Financial Architects Inc Raises Stake in Laboratory Corporation of America Holdings (NYSE:LH)

Financial Architects Inc increased its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,613 shares of the medical research company’s stock after buying an additional 64 shares during the period. Financial Architects Inc’s holdings in Laboratory Corporation of America Holdings were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LH. BlackRock Inc. increased its position in shares of Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after buying an additional 7,856,297 shares during the period. JPMorgan Chase & Co. increased its position in shares of Laboratory Corporation of America Holdings by 139.4% in the first quarter. JPMorgan Chase & Co. now owns 677,069 shares of the medical research company’s stock worth $97,139,000 after buying an additional 394,247 shares during the period. Teachers Advisors LLC increased its position in shares of Laboratory Corporation of America Holdings by 139.9% in the first quarter. Teachers Advisors LLC now owns 445,372 shares of the medical research company’s stock worth $63,898,000 after buying an additional 259,709 shares during the period. Vanguard Group Inc. increased its position in shares of Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after buying an additional 259,182 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Laboratory Corporation of America Holdings during the first quarter worth about $31,036,000. 91.89% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings (LH) traded down 0.12% during midday trading on Friday, reaching $156.21. 441,945 shares of the company’s stock traded hands. The firm has a market cap of $15.90 billion, a PE ratio of 21.88 and a beta of 0.94. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22. The firm’s 50-day moving average is $155.35 and its 200 day moving average is $144.27.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.36 EPS. Equities research analysts expect that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.thestockobserver.com/2017/08/12/laboratory-corporation-of-america-holdings-nyselh-position-increased-by-financial-architects-inc-updated-updated.html.

Several equities research analysts recently issued reports on LH shares. Barclays PLC boosted their price target on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. ValuEngine downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Finally, Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target for the company. in a report on Thursday, July 13th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $159.00.

In other news, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $951,657.28. Following the completion of the sale, the chief financial officer now owns 18,122 shares in the company, valued at $2,889,734.12. The disclosure for this sale can be found here. Insiders have sold a total of 14,581 shares of company stock worth $2,256,899 in the last three months. Insiders own 0.90% of the company’s stock.

About Laboratory Corporation of America Holdings

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 Holdings (NYSE:LH)

Receive News & Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply