Laboratory Corp. of America Holdings (NYSE:LH) Position Reduced by Hahn Capital Management LLC

Hahn Capital Management LLC cut its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,758 shares of the medical research company’s stock after selling 3,009 shares during the period. Laboratory Corp. of America makes up about 2.9% of Hahn Capital Management LLC’s holdings, making the stock its 22nd largest holding. Hahn Capital Management LLC owned approximately 0.19% of Laboratory Corp. of America worth $30,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Zeke Capital Advisors LLC acquired a new position in Laboratory Corp. of America in the fourth quarter valued at approximately $537,000. LPL Financial LLC lifted its stake in Laboratory Corp. of America by 7.6% during the fourth quarter. LPL Financial LLC now owns 4,081 shares of the medical research company’s stock worth $652,000 after purchasing an additional 290 shares in the last quarter. Sciencast Management LP lifted its stake in Laboratory Corp. of America by 222.6% during the fourth quarter. Sciencast Management LP now owns 9,385 shares of the medical research company’s stock worth $1,646,000 after purchasing an additional 6,476 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in Laboratory Corp. of America by 5.5% during the fourth quarter. Meadow Creek Investment Management LLC now owns 13,440 shares of the medical research company’s stock worth $2,144,000 after purchasing an additional 700 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in Laboratory Corp. of America by 3.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,424 shares of the medical research company’s stock worth $1,823,000 after purchasing an additional 394 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

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A number of research analysts have commented on LH shares. Barclays restated a “buy” rating and set a $195.00 price target on shares of Laboratory Corp. of America in a research note on Wednesday, December 13th. Zacks Investment Research cut Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Evercore ISI started coverage on Laboratory Corp. of America in a research note on Thursday, January 4th. They set an “outperform” rating and a $176.00 price target on the stock. ValuEngine cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Mizuho set a $178.00 price target on Laboratory Corp. of America and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $189.19.

Shares of NYSE LH opened at $161.65 on Friday. The firm has a market capitalization of $16,695.29, a PE ratio of 16.84, a P/E/G ratio of 1.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.31. Laboratory Corp. of America Holdings has a 12-month low of $134.19 and a 12-month high of $181.71.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.07. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period last year, the firm earned $2.15 earnings per share. analysts anticipate that Laboratory Corp. of America Holdings will post 11.54 earnings per share for the current year.

In related news, CEO David P. King sold 49,967 shares of the stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $164.75, for a total value of $8,232,063.25. Following the transaction, the chief executive officer now owns 231,202 shares of the company’s stock, valued at $38,090,529.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adam H. Schechter sold 1,263 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $169.29, for a total value of $213,813.27. Following the completion of the transaction, the director now directly owns 7,297 shares in the company, valued at approximately $1,235,309.13. The disclosure for this sale can be found here. Insiders sold 59,630 shares of company stock worth $9,851,701 in the last three months. 0.90% of the stock is currently owned by corporate insiders.

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Laboratory Corp. 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 Corp. of America (NYSE:LH)

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