Levin Capital Strategies L.P. Invests $239,000 in Laboratory Corp. of America Holdings (LH) Stock

Levin Capital Strategies L.P. purchased a new stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,500 shares of the medical research company’s stock, valued at approximately $239,000.

A number of other large investors have also bought and sold shares of the business. Zions Bancorporation increased its holdings in shares of Laboratory Corp. of America by 7,444.4% in the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock worth $103,000 after purchasing an additional 670 shares during the last quarter. Calton & Associates Inc. bought a new stake in shares of Laboratory Corp. of America in the fourth quarter worth about $213,000. Hourglass Capital LLC bought a new stake in shares of Laboratory Corp. of America in the fourth quarter worth about $207,000. Flagship Harbor Advisors LLC bought a new stake in shares of Laboratory Corp. of America in the fourth quarter worth about $224,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Laboratory Corp. of America in the third quarter worth about $210,000. 91.70% of the stock is currently owned by institutional investors and hedge funds.

In other Laboratory Corp. of America news, Director Adam H. Schechter sold 1,263 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $169.29, for a total transaction of $213,813.27. Following the completion of the transaction, the director now owns 7,297 shares in the company, valued at $1,235,309.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 8,400 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $167.36, for a total value of $1,405,824.00. Following the transaction, the chief financial officer now owns 15,931 shares of the company’s stock, valued at approximately $2,666,212.16. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Several brokerages have recently issued reports on LH. Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Friday, February 9th. Citigroup lifted their target price on Laboratory Corp. of America from $161.00 to $184.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Robert W. Baird set a $183.00 target price on Laboratory Corp. of America and gave the stock a “hold” rating in a report on Thursday, February 8th. Craig Hallum reaffirmed a “buy” rating and issued a $204.00 target price (up from $180.00) on shares of Laboratory Corp. of America in a report on Wednesday, February 7th. Finally, ValuEngine raised Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $180.73.

Laboratory Corp. of America Holdings (LH) opened at $177.79 on Friday. The company has a market capitalization of $18,099.02, a PE ratio of 18.52, a P/E/G ratio of 1.50 and a beta of 0.93. Laboratory Corp. of America Holdings has a 12-month low of $134.19 and a 12-month high of $181.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.31 and a quick ratio of 1.20.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.07. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $2.15 earnings per share. analysts expect that Laboratory Corp. of America Holdings will post 11.52 EPS for the current year.

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About Laboratory Corp. of America

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).

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

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