Shares of LifePoint Health, Inc. (NASDAQ:LPNT) reached a new 52-week low on Friday following a dissappointing earnings announcement. The stock traded as low as $50.55 and last traded at $50.50, with a volume of 873,169 shares. The stock had previously closed at $55.90.
The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.16). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. LifePoint Health had a net margin of 2.61% and a return on equity of 7.40%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS.
LifePoint Health declared that its Board of Directors has initiated a share repurchase plan on Friday, October 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have issued reports on the company. BMO Capital Markets assumed coverage on LifePoint Health in a research note on Monday, October 16th. They issued a “market perform” rating and a $59.00 price objective for the company. SunTrust Banks, Inc. set a $60.00 price objective on LifePoint Health and gave the company a “hold” rating in a research note on Thursday, October 12th. Robert W. Baird set a $69.00 price objective on LifePoint Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $66.00 price target on shares of LifePoint Health in a research note on Wednesday, October 4th. Finally, Zacks Investment Research downgraded LifePoint Health from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.54.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in LifePoint Health by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 3,266,963 shares of the company’s stock worth $213,986,000 after purchasing an additional 120,201 shares during the period. Arizona State Retirement System boosted its stake in LifePoint Health by 2.4% in the 2nd quarter. Arizona State Retirement System now owns 17,000 shares of the company’s stock worth $1,142,000 after purchasing an additional 400 shares during the period. Bank of New York Mellon Corp boosted its stake in LifePoint Health by 33.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 617,904 shares of the company’s stock worth $41,492,000 after purchasing an additional 154,811 shares during the period. US Bancorp DE boosted its stake in LifePoint Health by 0.8% in the 2nd quarter. US Bancorp DE now owns 1,947 shares of the company’s stock worth $130,000 after purchasing an additional 16 shares during the period. Finally, State Street Corp boosted its stake in LifePoint Health by 0.7% in the 1st quarter. State Street Corp now owns 1,109,362 shares of the company’s stock worth $72,662,000 after purchasing an additional 7,590 shares during the period. Institutional investors and hedge funds own 99.53% of the company’s stock.
The company has a 50-day moving average of $56.66 and a 200 day moving average of $60.65. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 11.033 and a beta of 0.84.
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About LifePoint Health
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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