Laboratory Corp. of America Holdings (LH) : Chieftain Capital Management reduced its stake in Laboratory Corp. of America Holdings by 7.33% during the most recent quarter end. The investment management company now holds a total of 1,021,277 shares of Laboratory Corp. of America Holdings which is valued at $130,212,818 after selling 80,791 shares in Laboratory Corp. of America Holdings , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Laboratory Corp. of America Holdings makes up approximately 6.96% of Chieftain Capital Management’s portfolio.
Other Hedge Funds, Including , I.g. Investment Management Ltd. reduced its stake in LH by selling 55,796 shares or 21.05% in the most recent quarter. The Hedge Fund company now holds 209,219 shares of LH which is valued at $26,675,423. Laboratory Corp. of America Holdings makes up approx 0.10% of I.g. Investment Management Ltd.’s portfolio. Engineers Gate Manager Lp sold out all of its stake in LH during the most recent quarter. The investment firm sold 23,000 shares of LH which is valued $2,799,560.Jennison Associates reduced its stake in LH by selling 39,194 shares or 2.68% in the most recent quarter. The Hedge Fund company now holds 1,421,724 shares of LH which is valued at $176,322,210. Laboratory Corp. of America Holdings makes up approx 0.20% of Jennison Associates’s portfolio.Huntington National Bank boosted its stake in LH in the latest quarter, The investment management firm added 3,533 additional shares and now holds a total of 3,719 shares of Laboratory Corp. of America Holdings which is valued at $460,524. Laboratory Corp. of America Holdings makes up approx 0.01% of Huntington National Bank’s portfolio.
Laboratory Corp. of America Holdings closed down -1.12 points or -0.88% at $126 with 6,53,596 shares getting traded on Monday. Post opening the session at $126.81, the shares hit an intraday low of $125.93 and an intraday high of $127.81 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Laboratory Corp. of America Holdings reported $2.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus of $2.29. The company had revenue of $2372.70 million for the quarter, compared to analysts expectations of $2375.79 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 EPS.
Many Wall Street Analysts have commented on Laboratory Corp. of America Holdings. Company shares were Reiterated by Mizuho on Sep 15, 2016 to “Neutral”, Firm has raised the Price Target to $ 145 from a previous price target of $132 .Laboratory Corp. of America Holdings was Initiated by Citigroup to “Neutral” on Sep 9, 2016.
Laboratory Corporation of America Holdings is an independent clinical laboratory company in the United States. Through a national network of laboratories the Company offers a range of clinical laboratory tests that are used by the medical profession in core testing patient diagnosis and in the monitoring and treatment of disease. The Company manages its operations through two segments: the Clinical diagnostics laboratory segment which includes core testing as well as genomic and esoteric testing; and the Other segment which consists of the Company’s non-United States clinical diagnostic laboratory operations in Ontario Canada. It also provides specialty testing services in the areas of allergy clinical trials diagnostic genetics women’s health cardiovascular disease identity forensics infectious disease endocrinology oncology coagulation occupational testing and pain management.