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Larry Robbins Increases LifePoint Stake to 6.7% Ahead of Earnings Announcement

February 26, 2013 | About:
Holly LaFon

Holly LaFon

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Larry Robbins added 32.64% to his holding of LifePoint Hospitals Inc. (LPNT) at the average price of $44.21 on Feb. 14, 2013, as reported by GuruFocus Real Time Picks. He now owns 3,186,280 shares, or 6.71% of the company. The stock price has changed by -3%. LifePoint Hospitals Inc., a Delaware corporation, acting through its subsidiaries, operates general acute care hospitals primarily in non-urban communities in the U.S.

Robbins began buying LifePoint Hospitals shares in the first quarter of 2011 when the price was $37.32 per share on average.

Robbins’ most recent reported purchase came the day before LifePoint announced its fourth quarter earnings results. It recorded a 14.3% year-over-year increase in revenue to $893.3 million, and net income of $37.5 million, slightly lower than $38.3 million in the prior-year quarter, and near the top of its guidance range.

The company’s CEO, William F. Carpenter III, also announced that the company is identifying new hospitals to purchase that will further its strategy of developing regional integrated health systems.

In the previous quarter, the company’s revenue increased 11% year over year, and net income declined to $19.3 million from $39.5 million. The weaker results were due to the company making acquisitions and investments Carpenter described as “critical to future growth,” and operational changes.

LifePoint issued guidance for 2013 with estimated net revenue of $3.65 to $3.75 billion and diluted EPS of $2.73 to $3.11.

LifePoint Hospitals Inc. has a market cap of $2.02 billion; its shares were traded at around $42.98 with a P/E ratio of 13.7 and P/S ratio of 0.4. LifePoint Hospitals Inc. had an annual average earnings growth of 17.2% over the past 10 years. GuruFocus rated LifePoint Hospitals Inc. the business predictability rank of 4-star.

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