Valeo Financial Advisors LLC boosted its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,570 shares of the medical research company’s stock after acquiring an additional 631 shares during the period. Valeo Financial Advisors LLC’s holdings in Laboratory Corp. of America were worth $569,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Zions Bancorporation boosted its holdings in Laboratory Corp. of America by 7,444.4% in the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after acquiring an additional 670 shares during the last quarter. Calton & Associates Inc. bought a new stake in Laboratory Corp. of America in the fourth quarter valued at approximately $213,000. Hourglass Capital LLC bought a new stake in Laboratory Corp. of America in the fourth quarter valued at approximately $207,000. Flagship Harbor Advisors LLC bought a new position in shares of Laboratory Corp. of America during the 4th quarter worth approximately $224,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Laboratory Corp. of America during the 3rd quarter worth approximately $210,000. Institutional investors and hedge funds own 90.41% of the company’s stock.
In related news, CFO Glenn A. Eisenberg sold 8,400 shares of the stock in a transaction on 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 directly owns 15,931 shares in the company, valued at approximately $2,666,212.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adam H. Schechter sold 1,263 shares of the stock in a transaction on Thursday, February 8th. The stock was 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 $1,235,309.13. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.
Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the business earned $2.15 EPS. Laboratory Corp. of America’s quarterly revenue was up 13.2% compared to the same quarter last year. analysts predict that Laboratory Corp. of America Holdings will post 11.52 earnings per share for the current year.
A number of research firms have issued reports on LH. ValuEngine cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Citigroup increased their price target on Laboratory Corp. of America from $161.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Goldman Sachs Group began coverage on Laboratory Corp. of America in a report on Monday, January 29th. They set a “buy” rating and a $205.00 price target on the stock. Robert W. Baird restated a “hold” rating and set a $150.00 price target on shares of Laboratory Corp. of America in a report on Friday, October 27th. Finally, Evercore ISI began coverage on Laboratory Corp. of America in a report on Thursday, January 4th. They set an “outperform” rating and a $176.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $180.73.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.com-unik.info/2018/02/20/valeo-financial-advisors-llc-has-569000-position-in-laboratory-corp-of-america-holdings-lh.html.
About Laboratory Corp. of America
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).
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.