Laboratory Corp. of America Holdings (LH) Stake Lessened by Oregon Public Employees Retirement Fund

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Oregon Public Employees Retirement Fund lowered its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,090 shares of the medical research company’s stock after selling 137 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Laboratory Corp. of America were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in LH. JFS Wealth Advisors LLC bought a new stake in Laboratory Corp. of America in the fourth quarter worth $26,000. Evolution Wealth Advisors LLC bought a new stake in Laboratory Corp. of America in the fourth quarter worth $29,000. Quantamental Technologies LLC bought a new stake in Laboratory Corp. of America in the fourth quarter worth $39,000. Pendal Group Ltd bought a new stake in Laboratory Corp. of America in the fourth quarter worth $61,000. Finally, Enlightenment Research LLC bought a new stake in Laboratory Corp. of America in the fourth quarter worth $88,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Monday. UBS Group set a $178.00 price target on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Friday. TheStreet cut shares of Laboratory Corp. of America from a “b-” rating to a “c+” rating in a research report on Friday, January 11th. ValuEngine cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Finally, Bank of America cut shares of Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $178.27.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 350 shares of Laboratory Corp. of America stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total transaction of $56,749.00. Following the completion of the transaction, the director now directly owns 7,886 shares of the company’s stock, valued at $1,278,636.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by insiders.

NYSE LH traded up $0.89 on Tuesday, hitting $145.18. 67,629 shares of the stock were exchanged, compared to its average volume of 959,861. The company has a quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $14.56 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.64 and a beta of 1.13. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.48 by $0.04. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Laboratory Corp. of America had a net margin of 8.43% and a return on equity of 17.05%. Laboratory Corp. of America’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.45 earnings per share. Equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.21 EPS for the current year.

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Laboratory Corp. of America 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 is a back-end load?

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

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