Calamos Advisors LLC Reduces Stock Holdings in Laboratory Corp. of America Holdings (NYSE:LH)

Calamos Advisors LLC decreased its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 521,520 shares of the medical research company’s stock after selling 11,923 shares during the quarter. Calamos Advisors LLC owned about 0.54% of Laboratory Corp. of America worth $88,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Financial Advantage Inc. purchased a new position in Laboratory Corp. of America during the 3rd quarter valued at about $26,000. Rational Advisors LLC increased its stake in shares of Laboratory Corp. of America by 106.2% during the third quarter. Rational Advisors LLC now owns 200 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 103 shares in the last quarter. Usca Ria LLC purchased a new position in shares of Laboratory Corp. of America during the third quarter valued at approximately $40,000. CSat Investment Advisory L.P. lifted its holdings in shares of Laboratory Corp. of America by 86.1% during the second quarter. CSat Investment Advisory L.P. now owns 255 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 118 shares during the last quarter. Finally, Bridger Capital Management LLC bought a new stake in shares of Laboratory Corp. of America in the 3rd quarter worth approximately $54,000. 90.38% of the stock is owned by institutional investors.

LH stock traded up $0.07 during midday trading on Wednesday, hitting $180.46. The company’s stock had a trading volume of 9,829 shares, compared to its average volume of 734,795. The company has a market cap of $17.38 billion, a PE ratio of 16.38, a P/E/G ratio of 1.75 and a beta of 1.02. Laboratory Corp. of America Holdings has a 12 month low of $130.66 and a 12 month high of $181.45. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average is $170.53 and its 200-day moving average is $169.35.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $2.90 EPS for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.05. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter last year, the company earned $2.74 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts expect that Laboratory Corp. of America Holdings will post 11.25 earnings per share for the current year.

In other news, CEO David P. King sold 30,177 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $165.40, for a total transaction of $4,991,275.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.

Several analysts recently weighed in on LH shares. Wells Fargo & Co began coverage on Laboratory Corp. of America in a research note on Tuesday, January 7th. They issued an “overweight” rating and a $210.00 price target on the stock. Bank of America cut Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a research note on Friday, January 3rd. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $186.00 target price on the stock in a report on Monday. Canaccord Genuity reissued a “hold” rating and issued a $170.00 target price on shares of Laboratory Corp. of America in a research note on Thursday, October 24th. Finally, UBS Group reduced their price target on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a report on Monday, October 21st. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $189.05.

About Laboratory Corp. of America

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

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