Sheets Smith Wealth Management Boosts Stake in Laboratory Corp. of America Holdings (LH)

Sheets Smith Wealth Management increased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 87.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 18,305 shares of the medical research company’s stock after purchasing an additional 8,540 shares during the period. Sheets Smith Wealth Management’s holdings in Laboratory Corp. of America were worth $2,920,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of LH. Vanguard Group Inc. raised its stake in Laboratory Corp. of America by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,361,891 shares of the medical research company’s stock valued at $1,597,181,000 after acquiring an additional 231,600 shares during the last quarter. Boston Partners raised its stake in Laboratory Corp. of America by 0.6% during the 3rd quarter. Boston Partners now owns 4,619,670 shares of the medical research company’s stock valued at $697,432,000 after acquiring an additional 29,298 shares during the last quarter. Nordea Investment Management AB raised its stake in Laboratory Corp. of America by 2.0% during the 2nd quarter. Nordea Investment Management AB now owns 2,696,851 shares of the medical research company’s stock valued at $415,693,000 after acquiring an additional 54,100 shares during the last quarter. FMR LLC raised its stake in Laboratory Corp. of America by 9.4% during the 2nd quarter. FMR LLC now owns 1,780,950 shares of the medical research company’s stock valued at $274,516,000 after acquiring an additional 153,546 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Laboratory Corp. of America by 70.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after acquiring an additional 637,848 shares during the last quarter. 91.21% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on LH. ValuEngine downgraded Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Wednesday. Evercore ISI began coverage on Laboratory Corp. of America in a research note on Thursday, January 4th. They set an “outperform” rating and a $176.00 price objective for the company. Barclays reaffirmed a “buy” rating and set a $195.00 price objective on shares of Laboratory Corp. of America in a research note on Wednesday, December 13th. Finally, Mizuho set a $165.00 price objective on Laboratory Corp. of America and gave the company a “neutral” rating in a research note on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $171.69.

Shares of Laboratory Corp. of America Holdings (NYSE LH) traded up $1.36 during mid-day trading on Friday, hitting $171.64. The stock had a trading volume of 499,970 shares, compared to its average volume of 588,822. The stock has a market cap of $17,580.00, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87. Laboratory Corp. of America Holdings has a fifty-two week low of $128.00 and a fifty-two week high of $172.38. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corp. of America had a return on equity of 12.07% and a net margin of 6.91%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 EPS. analysts expect that Laboratory Corp. of America Holdings will post 9.53 earnings per share for the current year.

In other news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the transaction, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

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About Laboratory Corp. of America

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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

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