LifePoint Health Inc (LPNT) Sees Significant Decrease in Short Interest

LifePoint Health Inc (NASDAQ:LPNT) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 2,324,213 shares, a decline of 55.2% from the July 13th total of 5,182,362 shares. Approximately 6.2% of the shares of the company are sold short. Based on an average daily volume of 2,121,503 shares, the days-to-cover ratio is presently 1.1 days.

LPNT has been the topic of several research analyst reports. Zacks Investment Research downgraded LifePoint Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Raymond James downgraded LifePoint Health from an “outperform” rating to a “market perform” rating in a research note on Monday, July 23rd. ValuEngine downgraded LifePoint Health from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 2nd. Credit Suisse Group boosted their price target on LifePoint Health from $58.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, July 24th. Finally, BidaskClub downgraded LifePoint Health from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $58.73.

LifePoint Health opened at $64.55 on Friday, MarketBeat reports. LifePoint Health has a fifty-two week low of $41.45 and a fifty-two week high of $65.35. The company has a current ratio of 1.85, a quick ratio of 1.63 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 1.33 and a beta of 0.71.

LifePoint Health (NASDAQ:LPNT) last issued its earnings results on Friday, July 27th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. LifePoint Health had a return on equity of 7.04% and a net margin of 0.65%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. research analysts forecast that LifePoint Health will post 4.63 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of LifePoint Health by 29.9% in the second quarter. BlackRock Inc. now owns 4,474,205 shares of the company’s stock worth $218,340,000 after buying an additional 1,030,415 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of LifePoint Health by 4.0% in the first quarter. American Century Companies Inc. now owns 4,387,747 shares of the company’s stock worth $206,224,000 after buying an additional 167,157 shares during the last quarter. LSV Asset Management boosted its stake in shares of LifePoint Health by 6.6% in the first quarter. LSV Asset Management now owns 2,246,057 shares of the company’s stock worth $105,564,000 after buying an additional 138,600 shares during the last quarter. Letko Brosseau & Associates Inc. boosted its stake in shares of LifePoint Health by 4.6% in the first quarter. Letko Brosseau & Associates Inc. now owns 1,494,899 shares of the company’s stock worth $70,260,000 after buying an additional 65,245 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of LifePoint Health by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,054,529 shares of the company’s stock worth $49,563,000 after buying an additional 69,166 shares during the last quarter.

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 in the United States. Its hospitals provide a range of medical and surgical services, such as general surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, rehabilitation, and pediatric, as well as specialized services, including open-heart surgery, skilled nursing, psychiatric care, and neuro-surgery.

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