Today, UBS Asset Management Americas Inc. Raises Stake in Laboratory Corp. of America Holdings (LH)

Today, UBS Asset Management Americas Inc. Raises Stake in Laboratory Corp. of America Holdings (LH)
UBS Asset Management Americas Inc. raised its position in Laboratory Corp. of America Holdings (NYSE:LH) by 45.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 864,366 shares of the company’s stock after buying an additional 270,932 shares during the period. UBS Asset Management Americas Inc. owned about 0.84% of Laboratory Corp. of America Holdings worth $118,833,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of LH. Boston Partners raised its stake in Laboratory Corp. of America Holdings by 78.5% in the second quarter. Boston Partners now owns 3,555,298 shares of the company’s stock worth $463,149,000 after buying an additional 1,563,105 shares during the last quarter. Vanguard Group Inc. raised its stake in Laboratory Corp. of America Holdings by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,406,648 shares of the company’s stock worth $1,225,404,000 after buying an additional 463,343 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Laboratory Corp. of America Holdings during the second quarter worth $51,661,000. Bank of Montreal Can acquired a new stake in Laboratory Corp. of America Holdings during the second quarter worth $49,845,000. Finally, Bessemer Group Inc. raised its stake in Laboratory Corp. of America Holdings by 58.9% in the second quarter. Bessemer Group Inc. now owns 850,573 shares of the company’s stock worth $110,804,000 after buying an additional 315,250 shares during the last quarter. 94.58% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Corp. of America Holdings (NYSE:LH) traded up 1.10% on Friday, reaching $127.39. 181,115 shares of the company’s stock traded hands. The company has a market cap of $13.12 billion, a PE ratio of 20.20 and a beta of 0.96. The firm’s 50 day moving average price is $130.38 and its 200 day moving average price is $132.90. Laboratory Corp. of America Holdings has a 12 month low of $97.79 and a 12 month high of $141.32.

Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $2.25 EPS for the quarter, missing the consensus estimate of $2.29 by $0.04. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Laboratory Corp. of America Holdings had a return on equity of 16.97% and a net margin of 6.85%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business posted $2.07 earnings per share. On average, equities analysts expect that Laboratory Corp. of America Holdings will post $8.78 EPS for the current fiscal year.

LH has been the topic of a number of research reports. Zacks Investment Research raised shares of Laboratory Corp. of America Holdings from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a report on Tuesday, October 4th. SunTrust Banks Inc. restated a “buy” rating on shares of Laboratory Corp. of America Holdings in a research report on Thursday, July 28th. Gabelli assumed coverage on shares of Laboratory Corp. of America Holdings in a research report on Tuesday, October 25th. They issued a “buy” rating and a $180.00 price target on the stock. Barclays PLC set a $155.00 price target on shares of Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a research report on Monday, August 29th. Finally, Citigroup Inc. assumed coverage on shares of Laboratory Corp. of America Holdings in a research report on Friday, September 9th. They issued a “neutral” rating and a $156.00 price target on the stock. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $143.13.

About Laboratory Corp. of America Holdings

Related posts

Leave a Comment