Laboratory Corp. of America Target of Unusually High Options Trading (NYSE:LH)

Laboratory Corp. of America Holdings (NYSE:LH) was the target of some unusual options trading activity on Thursday. Stock investors bought 2,916 call options on the stock. This is an increase of approximately 1,723% compared to the average daily volume of 160 call options.

LH opened at $173.24 on Friday. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $188.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. The business’s fifty day moving average price is $170.55. The firm has a market capitalization of $17.23 billion, a PE ratio of 15.72, a PEG ratio of 1.59 and a beta of 1.04.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 30th. The medical research company reported $2.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company posted $2.78 earnings per share. Laboratory Corp. of America’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Laboratory Corp. of America will post 11.28 EPS for the current fiscal year.



In related news, Director R Sanders Williams sold 500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $162.20, for a total value of $81,100.00. Following the completion of the transaction, the director now owns 7,386 shares of the company’s stock, valued at approximately $1,198,009.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the transaction, the chief financial officer now directly owns 28,366 shares of the company’s stock, valued at approximately $4,748,468.40. The disclosure for this sale can be found here. In the last three months, insiders sold 29,191 shares of company stock valued at $4,948,144. 0.74% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Laboratory Corp. of America in the fourth quarter worth $120,695,000. FMR LLC grew its holdings in Laboratory Corp. of America by 81.4% in the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock worth $244,257,000 after purchasing an additional 716,703 shares during the period. BlackRock Inc. grew its holdings in Laboratory Corp. of America by 2.6% in the first quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock worth $1,534,283,000 after purchasing an additional 257,173 shares during the period. Fairview Capital Investment Management LLC acquired a new stake in Laboratory Corp. of America in the first quarter worth $34,081,000. Finally, Iridian Asset Management LLC CT grew its holdings in Laboratory Corp. of America by 30.0% in the first quarter. Iridian Asset Management LLC CT now owns 937,092 shares of the medical research company’s stock worth $143,356,000 after purchasing an additional 216,449 shares during the period. Institutional investors own 91.49% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Monday, July 15th. ValuEngine downgraded shares of Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Deutsche Bank reaffirmed a “buy” rating and set a GBX 2,450 ($32.01) price target on shares of in a research note on Thursday, June 20th. Zacks Investment Research downgraded shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 price target on shares of Chembio Diagnostics in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and an average target price of $182.60.

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.

See Also: Risk Tolerance

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.