Barclays Maintains an 'Equalweight' on Lifepoint Holdings (LPNT); March Quarter Review - After the Call

Barclays maintains an 'Equalweight' on Lifepoint Holdings (NASDAQ: LPNT), PT increased from $43 to $46.

Barclays analyst says, "Barclays Capital Key Takeaways: 1) Revenue was higher than our estimate, as same-store revenue increased 5.8% with flat adjusted admission growth; 2) EBITDA margins were above our estimates, with lower-than-expected other operating expenses and SWB, partially offset by higher bad debt expense; 3) Bad debt expense was higher than expected and was a function of both a continued increase in uninsured patients (primarily outpatient ER cases which have little incremental costs) as well as higher bad debt at recent acquisitions; 4) Cash flow from operations was strong at 2.5x net income; and 5) LPNT confirmed its prior range of EPS guidance of $2.80-3.10 and continues to suggest it is comfortable with the high end of the range."
"We are increasing our 2011 EPS estimate to $3.10 (from $3.03) and increasing 2012 to $3.36 (from $3.25)."

For more ratings news on Lifepoint Holdings click here and for the rating history of Lifepoint Holdings click here.

Shares of Lifepoint Holdings closed at $41.61 yesterday.

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