Captrust Financial Advisors Acquires Shares of 1,429 Laboratory Corp. of America Holdings (LH)

Captrust Financial Advisors bought a new stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,429 shares of the medical research company’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new position in Laboratory Corp. of America during the third quarter valued at $444,000. Cubist Systematic Strategies LLC lifted its position in Laboratory Corp. of America by 233.1% during the third quarter. Cubist Systematic Strategies LLC now owns 10,599 shares of the medical research company’s stock valued at $1,600,000 after purchasing an additional 7,417 shares in the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in Laboratory Corp. of America during the fourth quarter valued at $2,208,000. Lazard Asset Management LLC lifted its position in Laboratory Corp. of America by 0.3% during the fourth quarter. Lazard Asset Management LLC now owns 220,458 shares of the medical research company’s stock valued at $35,165,000 after purchasing an additional 618 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Laboratory Corp. of America by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 750,099 shares of the medical research company’s stock valued at $119,648,000 after acquiring an additional 124,294 shares in the last quarter. Institutional investors own 92.32% of the company’s stock.

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Shares of LH stock traded down $3.41 during trading hours on Friday, hitting $161.65. The stock had a trading volume of 688,915 shares, compared to its average volume of 666,611. Laboratory Corp. of America Holdings has a one year low of $134.19 and a one year high of $181.71. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $16,472.13, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.36 and a beta of 0.94.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.07. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The firm had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. research analysts predict that Laboratory Corp. of America Holdings will post 11.55 EPS for the current fiscal year.

In other Laboratory Corp. of America news, CEO David P. King sold 49,967 shares of the business’s stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $164.75, for a total transaction of $8,232,063.25. Following the sale, the chief executive officer now directly owns 231,202 shares of the company’s stock, valued at $38,090,529.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $213,813.27. Following the sale, the director now directly owns 7,297 shares in the company, valued at $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 over the last ninety days. Insiders own 0.90% of the company’s stock.

LH has been the topic of several research analyst reports. Robert W. Baird set a $183.00 price objective on Laboratory Corp. of America and gave the company a “hold” rating in a research report on Thursday, February 8th. Zacks Investment Research downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Barclays restated a “buy” rating and issued a $195.00 price objective on shares of Laboratory Corp. of America in a research report on Wednesday, December 13th. Morgan Stanley boosted their price objective on Laboratory Corp. of America from $182.00 to $192.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Finally, Jefferies Group restated a “hold” rating and issued a $176.00 price objective on shares of Laboratory Corp. of America in a research report on Tuesday, March 6th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $189.19.

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Laboratory Corp. of America Company 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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