Stock Traders Buy High Volume of Call Options on Laboratory Corporation of America Holdings (LH)

Laboratory Corporation of America Holdings (NYSE:LH) was the recipient of unusually large options trading activity on Thursday. Traders bought 1,137 call options on the company. This is an increase of approximately Infinity compared to the typical volume of 0 call options.

Shares of Laboratory Corporation of America Holdings (LH) opened at $150.46 on Friday. Laboratory Corporation of America Holdings has a 52-week low of $123.36 and a 52-week high of $164.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. The stock has a market cap of $15,482.76, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.61 and a beta of 0.87.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm posted $2.25 EPS. Laboratory Corporation of America Holdings’s revenue was up 9.5% compared to the same quarter last year. equities analysts forecast that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current year.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Craig Hallum reiterated a “buy” rating and issued a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Barclays PLC raised their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $170.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Wednesday, September 13th. Finally, ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $169.00.

In related news, Director Dwight Gary Gilliland sold 971 shares of the firm’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 value of $149,067.92. Following the completion of the transaction, the director now owns 3,501 shares in the company, valued at approximately $537,473.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The disclosure for this sale can be found here. Insiders sold 209,871 shares of company stock valued at $32,892,005 in the last three months. Company insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC lifted its stake in Laboratory Corporation of America Holdings by 16.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 100 shares in the last quarter. Sun Life Financial INC lifted its stake in Laboratory Corporation of America Holdings by 9,200.0% during the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 736 shares in the last quarter. IFP Advisors Inc lifted its stake in Laboratory Corporation of America Holdings by 83.9% during the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 523 shares in the last quarter. Hourglass Capital LLC bought a new position in Laboratory Corporation of America Holdings during the 2nd quarter valued at $200,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Laboratory Corporation of America Holdings during the 1st quarter valued at $208,000. 93.84% of the stock is owned by institutional investors and hedge funds.

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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).

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