Laboratory Corporation of America Holdings (LH) Stake Increased by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 0.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 376,987 shares of the medical research company’s stock after buying an additional 352 shares during the period. New York State Common Retirement Fund owned approximately 0.37% of Laboratory Corporation of America worth $56,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Laboratory Corporation of America by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,361,891 shares of the medical research company’s stock worth $1,597,181,000 after buying an additional 231,600 shares during the last quarter. Boston Partners increased its holdings in Laboratory Corporation of America by 0.6% in the 3rd quarter. Boston Partners now owns 4,619,670 shares of the medical research company’s stock valued at $697,432,000 after purchasing an additional 29,298 shares during the last quarter. Nordea Investment Management AB increased its holdings in Laboratory Corporation of America by 2.0% in the 2nd quarter. Nordea Investment Management AB now owns 2,696,851 shares of the medical research company’s stock valued at $415,693,000 after purchasing an additional 54,100 shares during the last quarter. FMR LLC increased its holdings in Laboratory Corporation of America by 9.4% in the 2nd quarter. FMR LLC now owns 1,780,950 shares of the medical research company’s stock valued at $274,516,000 after purchasing an additional 153,546 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Laboratory Corporation of America by 70.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after purchasing an additional 637,848 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (LH) traded up $1.42 during mid-day trading on Tuesday, reaching $157.91. 812,200 shares of the company’s stock traded hands, compared to its average volume of 723,702. The stock has a market cap of $15,930.68, a PE ratio of 16.83, a PEG ratio of 1.66 and a beta of 0.87. Laboratory Corporation of America Holdings has a 52 week low of $123.41 and a 52 week high of $164.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75.

Laboratory Corporation of America (NYSE:LH) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corporation of America had a net margin of 7.40% and a return on equity of 16.75%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.25 EPS. sell-side analysts predict that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current fiscal year.

LH has been the subject of several research reports. Zacks Investment Research downgraded shares of Laboratory Corporation of America from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Wells Fargo & Company initiated coverage on shares of Laboratory Corporation of America in a report on Thursday, October 12th. They issued an “outperform” rating and a $175.00 target price for the company. Jefferies Group reiterated a “hold” rating and issued a $170.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America in a report on Wednesday, September 13th. Craig Hallum reiterated a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America in a report on Thursday, October 26th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $150.00 target price on shares of Laboratory Corporation of America in a report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $170.92.

In other Laboratory Corporation of America news, Director Dwight Gary Gilliland sold 971 shares of Laboratory Corporation of America stock in a transaction on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the transaction, the director now directly owns 3,501 shares in the company, valued at $537,473.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David P. King sold 44,687 shares of Laboratory Corporation of America stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

TRADEMARK VIOLATION WARNING: This piece was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another domain, it was stolen and reposted in violation of US and international copyright and trademark law. The original version of this piece can be accessed at https://www.chaffeybreeze.com/2017/12/05/laboratory-corporation-of-america-holdings-lh-stake-increased-by-new-york-state-common-retirement-fund.html.

About Laboratory Corporation of America

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corporation of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corporation of America (NYSE:LH)

Receive News & Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply