Chartwell Investment Partners LLC increased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,603 shares of the medical research company’s stock after purchasing an additional 132 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Laboratory Corp. of America were worth $1,928,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in LH. JFS Wealth Advisors LLC purchased a new stake in Laboratory Corp. of America during the fourth quarter worth $26,000. Evolution Wealth Advisors LLC purchased a new stake in Laboratory Corp. of America during the fourth quarter worth $29,000. Bremer Trust National Association purchased a new stake in Laboratory Corp. of America during the fourth quarter worth $31,000. Quantamental Technologies LLC purchased a new stake in Laboratory Corp. of America during the fourth quarter worth $39,000. Finally, Old North State Trust LLC lifted its holdings in Laboratory Corp. of America by 464.2% during the fourth quarter. Old North State Trust LLC now owns 378 shares of the medical research company’s stock worth $47,000 after buying an additional 311 shares during the period. 91.50% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. ValuEngine lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Morgan Stanley set a $175.00 price objective on Laboratory Corp. of America and gave the company a “buy” rating in a report on Friday, February 22nd. TheStreet lowered Laboratory Corp. of America from a “b-” rating to a “c+” rating in a report on Friday, January 11th. Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, UBS Group set a $178.00 price objective on Laboratory Corp. of America and gave the company a “buy” rating in a report on Friday, February 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Laboratory Corp. of America has a consensus rating of “Hold” and a consensus target price of $175.50.
Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Thursday, February 7th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 17.05% and a net margin of 8.43%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $2.45 EPS. Analysts forecast that Laboratory Corp. of America Holdings will post 11.22 EPS for the current fiscal year.
In related news, Director R Sanders Williams sold 1,038 shares of the firm’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total value of $152,586.00. Following the completion of the transaction, the director now owns 8,924 shares in the company, valued at approximately $1,311,828. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.
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Laboratory Corp. of America Profile
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.
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