Convergence Investment Partners LLC Buys Shares of 14,001 LifePoint Health Inc (LPNT)
Convergence Investment Partners LLC bought a new position in LifePoint Health Inc (NASDAQ:LPNT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,001 shares of the company’s stock, valued at approximately $811,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Teacher Retirement System of Texas lifted its holdings in LifePoint Health by 0.3% in the second quarter. Teacher Retirement System of Texas now owns 3,211 shares of the company’s stock worth $216,000 after acquiring an additional 9 shares during the last quarter. US Bancorp DE lifted its holdings in LifePoint Health by 0.8% in the second quarter. US Bancorp DE now owns 1,947 shares of the company’s stock worth $130,000 after acquiring an additional 16 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake 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. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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. Finally, ETRADE Capital Management LLC increased its stake in shares of LifePoint Health by 3.9% in the second quarter. ETRADE Capital Management LLC now owns 6,896 shares of the company’s stock valued at $463,000 after purchasing an additional 262 shares during the period. 99.18% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Marguerite Kondracke sold 3,907 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $44.73, for a total transaction of $174,760.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.76% of the stock is owned by company insiders.
LifePoint Health (NASDAQ:LPNT) last posted its quarterly earnings data on Friday, October 27th. The company reported $0.80 EPS for the quarter, missing the Zacks’ 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 analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned $0.94 EPS. LifePoint Health’s revenue was down .7% compared to the same quarter last year. research analysts expect that LifePoint Health Inc will post 3.64 EPS for the current fiscal year.
LifePoint Health declared that its board has approved a share buyback plan on Friday, October 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
LPNT has been the topic of several analyst reports. ValuEngine upgraded shares of LifePoint Health from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. TheStreet lowered shares of LifePoint Health from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded shares of LifePoint Health from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Piper Jaffray Companies restated a “hold” rating and issued a $66.00 price target on shares of LifePoint Health in a research note on Wednesday, October 4th. Finally, Robert W. Baird set a $69.00 price target on shares of LifePoint Health and gave the company a “buy” rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $60.23.
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LifePoint Health 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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