Meyer Handelman Co. acquired a new stake in shares of LHC Group, Inc. (NASDAQ:LHCG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,836 shares of the health services provider’s stock, valued at approximately $266,000.
Other large investors have also added to or reduced their stakes in the company. Chase Investment Counsel Corp acquired a new position in shares of LHC Group during the 4th quarter worth approximately $500,000. Financial Gravity Companies Inc. acquired a new position in shares of LHC Group during the 4th quarter worth approximately $49,000. Sawgrass Asset Management LLC increased its holdings in shares of LHC Group by 293.0% during the 4th quarter. Sawgrass Asset Management LLC now owns 21,515 shares of the health services provider’s stock worth $2,020,000 after acquiring an additional 16,040 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of LHC Group by 1,171.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,959 shares of the health services provider’s stock worth $3,000,000 after acquiring an additional 29,445 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of LHC Group by 4.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 34,602 shares of the health services provider’s stock worth $3,248,000 after acquiring an additional 1,557 shares during the last quarter. Institutional investors and hedge funds own 90.50% of the company’s stock.
A number of research analysts recently weighed in on LHCG shares. Zacks Investment Research raised LHC Group from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a report on Tuesday, November 6th. Craig Hallum lowered LHC Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $99.00 to $92.00 in a report on Friday, October 26th. William Blair restated a “buy” rating on shares of LHC Group in a research note on Thursday, November 1st. Barclays assumed coverage on LHC Group in a research note on Friday, December 14th. They issued an “equal weight” rating and a $105.00 price target for the company. Finally, UBS Group assumed coverage on LHC Group in a research note on Thursday, November 15th. They issued a “buy” rating and a $109.00 price target for the company. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. LHC Group presently has an average rating of “Buy” and an average price target of $105.77.
In other news, CEO Keith G. Myers sold 75,000 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $103.40, for a total transaction of $7,755,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tyree G. Wilburn sold 4,792 shares of the company’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $102.09, for a total value of $489,215.28. Following the sale, the director now owns 25,012 shares of the company’s stock, valued at $2,553,475.08. The disclosure for this sale can be found here. Insiders sold a total of 241,821 shares of company stock valued at $24,422,790 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
LHC Group Company 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.
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