Stanley Laman Group Ltd. Acquires 1,570 Shares of Laboratory Corp. of America Holdings (LH)

Stanley Laman Group Ltd. grew its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,922 shares of the medical research company’s stock after acquiring an additional 1,570 shares during the period. Laboratory Corp. of America comprises 1.1% of Stanley Laman Group Ltd.’s holdings, making the stock its 23rd biggest position. Stanley Laman Group Ltd.’s holdings in Laboratory Corp. of America were worth $5,251,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Norinchukin Bank The boosted its holdings in shares of Laboratory Corp. of America by 7.4% in the 4th quarter. Norinchukin Bank The now owns 8,138 shares of the medical research company’s stock valued at $1,298,000 after acquiring an additional 560 shares during the last quarter. FDx Advisors Inc. boosted its holdings in shares of Laboratory Corp. of America by 7.7% in the 4th quarter. FDx Advisors Inc. now owns 23,713 shares of the medical research company’s stock valued at $3,782,000 after acquiring an additional 1,686 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of Laboratory Corp. of America by 27.5% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 42,013 shares of the medical research company’s stock valued at $6,701,000 after acquiring an additional 9,051 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Laboratory Corp. of America by 8.1% in the 4th quarter. American International Group Inc. now owns 44,125 shares of the medical research company’s stock valued at $7,038,000 after acquiring an additional 3,318 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Laboratory Corp. of America by 196.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 96,400 shares of the medical research company’s stock valued at $15,377,000 after acquiring an additional 63,900 shares during the last quarter. 90.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of Laboratory Corp. of America Holdings (NYSE:LH) opened at $177.79 on Monday. Laboratory Corp. of America Holdings has a twelve month low of $134.19 and a twelve month high of $181.71. The stock has a market cap of $18,099.02, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.50 and a beta of 0.93. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.93.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.07. The firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.70 billion. Laboratory Corp. of America had a net margin of 12.15% and a return on equity of 16.30%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.15 earnings per share. analysts anticipate that Laboratory Corp. of America Holdings will post 11.52 EPS for the current fiscal year.

Several research firms have recently commented on LH. Goldman Sachs Group began coverage on shares of Laboratory Corp. of America in a report on Monday, January 29th. They issued a “buy” rating and a $205.00 price objective on the stock. Mizuho set a $178.00 price objective on shares of Laboratory Corp. of America and gave the company a “hold” rating in a report on Wednesday, January 24th. ValuEngine raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Robert W. Baird set a $183.00 price target on shares of Laboratory Corp. of America and gave the stock a “hold” rating in a report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Laboratory Corp. of America presently has a consensus rating of “Buy” and an average target price of $180.73.

In other Laboratory Corp. of America news, CFO Glenn A. Eisenberg sold 8,400 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $167.36, for a total transaction of $1,405,824.00. Following the completion of the transaction, the chief financial officer now directly owns 15,931 shares in the company, valued at $2,666,212.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Adam H. Schechter sold 1,263 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $169.29, for a total transaction of $213,813.27. Following the transaction, the director now owns 7,297 shares of the company’s stock, valued at $1,235,309.13. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://ledgergazette.com/2018/02/19/stanley-laman-group-ltd-acquires-1570-shares-of-laboratory-corp-of-america-holdings-lh.html.

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).

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corp. of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply