15,000 Shares in Laboratory Corp. of America Holdings (LH) Acquired by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC acquired a new stake in Laboratory Corp. of America Holdings (NYSE:LH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the medical research company’s stock, valued at approximately $2,605,000.

Several other hedge funds have also recently bought and sold shares of LH. Legacy Financial Advisors Inc. grew its stake in Laboratory Corp. of America by 763.9% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock worth $108,000 after purchasing an additional 550 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Laboratory Corp. of America by 7,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock worth $115,000 after purchasing an additional 633 shares in the last quarter. Fort L.P. acquired a new position in Laboratory Corp. of America during the 2nd quarter worth $118,000. Rational Advisors LLC grew its stake in Laboratory Corp. of America by 4,966.7% during the 3rd quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock worth $132,000 after purchasing an additional 745 shares in the last quarter. Finally, NuWave Investment Management LLC grew its stake in Laboratory Corp. of America by 5,786.7% during the 3rd quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock worth $154,000 after purchasing an additional 868 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

LH has been the subject of several analyst reports. Morgan Stanley boosted their target price on Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Monday, September 10th. Argus reaffirmed a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, August 22nd. Craig Hallum lowered their price objective on Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating for the company in a research report on Wednesday, October 3rd. Bank of America began coverage on Laboratory Corp. of America in a research report on Friday, October 19th. They set a “buy” rating for the company. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $192.19.

Shares of NYSE:LH traded up $0.72 on Monday, hitting $162.42. 1,017 shares of the company’s stock were exchanged, compared to its average volume of 679,214. The stock has a market cap of $16.32 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.52 and a beta of 1.00. Laboratory Corp. of America Holdings has a 1-year low of $149.39 and a 1-year high of $190.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.44 and a current ratio of 1.55.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 earnings per share. On average, equities research analysts predict that Laboratory Corp. of America Holdings will post 11.33 EPS for the current year.

In related news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the sale, the director now directly owns 21,795 shares of the company’s stock, valued at approximately $3,558,905.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

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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: Technical Analysis of Stocks, How Can It Help

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

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