Laboratory Corporation of America Holdings (LH) Shares Bought by Nationwide Fund Advisors

Nationwide Fund Advisors increased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,317 shares of the medical research company’s stock after purchasing an additional 3,936 shares during the period. Nationwide Fund Advisors owned 0.07% of Laboratory Corporation of America worth $10,012,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LH. Acrospire Investment Management LLC raised its position in shares of Laboratory Corporation of America by 16.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 100 shares during the last quarter. Sun Life Financial INC raised its position in shares of Laboratory Corporation of America by 9,200.0% during the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 736 shares during the last quarter. IFP Advisors Inc raised its position in shares of Laboratory Corporation of America by 83.9% during the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 523 shares during the last quarter. Hourglass Capital LLC bought a new stake in shares of Laboratory Corporation of America during the 2nd quarter valued at $200,000. Finally, Institute for Wealth Management LLC. bought a new stake in shares of Laboratory Corporation of America during the 2nd quarter valued at $220,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Several analysts have commented on LH shares. Zacks Investment Research cut shares of Laboratory Corporation of America from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Wells Fargo & Company started coverage on shares of Laboratory Corporation of America in a research report on Thursday, October 12th. They set an “outperform” rating and a $175.00 target price for the company. Jefferies Group reiterated a “hold” rating and set a $170.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America in a research report on Wednesday, September 13th. Craig Hallum reiterated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America in a research report on Thursday, October 26th. Finally, Robert W. Baird reiterated a “hold” rating and set a $150.00 target price on shares of Laboratory Corporation of America in a research report on Friday, October 27th. Six 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 stock currently has an average rating of “Buy” and an average target price of $170.92.

Shares of Laboratory Corporation of America Holdings (LH) traded down $2.69 during mid-day trading on Wednesday, hitting $155.22. 573,400 shares of the stock traded hands, compared to its average volume of 723,059. Laboratory Corporation of America Holdings has a one year low of $123.41 and a one year high of $164.22. The firm has a market cap of $16,075.24, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18.

Laboratory Corporation of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.08. Laboratory Corporation of America had a net margin of 7.40% and a return on equity of 16.75%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the business earned $2.25 EPS. The firm’s revenue was up 9.5% on a year-over-year basis. sell-side analysts predict that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current year.

In other news, Director Dwight Gary Gilliland sold 971 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the completion of the transaction, the director now 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 Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by insiders.

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About Laboratory Corporation 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).

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

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