Integrated Investment Consultants LLC Takes Position in Laboratory Corp. of America Holdings (NYSE:LH)

Integrated Investment Consultants LLC bought a new stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,159 shares of the medical research company’s stock, valued at approximately $200,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Laboratory Corp. of America in the 4th quarter worth about $120,695,000. FMR LLC increased its stake in shares of Laboratory Corp. of America by 81.4% in the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock valued at $244,257,000 after buying an additional 716,703 shares during the period. BlackRock Inc. increased its stake in shares of Laboratory Corp. of America by 2.6% in the first quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock valued at $1,534,283,000 after buying an additional 257,173 shares during the period. Fairview Capital Investment Management LLC acquired a new stake in shares of Laboratory Corp. of America in the first quarter valued at about $34,081,000. Finally, Iridian Asset Management LLC CT increased its stake in shares of Laboratory Corp. of America by 30.0% in the first quarter. Iridian Asset Management LLC CT now owns 937,092 shares of the medical research company’s stock valued at $143,356,000 after buying an additional 216,449 shares during the period. Institutional investors and hedge funds own 91.48% of the company’s stock.

NYSE:LH traded down $7.27 on Thursday, hitting $170.83. The stock had a trading volume of 63,128 shares, compared to its average volume of 560,802. The company’s fifty day moving average price is $171.62. The company has a market cap of $17.54 billion, a P/E ratio of 15.47, a PEG ratio of 1.61 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. Laboratory Corp. of America Holdings has a 52 week low of $119.38 and a 52 week high of $184.48.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company earned $2.98 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, analysts anticipate that Laboratory Corp. of America Holdings will post 11.28 EPS for the current year.

In related news, CFO Glenn A. Eisenberg sold 10,000 shares of Laboratory Corp. of America stock in a transaction on Friday, June 7th. The stock was sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the sale, the chief financial officer now directly owns 28,366 shares in the company, valued at $4,748,468.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,563 shares of Laboratory Corp. of America stock in a transaction on Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $983,260.25. Following the sale, the chief financial officer now owns 17,059 shares in the company, valued at $3,015,178.25. The disclosure for this sale can be found here. Insiders sold 29,191 shares of company stock worth $4,948,144 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity reissued a “buy” rating and issued a $10.00 price target on shares of Chembio Diagnostics in a research note on Thursday, May 2nd. Mizuho set a $31.00 target price on Evolus and gave the stock a “buy” rating in a research note on Monday, May 20th. Barclays set a $330.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Monday, July 15th. Wolfe Research assumed coverage on Iqvia in a research note on Tuesday, April 2nd. They set a “market perform” rating for the company. Finally, Jefferies Financial Group reaffirmed a “sell” rating on shares of Hi-Crush Partners in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Laboratory Corp. of America has a consensus rating of “Buy” and an average target price of $182.60.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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