Golub Group LLC reduced its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 268,107 shares of the medical research company’s stock after selling 711 shares during the period. Laboratory Corp. of America makes up approximately 3.6% of Golub Group LLC’s portfolio, making the stock its 9th biggest position. Golub Group LLC owned about 0.28% of Laboratory Corp. of America worth $45,042,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Financial Advantage Inc. acquired a new position in Laboratory Corp. of America in the 3rd quarter valued at about $26,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Laboratory Corp. of America during the second quarter worth about $32,000. Legacy Advisors LLC acquired a new position in shares of Laboratory Corp. of America during the second quarter worth about $33,000. C M Bidwell & Associates Ltd. grew its position in shares of Laboratory Corp. of America by 1,636.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock worth $33,000 after buying an additional 180 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Laboratory Corp. of America during the second quarter worth about $33,000. Hedge funds and other institutional investors own 90.22% of the company’s stock.
LH stock traded up $2.61 during trading on Friday, hitting $168.41. 427,859 shares of the company’s stock were exchanged, compared to its average volume of 720,532. The business has a 50-day moving average price of $167.04 and a two-hundred day moving average price of $167.26. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.85 and a beta of 1.01. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $178.44. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93.
Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.74 earnings per share. On average, equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.26 earnings per share for the current fiscal year.
In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David P. King sold 30,177 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $165.40, for a total value of $4,991,275.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,145 shares of company stock valued at $6,855,988. 0.74% of the stock is owned by company insiders.
A number of brokerages have recently commented on LH. Barclays set a $200.00 price objective on Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. UBS Group lowered their price objective on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Canaccord Genuity reissued a “hold” rating and set a $170.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. KeyCorp boosted their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price objective for the company in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $184.90.
Laboratory Corp. of America Profile
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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