Squarepoint Ops LLC Buys 28,311 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Share on StockTwits

Squarepoint Ops LLC grew its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 728.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,198 shares of the medical research company’s stock after buying an additional 28,311 shares during the quarter. Squarepoint Ops LLC’s holdings in Laboratory Corp. of America were worth $5,409,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LH. Wealthfront Advisers LLC lifted its stake in Laboratory Corp. of America by 3.1% in the third quarter. Wealthfront Advisers LLC now owns 2,054 shares of the medical research company’s stock worth $345,000 after purchasing an additional 62 shares during the last quarter. DNB Asset Management AS lifted its stake in shares of Laboratory Corp. of America by 0.6% in the 3rd quarter. DNB Asset Management AS now owns 10,579 shares of the medical research company’s stock valued at $1,777,000 after acquiring an additional 64 shares during the last quarter. Squar Milner Financial Services LLC lifted its stake in shares of Laboratory Corp. of America by 6.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock valued at $188,000 after acquiring an additional 66 shares during the last quarter. Hartford Investment Management Co. boosted its holdings in Laboratory Corp. of America by 0.3% during the 2nd quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock valued at $3,567,000 after acquiring an additional 67 shares during the period. Finally, Private Ocean LLC boosted its holdings in Laboratory Corp. of America by 54.3% during the 2nd quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 90.88% of the company’s stock.

LH has been the topic of a number of analyst reports. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price target on the stock in a research note on Wednesday, October 9th. UBS Group dropped 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 note on Monday, October 21st. ValuEngine cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Tuesday. Canaccord Genuity reiterated a “hold” rating and set a $170.00 price target on shares of Laboratory Corp. of America in a report on Thursday, October 24th. Finally, KeyCorp increased their target price 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $185.66.

NYSE:LH opened at $170.29 on Wednesday. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.61 and a beta of 1.03. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $178.44. The stock’s 50 day simple moving average is $168.62 and its two-hundred day simple moving average is $168.60. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.17 and a quick ratio of 1.08.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.05. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the prior year, the company earned $2.74 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, analysts anticipate that Laboratory Corp. of America Holdings will post 11.26 EPS for the current year.

In other news, Director Kerrii B. Anderson sold 2,600 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. King sold 30,177 shares of the firm’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. Insiders own 0.74% of the company’s stock.

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.

Featured Story: Why is the conference call important?

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.