. Following the transaction, the chief operating officer now owns 104,512 shares in the company, valued at approximately $10,380,131.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jeff Reibel sold 1,921 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $94.12, for a total transaction of $180,804.52. Following the completion of the transaction, the senior vice president now owns 8,125 shares in the company, valued at approximately $764,725. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.
LHC Group (NASDAQ:LHCG) last issued its quarterly earnings results on Wednesday, August 1st. The health services provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.06. LHC Group had a net margin of 3.75% and a return on equity of 8.33%. The company had revenue of $502.00 million for the quarter, compared to the consensus estimate of $509.03 million. During the same quarter in the prior year, the company earned $0.63 EPS. LHC Group’s quarterly revenue was up 95.0% on a year-over-year basis. analysts anticipate that LHC Group, Inc. will post 3.52 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of LHC Group to $120.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Oppenheimer upped their price objective on shares of LHC Group from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 2nd. BidaskClub downgraded shares of LHC Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 10th. SunTrust Banks upped their price objective on shares of LHC Group to $115.00 and gave the company a “buy” rating in a report on Thursday, September 13th. Finally, Zacks Investment Research upgraded shares of LHC Group from a “sell” rating to a “hold” rating and set a $104.00 price objective on the stock in a report on Saturday, August 4th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $101.91.
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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