LHCG Produces Solid 3Q Results

Oppenheimer has published a research report on LHC Group, Inc. LHCG following 3Q results that were above expectations and came as a result of strong top-line growth. In the report, Oppenheimer writes "LHCG produced solid results, reporting Q3:10 EPS of $0.73, compared to our estimate of $0.71 and the Street consensus of $0.70. The beat was driven by strong top-line growth, which exceeded our estimate handily ($166.6M vs. $159.1M estimate). Following the quarter, LHC Group increased its revenue expectations to a range of $625M-635M (up from $615M-625M), but maintained '10 EPS guidance of $2.75-$2.85. Furthermore, the company announced a $50M share repurchase authorization. Overall, this was a strong quarter and although the regulatory environment remains challenging, we believe this is a good time to establish a long-term position in LHC Group." Oppenheimer maintains its Outperform rating and $36 price target. LHC Group closed yesterday at $26.79.