Man Group plc Boosts Holdings in Laboratory Corp. of America Holdings (LH)

Man Group plc raised its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 36.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,216 shares of the medical research company’s stock after acquiring an additional 45,063 shares during the period. Man Group plc owned approximately 0.17% of Laboratory Corp. of America worth $29,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors grew its position in Laboratory Corp. of America by 20.0% during the second quarter. Captrust Financial Advisors now owns 1,785 shares of the medical research company’s stock valued at $320,000 after acquiring an additional 297 shares during the period. Piedmont Investment Advisors Inc. lifted its stake in shares of Laboratory Corp. of America by 24.8% during the third quarter. Piedmont Investment Advisors Inc. now owns 1,493 shares of the medical research company’s stock worth $259,000 after purchasing an additional 297 shares in the last quarter. State Treasurer State of Michigan lifted its stake in shares of Laboratory Corp. of America by 1.0% during the second quarter. State Treasurer State of Michigan now owns 30,297 shares of the medical research company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Laboratory Corp. of America by 11.1% during the second quarter. Alps Advisors Inc. now owns 3,057 shares of the medical research company’s stock worth $549,000 after purchasing an additional 305 shares in the last quarter. Finally, Strs Ohio lifted its stake in shares of Laboratory Corp. of America by 1.3% during the third quarter. Strs Ohio now owns 24,261 shares of the medical research company’s stock worth $4,213,000 after purchasing an additional 311 shares in the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

NYSE:LH opened at $137.41 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.44 and a current ratio of 1.55. Laboratory Corp. of America Holdings has a one year low of $136.15 and a one year high of $190.35. The stock has a market capitalization of $13.86 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts predict that Laboratory Corp. of America Holdings will post 10.99 earnings per share for the current year.

In related news, Director R Sanders Williams sold 350 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the transaction, the director now owns 7,886 shares in the company, valued at $1,278,636.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 3,700 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the transaction, the director now owns 21,795 shares in the company, valued at approximately $3,558,905.55. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

A number of research analysts have commented on the company. Deutsche Bank reduced their price objective on Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating on the stock in a research note on Monday, August 20th. Argus restated a “buy” rating on shares of Laboratory Corp. of America in a research note on Wednesday, August 22nd. Craig Hallum reduced their price objective on Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating on the stock in a research note on Wednesday, October 3rd. Bank of America assumed coverage on Laboratory Corp. of America in a research note on Friday, October 19th. They set a “buy” rating on the stock. Finally, Mizuho restated a “neutral” rating on shares of Laboratory Corp. of America in a research note on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $179.06.

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Laboratory Corp. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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