HealthCor Management L.P. lessened its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 30.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,100,000 shares of the medical research company’s stock after selling 472,290 shares during the period. Laboratory Corp. of America makes up 5.7% of HealthCor Management L.P.’s investment portfolio, making the stock its 5th largest position. HealthCor Management L.P. owned 1.08% of Laboratory Corp. of America worth $175,461,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Zions Bancorporation lifted its stake in shares of Laboratory Corp. of America by 7,444.4% in the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 670 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in shares of Laboratory Corp. of America in the 4th quarter valued at $182,000. Calton & Associates Inc. acquired a new position in Laboratory Corp. of America during the 4th quarter worth about $213,000. Weik Capital Management acquired a new position in Laboratory Corp. of America during the 4th quarter worth about $200,000. Finally, Hourglass Capital LLC acquired a new position in Laboratory Corp. of America during the 4th quarter worth about $207,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Credit Suisse Group reissued an “outperform” rating and set a $195.00 target price (up previously from $192.00) on shares of Laboratory Corp. of America in a research note on Thursday. Zacks Investment Research lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Jefferies Group restated a “hold” rating and set a $176.00 price target on shares of Laboratory Corp. of America in a report on Tuesday, March 6th. Morgan Stanley upped their price target on Laboratory Corp. of America from $182.00 to $192.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Finally, Canaccord Genuity upped their price target on Laboratory Corp. of America from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $188.33.
Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.07. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the business posted $2.15 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. sell-side analysts forecast that Laboratory Corp. of America Holdings will post 11.54 earnings per share for the current year.
In other news, CFO Glenn A. Eisenberg sold 8,400 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $167.36, for a total value of $1,405,824.00. Following the transaction, the chief financial officer now owns 15,931 shares in the company, valued at approximately $2,666,212.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Adam H. Schechter sold 1,263 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $169.29, for a total value of $213,813.27. Following the completion of the transaction, the director now owns 7,297 shares in the company, valued at approximately $1,235,309.13. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
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Laboratory Corp. of America Profile
Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).
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