Meiji Yasuda Asset Management Co Ltd. Acquires 1,870 Shares of Laboratory Corporation of America Holdings (NYSE:LH)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 19.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,333 shares of the medical research company’s stock after acquiring an additional 1,870 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Laboratory Corporation of America were worth $1,711,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its position in shares of Laboratory Corporation of America by 3.9% during the second quarter. LS Investment Advisors LLC now owns 4,659 shares of the medical research company’s stock worth $718,000 after purchasing an additional 175 shares in the last quarter. Aperio Group LLC boosted its position in shares of Laboratory Corporation of America by 23.3% during the second quarter. Aperio Group LLC now owns 51,991 shares of the medical research company’s stock worth $8,014,000 after purchasing an additional 9,813 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Laboratory Corporation of America by 10.6% during the second quarter. APG Asset Management N.V. now owns 423,427 shares of the medical research company’s stock worth $65,267,000 after purchasing an additional 40,642 shares in the last quarter. Financial Architects Inc lifted its position in Laboratory Corporation of America by 4.1% in the 2nd quarter. Financial Architects Inc now owns 1,613 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 64 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC lifted its position in Laboratory Corporation of America by 28.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 6,949 shares of the medical research company’s stock valued at $1,058,000 after acquiring an additional 1,550 shares in the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

LH has been the topic of several research reports. Barclays boosted their price objective on shares of Laboratory Corporation of America from $183.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. 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. Jefferies Group reaffirmed a “hold” rating and issued a $170.00 price objective (up from $157.00) on shares of Laboratory Corporation of America in a research report on Wednesday, September 13th. Morgan Stanley lifted their price target on shares of Laboratory Corporation of America from $154.00 to $166.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price target (up from $175.00) on shares of Laboratory Corporation of America in a research note on Monday, September 11th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Laboratory Corporation of America has an average rating of “Buy” and a consensus target price of $170.92.

Laboratory Corporation of America Holdings (NYSE:LH) traded down $0.25 during midday trading on Thursday, reaching $155.26. 371,166 shares of the company’s stock were exchanged, compared to its average volume of 721,130. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18. The company has a market cap of $15,801.40, a P/E ratio of 16.69, a P/E/G ratio of 1.65 and a beta of 0.87. Laboratory Corporation of America Holdings has a 52-week low of $125.50 and a 52-week high of $164.22.

Laboratory Corporation of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. research analysts forecast that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current fiscal year.

In other news, Director Dwight Gary Gilliland sold 971 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was first published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://www.thelincolnianonline.com/2017/12/07/meiji-yasuda-asset-management-co-ltd-acquires-1870-shares-of-laboratory-corporation-of-america-holdings-lh-updated-updated.html.

Laboratory Corporation of America Profile

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)

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