NEW YORK (TheStreet) -- Shares of LifePoint Health (LPNT) closed down 7.55% to $59.18 on heavy trading volume after the company posted weaker-than-expected results for the 2016 second quarter and slashed its full-year forecast.
Before today's market open, the Brentwood, TN-based hospital operator reported adjusted earnings of 71 cents per share, missing analysts' estimates of 90 cents per share.
Revenue rose 25.3% to $1.59 billion from last year, but was below analysts' expectations of $1.61 billion.
LifePoint also reduced its 2016 outlook to earnings per share between $3.43 and $3.70 on revenue of $6.35 billion to $6.45 billion. Previously, the company guided earnings per share of $3.65 to $3.91 on revenue of $6.45 billion to $6.55 billion, the Fly noted.
Analysts are modeling earnings of $3.74 per share on revenue of $6.49 billion.
About 3.05 million of the company's shares were traded today vs. its average 30-day volume of 368,603 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and notable return on equity. The team believes its strengths outweigh the fact that the company has had sub par growth in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: LPNT