Calamos Advisors LLC reduced its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 533,443 shares of the medical research company’s stock after selling 5,354 shares during the period. Calamos Advisors LLC owned 0.55% of Laboratory Corp. of America worth $89,618,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Laboratory Corp. of America during the second quarter worth about $32,000. Legacy Advisors LLC purchased a new stake in Laboratory Corp. of America in the second quarter valued at approximately $33,000. C M Bidwell & Associates Ltd. boosted its holdings in Laboratory Corp. of America by 1,636.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 180 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Laboratory Corp. of America in the 2nd quarter worth about $33,000. Finally, Private Ocean LLC grew its stake in shares of Laboratory Corp. of America by 54.3% during the 2nd quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 75 shares during the period. 90.37% of the stock is currently owned by institutional investors.
In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $171.85, for a total value of $446,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 500 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $162.91, for a total value of $81,455.00. Following the sale, the director now owns 6,886 shares in the company, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. Insiders sold a total of 11,468 shares of company stock valued at $1,946,168 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
Shares of LH stock traded up $1.16 during trading hours on Monday, reaching $168.62. 12,712 shares of the company’s stock were exchanged, compared to its average volume of 565,097. The company’s 50 day moving average is $168.96 and its two-hundred day moving average is $166.08. The company has a market cap of $16.66 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 1.91 and a beta of 1.03. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $178.44.
Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.98 EPS. As a group, analysts predict that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.
LH has been the topic of several research analyst reports. Barclays set a $200.00 price objective on Laboratory Corp. of America and gave the company a “buy” rating in a report on Monday, July 15th. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price target on the stock in a report on Wednesday, October 9th. Morgan Stanley upped their price objective on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America raised shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price objective for the company in a research report on Tuesday, July 16th. Finally, KeyCorp boosted their target price on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $184.91.
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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