Acadian Asset Management LLC Purchases 140,623 Shares of Laboratory Corp. of America Holdings (LH)

Acadian Asset Management LLC raised its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 56.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 391,667 shares of the medical research company’s stock after buying an additional 140,623 shares during the quarter. Acadian Asset Management LLC owned about 0.38% of Laboratory Corp. of America worth $68,023,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC raised its position in shares of Laboratory Corp. of America by 30.1% in the 1st quarter. LPL Financial LLC now owns 5,311 shares of the medical research company’s stock worth $859,000 after purchasing an additional 1,230 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Laboratory Corp. of America by 6.7% in the 1st quarter. Principal Financial Group Inc. now owns 312,531 shares of the medical research company’s stock worth $50,552,000 after purchasing an additional 19,572 shares during the last quarter. Allianz Asset Management GmbH raised its position in shares of Laboratory Corp. of America by 0.8% in the 1st quarter. Allianz Asset Management GmbH now owns 313,729 shares of the medical research company’s stock worth $50,745,000 after purchasing an additional 2,403 shares during the last quarter. DnB Asset Management AS raised its position in shares of Laboratory Corp. of America by 6.5% in the 2nd quarter. DnB Asset Management AS now owns 13,174 shares of the medical research company’s stock worth $2,365,000 after purchasing an additional 800 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Laboratory Corp. of America by 74.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,203 shares of the medical research company’s stock worth $575,000 after purchasing an additional 1,363 shares during the last quarter. 92.27% of the stock is owned by institutional investors and hedge funds.

LH has been the subject of several recent analyst reports. Deutsche Bank lowered their price target on Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating for the company in a research report on Monday, August 20th. Robert W. Baird decreased their target price on Laboratory Corp. of America from $205.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Mizuho reissued a “neutral” rating on shares of Laboratory Corp. of America in a research report on Wednesday, September 19th. Canaccord Genuity lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating and decreased their target price for the stock from $190.00 to $162.00 in a research report on Thursday, October 25th. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $192.19.



Shares of NYSE:LH opened at $160.55 on Thursday. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97. Laboratory Corp. of America Holdings has a fifty-two week low of $147.70 and a fifty-two week high of $190.35. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.14). The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.84 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Sell-side analysts forecast that Laboratory Corp. of America Holdings will post 11.33 earnings per share for the current year.

Laboratory Corp. of America Company 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.

Further Reading: What does RSI mean?

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

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