California Public Employees Retirement System lifted its stake in shares of LifePoint Health Inc (NASDAQ:LPNT) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,689 shares of the company’s stock after purchasing an additional 7,903 shares during the period. California Public Employees Retirement System owned about 0.47% of LifePoint Health worth $10,809,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in LifePoint Health by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,678 shares of the company’s stock worth $113,000 after acquiring an additional 164 shares during the last quarter. Shelton Capital Management acquired a new position in LifePoint Health during the second quarter worth about $205,000. Teacher Retirement System of Texas boosted its holdings in LifePoint Health by 0.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,211 shares of the company’s stock valued at $216,000 after purchasing an additional 9 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. acquired a new position in LifePoint Health in the 2nd quarter valued at about $233,000. Finally, Airain ltd acquired a new position in LifePoint Health in the 2nd quarter valued at about $234,000. 99.18% of the stock is owned by institutional investors and hedge funds.
In related news, Director Marguerite Kondracke sold 3,416 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $43.80, for a total transaction of $149,620.80. Following the sale, the director now directly owns 17,479 shares of the company’s stock, valued at approximately $765,580.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.76% of the stock is owned by corporate insiders.
Several equities analysts have weighed in on LPNT shares. Zacks Investment Research lowered shares of LifePoint Health from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Piper Jaffray Companies reiterated a “hold” rating and issued a $66.00 target price on shares of LifePoint Health in a report on Wednesday, October 4th. Robert W. Baird set a $69.00 target price on shares of LifePoint Health and gave the company a “buy” rating in a report on Thursday, October 12th. SunTrust Banks set a $60.00 target price on shares of LifePoint Health and gave the company a “hold” rating in a report on Thursday, October 12th. Finally, BMO Capital Markets started coverage on shares of LifePoint Health in a report on Monday, October 16th. They issued a “market perform” rating and a $59.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the stock. LifePoint Health currently has an average rating of “Hold” and an average target price of $59.14.
Shares of LifePoint Health Inc (NASDAQ LPNT) opened at $48.35 on Friday. The stock has a market cap of $1,810.00, a P/E ratio of 11.46, a PEG ratio of 1.12 and a beta of 0.67. LifePoint Health Inc has a 52 week low of $42.50 and a 52 week high of $70.95. The company has a quick ratio of 1.65, a current ratio of 1.85 and a debt-to-equity ratio of 1.24.
LifePoint Health (NASDAQ:LPNT) last released its quarterly earnings results on Friday, October 27th. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. LifePoint Health had a net margin of 2.45% and a return on equity of 7.01%. LifePoint Health’s revenue was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. sell-side analysts anticipate that LifePoint Health Inc will post 3.64 earnings per share for the current fiscal year.
LifePoint Health announced that its Board of Directors has authorized a stock repurchase program on Friday, October 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
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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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