Share Repurchase Plan Initiated by LifePoint Health (NASDAQ:LPNT) Board of Directors

LifePoint Health (NASDAQ:LPNT) announced that its Board of Directors has initiated a share repurchase plan, which authorizes the company to buyback $200.00 million in outstanding shares on Friday, October 27th, EventVestor reports. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on the company. Robert W. Baird set a $55.00 price objective on LifePoint Health and gave the company a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research upgraded LifePoint Health from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. ValuEngine upgraded LifePoint Health from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. SunTrust Banks, Inc. set a $54.00 price objective on LifePoint Health and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, Leerink Swann restated an “outperform” rating and set a $58.00 price objective (down from $74.00) on shares of LifePoint Health in a research report on Tuesday, October 31st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $60.23.

Shares of LifePoint Health (NASDAQ:LPNT) traded down $1.12 during trading hours on Friday, reaching $44.20. The company had a trading volume of 486,800 shares, compared to its average volume of 419,167. LifePoint Health has a 52 week low of $44.10 and a 52 week high of $70.95. The company has a market capitalization of $1,786.52, a PE ratio of 11.56, a P/E/G ratio of 1.18 and a beta of 0.68. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.65 and a current ratio of 1.85.

LifePoint Health (NASDAQ:LPNT) last announced its quarterly earnings data on Friday, October 27th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.15). LifePoint Health had a return on equity of 7.01% and a net margin of 2.45%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. sell-side analysts anticipate that LifePoint Health will post 3.65 EPS for the current fiscal year.

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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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