LifePoint Health, Inc. (NASDAQ:LPNT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “LifePoint Health’s stock has underperformed the industry year to date. Its focus on strategic growth through acquisition and integration of well-positioned hospitals in the growing areas of the U.S. have contributed to its top line growth. The company has also been divesting non-core operations to focus on core growth areas. Its sufficient cash enables the company to make acquisitions and buyback shares. Following second-quarter results, the company trimmed its 2017 guidance on a challenging volume environment and weak revenue growth. The company is faced with increasing expenses which has outpaced revenue growth thereby squeezing operating margins. High bad debt is another concern. The stock has seen the Zacks Consensus Estimate for current-year earnings being revised 2.9% downward over the last 60 days.”
Several other equities analysts have also commented on the stock. ValuEngine lowered shares of LifePoint Health from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. TheStreet lowered shares of LifePoint Health from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. BidaskClub lowered shares of LifePoint Health from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $77.00 price target on shares of LifePoint Health in a research note on Wednesday, July 5th. Finally, Leerink Swann upgraded shares of LifePoint Health from a “market perform” rating to an “outperform” rating and increased their price target for the company from $73.00 to $74.00 in a research note on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. LifePoint Health presently has a consensus rating of “Hold” and an average target price of $66.18.
LifePoint Health (NASDAQ LPNT) traded up 1.35% on Monday, reaching $56.45. 310,248 shares of the company traded hands. LifePoint Health has a 1-year low of $50.60 and a 1-year high of $70.95. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.64 and a beta of 0.85. The stock has a 50 day moving average of $58.28 and a 200-day moving average of $62.22.
LifePoint Health (NASDAQ:LPNT) last released its earnings results on Tuesday, August 1st. The company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.06. LifePoint Health had a net margin of 2.61% and a return on equity of 7.40%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that LifePoint Health will post $4.06 EPS for the current year.
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In related news, Chairman William F. Carpenter III sold 82,347 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $64.15, for a total transaction of $5,282,560.05. Following the completion of the sale, the chairman now directly owns 504,535 shares of the company’s stock, valued at $32,365,920.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman William F. Carpenter III sold 17,653 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $65.06, for a total value of $1,148,504.18. Following the sale, the chairman now directly owns 439,841 shares of the company’s stock, valued at $28,616,055.46. The disclosure for this sale can be found here. 7.28% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in LPNT. Bank of Montreal Can lifted its holdings in LifePoint Health by 18.7% in the first quarter. Bank of Montreal Can now owns 1,946 shares of the company’s stock valued at $128,000 after acquiring an additional 306 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in LifePoint Health by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,228 shares of the company’s stock valued at $932,000 after acquiring an additional 200 shares during the period. Wells Fargo & Company MN lifted its holdings in LifePoint Health by 22.6% in the first quarter. Wells Fargo & Company MN now owns 21,951 shares of the company’s stock valued at $1,438,000 after acquiring an additional 4,045 shares during the period. Canada Pension Plan Investment Board lifted its holdings in LifePoint Health by 58.0% in the first quarter. Canada Pension Plan Investment Board now owns 27,800 shares of the company’s stock valued at $1,821,000 after acquiring an additional 10,200 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in LifePoint Health by 2.9% in the first quarter. Great West Life Assurance Co. Can now owns 23,349 shares of the company’s stock valued at $1,528,000 after acquiring an additional 652 shares during the period. 99.53% of the stock is owned by institutional investors.
LifePoint Health Company Profile
LifePoint Health, Inc, through its subsidiaries, owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities. As of December 31, 2016, the Company operated 72 hospital campuses in 22 states, having a total of 9,424 licensed beds. It offers a range of general and specialized healthcare services to patients through a network of hospitals and outpatient facilities.
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