Cubist Systematic Strategies LLC boosted its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 97.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,182 shares of the medical research company’s stock after acquiring an additional 1,573 shares during the period. Cubist Systematic Strategies LLC’s holdings in Laboratory Corporation of America Holdings were worth $490,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Empyrean Capital Partners LP bought a new position in Laboratory Corporation of America Holdings during the second quarter valued at about $92,484,000. Janus Henderson Group PLC increased its stake in Laboratory Corporation of America Holdings by 5,992.1% during the second quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock valued at $137,128,000 after acquiring an additional 875,028 shares during the period. Macquarie Group Ltd. increased its stake in Laboratory Corporation of America Holdings by 322.1% during the second quarter. Macquarie Group Ltd. now owns 5,504 shares of the medical research company’s stock valued at $848,000 after acquiring an additional 4,200 shares during the period. Royal Bank of Canada increased its stake in Laboratory Corporation of America Holdings by 24.6% during the second quarter. Royal Bank of Canada now owns 217,128 shares of the medical research company’s stock valued at $33,471,000 after acquiring an additional 42,844 shares during the period. Finally, AHL Partners LLP increased its stake in Laboratory Corporation of America Holdings by 9.3% during the second quarter. AHL Partners LLP now owns 93,763 shares of the medical research company’s stock valued at $14,453,000 after acquiring an additional 7,960 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Several equities analysts recently issued reports on the company. Craig Hallum restated a “buy” rating and set a $179.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Credit Suisse Group lowered Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target on the stock. in a research note on Thursday, July 13th. They noted that the move was a valuation call. ValuEngine lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Robert W. Baird restated a “hold” rating and set a $166.00 price target on shares of Laboratory Corporation of America Holdings in a research note on Tuesday, October 17th. Finally, Barclays PLC restated an “overweight” rating and set a $182.00 price target (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, July 17th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $170.31.

In related news, CEO David P. King sold 132,713 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total value of $20,843,903.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David P. King sold 44,687 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now directly owns 258,753 shares in the company, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders sold 222,968 shares of company stock worth $34,980,922 over the last three months. 0.90% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://theolympiareport.com/2017/10/23/cubist-systematic-strategies-llc-raises-position-in-laboratory-corporation-of-america-holdings-lh.html.

Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 151.72 on Monday. The company has a market capitalization of $15.45 billion, a price-to-earnings ratio of 21.25 and a beta of 0.92. The stock has a 50 day moving average price of $152.76 and a 200 day moving average price of $149.09. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $2.36 earnings per share. Analysts forecast that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current year.

Laboratory Corporation of America Holdings 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).

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corporation of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

Receive News & Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related companies with Analyst Ratings Network's FREE daily email newsletter.