November 25, 2016 - By Winifred Garcia · 0 Comments
Laboratory Corp Of America Holdings (NYSE:LH) institutional sentiment decreased to 1.01 in 2016 Q2. Its down -0.43, from 1.44 in 2016Q1. The ratio dropped, as 322 hedge funds started new and increased stock positions, while 224 sold and decreased their stock positions in Laboratory Corp Of America Holdings. The hedge funds in our partner’s database now own: 92.00 million shares, down from 95.92 million shares in 2016Q1. Also, the number of hedge funds holding Laboratory Corp Of America Holdings in their top 10 stock positions increased from 14 to 20 for an increase of 6. Sold All: 32 Reduced: 192 Increased: 233 New Position: 89.
Laboratory Corporation of America Holdings is a healthcare diagnostics company. The company has a market cap of $13.27 billion. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. It has a 20.11 P/E ratio. The Firm operates through two divisions: LabCorp Diagnostics and Covance Drug Development (CDD).
The stock increased 1.19% or $1.5 during the last trading session, hitting $127.51. About 281,991 shares traded hands. Laboratory Corp. of America Holdings (NYSE:LH) has risen 3.48% since April 22, 2016 and is uptrending. It has underperformed by 1.93% the S&P500.
Analysts await Laboratory Corp. of America Holdings (NYSE:LH) to report earnings on February, 16. They expect $2.19 EPS, up 10.61% or $0.21 from last year’s $1.98 per share. LH’s profit will be $227.91M for 14.56 P/E if the $2.19 EPS becomes a reality. After $2.25 actual EPS reported by Laboratory Corp. of America Holdings for the previous quarter, Wall Street now forecasts -2.67% negative EPS growth.
According to Zacks Investment Research, “Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company’s in the United States. Through a national network of laboratories, the company offers different clinical laboratory tests which are used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.”
Healthcor Management L.P. holds 7.82% of its portfolio in Laboratory Corp. of America Holdings for 1.10 million shares. Chieftain Capital Management Inc. owns 1.10 million shares or 7.55% of their US portfolio. Moreover, Seatown Holdings Pte. Ltd. has 6.73% invested in the company for 167,339 shares. The New York-based Grisanti Capital Management Llc has invested 6.37% in the stock. Bridger Management Llc, a New York-based fund reported 613,884 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 4 insider sales for $26.56 million net activity.
Ratings analysis reveals 40% of Laboratory Corp’s analysts are positive. Out of 10 Wall Street analysts rating Laboratory Corp, 4 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $117 while the high is $156. The stock’s average target of $139.20 is 9.17% above today’s ($127.51) share price. LH was included in 17 notes of analysts from July 29, 2015. UBS maintained Laboratory Corp. of America Holdings (NYSE:LH) on Tuesday, April 26 with “Neutral” rating. The stock of Laboratory Corp. of America Holdings (NYSE:LH) earned “Sector Perform” rating by RBC Capital Markets on Friday, February 19. Jefferies maintained it with “Hold” rating and $131 target price in Tuesday, April 26 report. The firm earned “Overweight” rating on Tuesday, August 16 by KeyBanc Capital Markets. The firm has “Neutral” rating by Citigroup given on Friday, September 9. The company was maintained on Thursday, September 15 by Mizuho. The stock has “Neutral” rating given by Goldman Sachs on Tuesday, December 8. The stock has “Neutral” rating given by Mizuho on Wednesday, July 29. On Tuesday, April 26 the stock rating was maintained by Canaccord Genuity with “Buy”. Zacks downgraded the shares of LH in a report on Monday, August 17 to “Buy” rating.
Laboratory Corporation of America Holdings, incorporated on March 8, 1994, is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Firm operates through two divisions: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).
Another recent and important Laboratory Corp. of America Holdings (NYSE:LH) news was published by Businesswire.com which published an article titled: “Computerworld Names Covance’s Dimitris Agrafiotis a Premier 100 Technology Leader” on November 21, 2016.
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By Winifred Garcia