Rhenman & Partners Asset Management AB Takes $1.39 Million Position in Laboratory Corp. of America Holdings (LH)

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Rhenman & Partners Asset Management AB bought a new position in Laboratory Corp. of America Holdings (NYSE:LH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,000 shares of the medical research company’s stock, valued at approximately $1,390,000.

Several other institutional investors and hedge funds have also bought and sold shares of LH. BRYN MAWR TRUST Co grew its position in Laboratory Corp. of America by 2.7% during the 3rd quarter. BRYN MAWR TRUST Co now owns 33,029 shares of the medical research company’s stock valued at $5,737,000 after purchasing an additional 855 shares during the last quarter. Bank OZK lifted its stake in shares of Laboratory Corp. of America by 31.3% in the 3rd quarter. Bank OZK now owns 2,624 shares of the medical research company’s stock worth $456,000 after purchasing an additional 625 shares during the period. Lee Financial Group Hawaii Inc. lifted its stake in shares of Laboratory Corp. of America by 3.5% in the 3rd quarter. Lee Financial Group Hawaii Inc. now owns 16,653 shares of the medical research company’s stock worth $2,892,000 after purchasing an additional 565 shares during the period. Vanguard Group Inc lifted its stake in shares of Laboratory Corp. of America by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 10,823,667 shares of the medical research company’s stock worth $1,879,854,000 after purchasing an additional 85,785 shares during the period. Finally, Polaris Greystone Financial Group LLC bought a new position in shares of Laboratory Corp. of America in the 3rd quarter worth approximately $3,967,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

In related news, Director R Sanders Williams sold 350 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the sale, the director now directly owns 7,886 shares in the company, valued at $1,278,636.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.73% of the stock is owned by company insiders.

A number of equities research analysts have commented on LH shares. Morgan Stanley decreased their target price on shares of Laboratory Corp. of America from $202.00 to $180.00 in a research note on Sunday, December 9th. Robert W. Baird cut their price objective on shares of Laboratory Corp. of America from $205.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. SunTrust Banks cut their price objective on shares of Laboratory Corp. of America to $175.00 and set a “buy” rating for the company in a report on Monday, December 3rd. Canaccord Genuity lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and cut their price objective for the company from $190.00 to $162.00 in a report on Thursday, October 25th. Finally, UBS Group began coverage on shares of Laboratory Corp. of America in a report on Thursday, January 17th. They set a “buy” rating and a $169.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Laboratory Corp. of America currently has an average rating of “Hold” and a consensus target price of $178.27.

Shares of LH opened at $144.83 on Monday. The firm has a market capitalization of $14.61 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.64 and a beta of 1.13. 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 quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.87.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, February 7th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. Laboratory Corp. of America’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company earned $2.45 earnings per share. On average, sell-side analysts anticipate that Laboratory Corp. of America Holdings will post 11.21 earnings per share for the current fiscal 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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