LifePoint Hospitals Inc. (LPNT) Raised to Buy at Zacks Investment Research
LifePoint Hospitals Inc. (NASDAQ:LPNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $62.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 11.91% from the stock’s previous close.
According to Zacks, “LifePoint Hospitals, Inc. is engaged in the operation of general, acute care hospitals in non-urban communities. The company’s general, acute care hospitals usually provide the range of medical and surgical services commonly available in hospitals in non-urban markets. These hospitals also provide diagnostic and emergency services, as well as outpatient and ancillary services including outpatient surgery, laboratory, radiology, respiratory therapy and physical therapy. “
Several other research analysts have also issued reports on LPNT. Raymond James Financial Inc. reduced their target price on shares of LifePoint Hospitals from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Avondale Partners lowered shares of LifePoint Hospitals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 9th. TheStreet lowered shares of LifePoint Hospitals from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Bank of America Corp. lowered shares of LifePoint Hospitals from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $66.00 to $59.00 in a research note on Wednesday, November 9th. Finally, Wolfe Research initiated coverage on shares of LifePoint Hospitals in a research note on Tuesday, October 25th. They set an “underperform” rating on the stock. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $69.69.
LifePoint Hospitals (NASDAQ:LPNT) opened at 55.40 on Wednesday. LifePoint Hospitals has a 1-year low of $50.60 and a 1-year high of $75.94. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 18.73 and a beta of 0.95. The firm has a 50-day moving average of $58.34 and a 200 day moving average of $61.19.
LifePoint Hospitals (NASDAQ:LPNT) last issued its earnings results on Friday, October 28th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.10. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. LifePoint Hospitals had a net margin of 1.93% and a return on equity of 7.02%. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. Analysts expect that LifePoint Hospitals will post $3.58 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of LPNT. Renaissance Technologies LLC increased its position in shares of LifePoint Hospitals by 116.1% in the first quarter. Renaissance Technologies LLC now owns 187,630 shares of the company’s stock worth $12,993,000 after buying an additional 100,800 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of LifePoint Hospitals by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 39,324 shares of the company’s stock worth $2,723,000 after buying an additional 771 shares during the last quarter. Babson Capital Management LLC increased its position in shares of LifePoint Hospitals by 48.1% in the first quarter. Babson Capital Management LLC now owns 23,400 shares of the company’s stock worth $1,620,000 after buying an additional 7,600 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of LifePoint Hospitals by 48.0% in the first quarter. Squarepoint Ops LLC now owns 17,932 shares of the company’s stock worth $1,242,000 after buying an additional 5,818 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of LifePoint Hospitals by 1,788.0% in the second quarter. BNP Paribas Arbitrage SA now owns 20,862 shares of the company’s stock worth $1,364,000 after buying an additional 19,757 shares during the last quarter. Institutional investors and hedge funds own 97.59% of the company’s stock.
About LifePoint Hospitals
LifePoint Health, Inc, formerly LifePoint Hospitals, Inc, through its subsidiaries, owns and operates community hospitals, regional health systems, physician practices, outpatient centers and post-acute facilities. The Company operates through healthcare services segment. The Company operates over 70 hospital campuses in over 20 states, having a total of over 8,240 licensed beds.
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