LifePoint Health, Inc. (LPNT) Coverage Initiated at Credit Suisse Group
Investment analysts at Credit Suisse Group began coverage on shares of LifePoint Health, Inc. (NASDAQ:LPNT) in a research report issued to clients and investors on Thursday. The firm set a “neutral” rating and a $54.00 price target on the stock. Credit Suisse Group’s price target points to a potential upside of 16.50% from the company’s current price.
Several other brokerages also recently commented on LPNT. SunTrust Banks, Inc. set a $60.00 price objective on LifePoint Health and gave the company a “hold” rating in a research report on Thursday, October 12th. BMO Capital Markets started coverage on LifePoint Health in a research report on Monday, October 16th. They issued a “market perform” rating and a $59.00 price objective on the stock. ValuEngine upgraded LifePoint Health from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Raymond James Financial, Inc. restated a “market perform” rating on shares of LifePoint Health in a research report on Monday, October 30th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $60.14.
LifePoint Health (NASDAQ:LPNT) traded up $0.15 during midday trading on Thursday, reaching $46.35. The company had a trading volume of 596,749 shares, compared to its average volume of 619,137. The stock has a market capitalization of $1,826.93, a P/E ratio of 11.82, a PEG ratio of 1.20 and a beta of 0.68. 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 has a 12 month low of $45.60 and a 12 month high of $70.95.
LifePoint Health (NASDAQ:LPNT) last released its earnings results on Friday, October 27th. The company reported $0.80 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.15). LifePoint Health had a net margin of 2.45% and a return on equity of 7.01%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm posted $0.94 earnings per share. LifePoint Health’s revenue for the quarter was down .7% on a year-over-year basis. sell-side analysts anticipate that LifePoint Health will post 3.65 earnings per share for the current fiscal year.
LifePoint Health announced that its Board of Directors has initiated a share repurchase plan on Friday, October 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its holdings in shares of LifePoint Health by 0.3% in the second 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 period. US Bancorp DE boosted its holdings in shares of LifePoint Health by 0.8% in the second quarter. US Bancorp DE now owns 1,947 shares of the company’s stock valued at $130,000 after purchasing an additional 16 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of LifePoint Health by 1.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,891 shares of the company’s stock valued at $396,000 after purchasing an additional 56 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of LifePoint Health by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 13,547 shares of the company’s stock valued at $909,000 after purchasing an additional 76 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of LifePoint Health by 10.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,678 shares of the company’s stock valued at $113,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 99.53% of the company’s stock.
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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