Oppenheimer analyst Michael Wiederhorn maintained a Buy rating on LHC Group (NASDAQ: LHCG) today and set a price target of $110. The company’s shares closed yesterday at $91.43.
Wiederhorn noted:
“LHCG reported Q3:18 adj. EPS of $0.95 (GAAP $0.68), topping OPCO’s estimate of $0.93, and meeting Street consensus of 0.95. Adj-results exclude $0.23 of AFAM merger/acquisition costs, $0.08 of closure/relocation costs and $0.04 of income-tax benefit related to the exercise of stock options. Overall results were strong, with the home-based businesses handily topping our estimate due to strong margins, partially offset by softness from the lumpy facility-based business. Furthermore, impressive organic HH revenue growth (+9.3%) remained steady with recent quarters. Following the quarter, LHCG maintained its FY2018 EPS guidance of $3.45-$3.55, which we believe implies Q4:18 adjusted EPS of $0.92-$1.02 (OPCO/Street prior: $1.04/$1.06). Following the quarter, we are maintaining our FY2018 EPS estimate of $3.54, but tweaking up our FY2019 EPS estimate to $4.14 from $4.09.”
According to TipRanks.com, Wiederhorn is a top 100 analyst with an average return of 15.6% and a 70.3% success rate. Wiederhorn covers the Services sector, focusing on stocks such as Addus Homecare Corp, Community Health, and LifePoint Health.
LHC Group has an analyst consensus of Moderate Buy, with a price target consensus of $108.50, implying a 18.7% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $117 price target.
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Based on LHC Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $16.8 million. In comparison, last year the company had a net profit of $10.91 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.
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LHC Group, Inc. provides post-acute health care services to patients through its home nursing agencies, hospices and long-term acute care hospitals. The company operates through the following business segments: Home Health Services, Hospice Services, Community-Based Services and Facility-Based Services.
