Zacks: Brokerages Anticipate LifePoint Health, Inc. (LPNT) Will Announce Quarterly Sales of $1.60 Billion
Wall Street brokerages expect that LifePoint Health, Inc. (NASDAQ:LPNT) will announce $1.60 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for LifePoint Health’s earnings, with the highest sales estimate coming in at $1.61 billion and the lowest estimate coming in at $1.58 billion. LifePoint Health posted sales of $1.59 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The firm is scheduled to announce its next earnings report on Friday, October 27th.
On average, analysts expect that LifePoint Health will report full year sales of $1.60 billion for the current financial year, with estimates ranging from $6.44 billion to $6.49 billion. For the next fiscal year, analysts expect that the firm will report sales of $6.61 billion per share, with estimates ranging from $6.48 billion to $6.72 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for LifePoint Health.
LifePoint Health (NASDAQ:LPNT) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.06. LifePoint Health had a net margin of 2.61% and a return on equity of 7.40%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis.
LPNT has been the subject of several recent analyst reports. BidaskClub upgraded shares of LifePoint Health from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research upgraded shares of LifePoint Health from a “sell” rating to a “hold” rating in a report on Monday, August 21st. TheStreet cut shares of LifePoint Health from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. Morgan Stanley initiated coverage on shares of LifePoint Health in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $65.00 target price for the company. Finally, Barclays PLC raised their target price on shares of LifePoint Health from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $66.18.
In related news, Chairman William F. Carpenter III sold 82,347 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $64.15, for a total transaction of $5,282,560.05. Following the completion of the sale, the chairman now directly owns 504,535 shares in the company, valued at $32,365,920.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman William F. Carpenter III sold 17,653 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $65.06, for a total transaction of $1,148,504.18. Following the sale, the chairman now owns 439,841 shares of the company’s stock, valued at $28,616,055.46. The disclosure for this sale can be found here. Company insiders own 7.28% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 buying an additional 164 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of LifePoint Health by 43.7% in the second quarter. LS Investment Advisors LLC now owns 1,785 shares of the company’s stock valued at $120,000 after buying an additional 543 shares during the last quarter. US Bancorp DE raised its position in shares of LifePoint Health by 1.6% in the first quarter. US Bancorp DE now owns 1,931 shares of the company’s stock valued at $127,000 after buying an additional 30 shares during the last quarter. Bank of Montreal Can raised its position in shares of LifePoint Health by 18.7% in the first quarter. Bank of Montreal Can now owns 1,946 shares of the company’s stock valued at $128,000 after buying an additional 306 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in shares of LifePoint Health during the second quarter valued at $205,000. 99.59% of the stock is currently owned by hedge funds and other institutional investors.
LifePoint Health (NASDAQ:LPNT) opened at 56.85 on Monday. The company’s 50 day moving average is $60.77 and its 200 day moving average is $62.61. LifePoint Health has a 52-week low of $50.60 and a 52-week high of $70.95. The firm has a market cap of $2.28 billion, a P/E ratio of 12.73 and a beta of 0.86.
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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