Vestor Capital LLC Acquires New Holdings in Laboratory Corp. of America Holdings (NYSE:LH)

Vestor Capital LLC acquired a new stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 233 shares of the medical research company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC raised its stake in shares of 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 last quarter. BlackRock Inc. raised its stake in shares of 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 last quarter. Fairview Capital Investment Management LLC purchased a new position in shares of Laboratory Corp. of America in the first quarter worth about $34,081,000. Iridian Asset Management LLC CT raised its stake in shares of 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 last quarter. Finally, First Trust Advisors LP raised its stake in shares of Laboratory Corp. of America by 67.6% in the first quarter. First Trust Advisors LP now owns 494,978 shares of the medical research company’s stock worth $75,722,000 after purchasing an additional 199,581 shares during the last quarter. 89.72% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. KeyCorp raised their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. UBS Group raised their price objective on Laboratory Corp. of America from $178.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $180.00 to $220.00 in a research note on Thursday, June 20th. Mizuho lifted their price target on Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, Canaccord Genuity lifted their price target on Laboratory Corp. of America from $155.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $185.91.



In other news, Director R Sanders Williams sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $162.91, for a total value of $81,455.00. Following the completion of the sale, the director now directly owns 6,886 shares in the company, valued at $1,121,798.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $167.40, for a total value of $1,674,000.00. Following the completion of the sale, the chief financial officer now owns 28,366 shares of the company’s stock, valued at $4,748,468.40. The disclosure for this sale can be found here. Insiders sold 21,491 shares of company stock valued at $3,677,189 over the last 90 days. Company insiders own 0.74% of the company’s stock.

LH stock traded down $0.78 during trading on Friday, hitting $167.16. 202,847 shares of the company traded hands, compared to its average volume of 783,090. The company has a market cap of $16.32 billion, a PE ratio of 15.17, a P/E/G ratio of 1.53 and a beta of 1.05. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $178.44. The stock’s 50-day simple moving average is $169.66 and its 200 day simple moving average is $160.65. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.98 earnings per share. Research analysts expect that Laboratory Corp. of America Holdings will post 11.28 earnings per share for the current 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.

Featured Article: Coverage Ratio

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).

Institutional Ownership by Quarter for Laboratory Corp. of America (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.