LifePoint Health, Inc. (LPNT) Shares Down 4.2% Following Weak Earnings

Shares of LifePoint Health, Inc. (NASDAQ:LPNT) fell 4.2% during mid-day trading on Monday following a weaker than expected earnings announcement. The stock traded as low as $48.60 and last traded at $47.20. 788,275 shares traded hands during trading, an increase of 75% from the average session volume of 451,338 shares. The stock had previously closed at $49.28.

The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.15). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. LifePoint Health had a net margin of 2.45% and a return on equity of 7.01%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS.

LifePoint Health announced that its Board of Directors has authorized a share repurchase plan on Friday, October 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

A number of brokerages have recently weighed in on LPNT. Mizuho set a $50.00 target price on shares of LifePoint Health and gave the company a “hold” rating in a research note on Friday. BidaskClub lowered shares of LifePoint Health from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 price objective on shares of LifePoint Health in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of LifePoint Health from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, July 4th. Finally, TheStreet lowered shares of LifePoint Health from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $62.62.

A number of institutional investors have recently modified their holdings of LPNT. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in LifePoint Health by 10.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,678 shares of the company’s stock worth $113,000 after buying an additional 164 shares during the last quarter. LS Investment Advisors LLC raised its holdings in LifePoint Health by 43.7% in the second quarter. LS Investment Advisors LLC now owns 1,785 shares of the company’s stock worth $120,000 after buying an additional 543 shares during the last quarter. US Bancorp DE raised 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 buying an additional 16 shares during the last quarter. Shelton Capital Management purchased a new position in LifePoint Health in the second quarter worth about $205,000. Finally, Teacher Retirement System of Texas raised 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 buying an additional 9 shares during the last quarter. 99.53% of the stock is owned by institutional investors and hedge funds.

The stock has a 50-day moving average of $56.48 and a 200 day moving average of $60.50. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 10.574 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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