Kinneret Advisory LLC Buys New Stake in Laboratory Corp. of America Holdings (LH)

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Kinneret Advisory LLC bought a new position in Laboratory Corp. of America Holdings (NYSE:LH) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,213 shares of the medical research company’s stock, valued at approximately $153,000.

A number of other large investors have also recently added to or reduced their stakes in LH. BlackRock Inc. lifted its position in Laboratory Corp. of America by 6.9% in the 4th quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock worth $1,234,806,000 after buying an additional 633,105 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in Laboratory Corp. of America by 16,859.4% in the third quarter. Rehmann Capital Advisory Group now owns 544,566 shares of the medical research company’s stock valued at $1,062,784,000 after purchasing an additional 541,355 shares during the last quarter. Brandes Investment Partners LP lifted its position in Laboratory Corp. of America by 559.8% in the fourth quarter. Brandes Investment Partners LP now owns 345,870 shares of the medical research company’s stock valued at $43,703,000 after purchasing an additional 293,453 shares during the last quarter. Morgan Stanley lifted its position in Laboratory Corp. of America by 30.9% in the third quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock valued at $174,843,000 after purchasing an additional 237,918 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in Laboratory Corp. of America by 666.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 253,000 shares of the medical research company’s stock valued at $31,969,000 after purchasing an additional 220,000 shares during the last quarter. Institutional investors own 88.80% of the company’s stock.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. ValuEngine upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Monday. Barclays lowered their price objective on Laboratory Corp. of America from $205.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, December 3rd. Credit Suisse Group boosted their price objective on Laboratory Corp. of America from $160.00 to $164.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $155.00 price objective (down previously from $162.00) on shares of Laboratory Corp. of America in a research report on Sunday, December 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $176.07.

In other news, Director R Sanders Williams sold 1,038 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total transaction of $152,586.00. Following the transaction, the director now directly owns 8,924 shares of the company’s stock, valued at $1,311,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.73% of the stock is currently owned by insiders.

LH opened at $152.82 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.38 and a current ratio of 1.51. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $190.35. The company has a market cap of $15.07 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, February 7th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.48 by $0.04. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Laboratory Corp. of America Holdings will post 11.22 EPS for the current year.

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Laboratory Corp. of America Company 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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