UPDATE: Feltl and Company Reduces IPC Hospitalist's PT

According to a recent research report, Feltl has decreased IPC The Hospitalist Company Inc.'s (NASDAQ: IPCM) PT from $37 to $36.

Feltl commented in the report, “: IPCM is the industry leader in the fastest growing specialty practice within healthcare services. However higher physician costs and soft patient volumes have clouded the near term visibility. Until the company can prove to the market it can at least meet expectations we believe the shares will likely be range bound. We believe the company will eventually get its cost structure back to historically levels, but we continue sitting on the sideline until we gain greater comfort that productivity will return to normalized levels. We are tweaking our 2012 revenue estimate lower to $523.0 million from $523.6 million and EPS is reduced to $2.00 from $2.04 on higher physician cost and lower G&A leverage.”

Feltl maintains its Hold rating on IPC, which is currently trading at $37.06.