Laboratory Corp. of America Holdings (LH) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC raised its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 192.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,949 shares of the medical research company’s stock after purchasing an additional 28,264 shares during the quarter. Laboratory Corp. of America makes up about 0.5% of Verition Fund Management LLC’s investment portfolio, making the stock its 28th largest position. Verition Fund Management LLC’s holdings in Laboratory Corp. of America were worth $6,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LH. Financial Gravity Companies Inc. bought a new position in Laboratory Corp. of America in the 4th quarter valued at $182,000. Synovus Financial Corp bought a new position in Laboratory Corp. of America in the 1st quarter valued at $199,000. Weik Capital Management bought a new position in Laboratory Corp. of America in the 4th quarter valued at $200,000. Campbell & CO Investment Adviser LLC bought a new position in Laboratory Corp. of America in the 1st quarter valued at $215,000. Finally, Element Capital Management LLC acquired a new stake in shares of Laboratory Corp. of America in the 1st quarter valued at $215,000. Hedge funds and other institutional investors own 92.30% of the company’s stock.

In other Laboratory Corp. of America news, insider Edward T. Dodson sold 13,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $183.35, for a total value of $2,383,550.00. Following the completion of the transaction, the insider now directly owns 22,113 shares of the company’s stock, valued at $4,054,418.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO M. Huff Gary sold 1,610 shares of the business’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $182.50, for a total value of $293,825.00. Following the completion of the transaction, the chief executive officer now directly owns 1,610 shares of the company’s stock, valued at $293,825. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,010 shares of company stock valued at $30,604,044. 0.73% of the stock is owned by insiders.

Shares of Laboratory Corp. of America opened at $187.47 on Thursday, MarketBeat.com reports. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.91. Laboratory Corp. of America Holdings has a 12 month low of $140.03 and a 12 month high of $190.35. The firm has a market cap of $19.25 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.66 and a beta of 0.93.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Wednesday, April 25th. The medical research company reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.15. Laboratory Corp. of America had a return on equity of 16.33% and a net margin of 11.52%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the firm earned $2.22 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.56 earnings per share for the current fiscal year.

Several research firms have recently commented on LH. ValuEngine raised Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Mizuho reissued a “hold” rating on shares of Laboratory Corp. of America in a research note on Friday, May 25th. KeyCorp raised Laboratory Corp. of America from a “sector weight” rating to an “overweight” rating and set a $210.00 target price for the company in a research note on Thursday, June 7th. Canaccord Genuity lifted their target price on Laboratory Corp. of America from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Argus began coverage on Laboratory Corp. of America in a research note on Friday, March 23rd. They issued a “buy” rating and a $202.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and a consensus target price of $192.18.

Laboratory Corp. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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