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

Squarepoint Ops LLC boosted its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 728.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,198 shares of the medical research company’s stock after purchasing an additional 28,311 shares during the period. Squarepoint Ops LLC’s holdings in Laboratory Corp. of America were worth $5,409,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LH. Nuveen Asset Management LLC grew its position in shares of Laboratory Corp. of America by 10,436.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,022,410 shares of the medical research company’s stock valued at $176,775,000 after buying an additional 1,012,706 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Laboratory Corp. of America by 93.4% in the second quarter. Invesco Ltd. now owns 1,184,747 shares of the medical research company’s stock worth $204,844,000 after acquiring an additional 572,088 shares during the period. Balyasny Asset Management LLC boosted its holdings in Laboratory Corp. of America by 496.8% in the second quarter. Balyasny Asset Management LLC now owns 557,585 shares of the medical research company’s stock valued at $96,406,000 after acquiring an additional 464,161 shares during the last quarter. LSV Asset Management bought a new stake in Laboratory Corp. of America in the second quarter valued at approximately $39,089,000. Finally, Wedge Capital Management L L P NC acquired a new stake in Laboratory Corp. of America during the 2nd quarter valued at approximately $34,132,000. 90.88% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $170.00 price target on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. 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. ValuEngine downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp boosted their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley upped their target price on Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $185.66.

In other Laboratory Corp. of America news, CEO David P. King sold 30,177 shares of Laboratory Corp. of America stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $165.40, for a total transaction of $4,991,275.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.

LH stock opened at $170.29 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.08 and a current ratio of 1.17. The business has a 50-day simple moving average of $168.62 and a two-hundred day simple moving average of $168.60. The company has a market capitalization of $16.73 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $178.44.

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

About Laboratory Corp. of America

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

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