Pembroke Management LTD Sells 46,000 Shares of LifePoint Health, Inc. (LPNT)
Pembroke Management LTD trimmed its holdings in shares of LifePoint Health, Inc. (NASDAQ:LPNT) by 14.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 263,900 shares of the company’s stock after selling 46,000 shares during the period. Pembroke Management LTD owned about 0.67% of LifePoint Health worth $15,280,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of LPNT. LSV Asset Management boosted its stake in shares of LifePoint Health by 83.5% during the 2nd quarter. LSV Asset Management now owns 1,994,557 shares of the company’s stock worth $133,934,000 after buying an additional 907,469 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of LifePoint Health by 130.6% during the 2nd quarter. Victory Capital Management Inc. now owns 816,147 shares of the company’s stock worth $54,804,000 after buying an additional 462,211 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of LifePoint Health by 7.7% during the 3rd quarter. American Century Companies Inc. now owns 3,630,487 shares of the company’s stock worth $210,205,000 after buying an additional 260,944 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of LifePoint Health by 28.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 795,233 shares of the company’s stock valued at $46,044,000 after purchasing an additional 177,329 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of LifePoint Health in the 2nd quarter valued at about $7,693,000. Institutional investors own 99.18% of the company’s stock.
Shares of LifePoint Health, Inc. (LPNT) traded up $0.65 on Wednesday, hitting $43.85. 474,500 shares of the stock traded hands, compared to its average volume of 420,796. LifePoint Health, Inc. has a 12 month low of $42.50 and a 12 month high of $70.95. The company has a market capitalization of $1,730.00, a PE ratio of 11.02, a PEG ratio of 1.12 and a beta of 0.68. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.85 and a quick ratio of 1.65.
LifePoint Health (NASDAQ:LPNT) last posted its quarterly earnings results on Friday, October 27th. The company reported $0.80 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.15). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. LifePoint Health had a return on equity of 7.01% and a net margin of 2.45%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.94 EPS. sell-side analysts forecast that LifePoint Health, Inc. will post 3.65 EPS for the current year.
LifePoint Health announced that its board has initiated a stock buyback program on Friday, October 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of brokerages have recently issued reports on LPNT. Zacks Investment Research cut shares of LifePoint Health from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. William Blair began coverage on shares of LifePoint Health in a report on Tuesday. They issued an “outperform” rating on the stock. ValuEngine raised shares of LifePoint Health from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Robert W. Baird set a $69.00 target price on shares of LifePoint Health and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of LifePoint Health in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. LifePoint Health currently has a consensus rating of “Hold” and an average price target of $60.23.
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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