Institutional Investors Sentiment Indicator of Laboratory Corp Of America Holdings (NYSE:LH) Worsens in 2018 Q2

October 11, 2018 - By whatsonthorold

Laboratory Corporation of America Holdings (NYSE:LH) Logo

Sentiment for Laboratory Corp Of America Holdings (NYSE:LH)

Laboratory Corp Of America Holdings (NYSE:LH) institutional sentiment decreased to 0.98 in 2018 Q2. Its down -0.10, from 1.08 in 2018Q1. The ratio is negative, as 278 investment professionals increased and opened new equity positions, while 284 sold and reduced their stakes in Laboratory Corp Of America Holdings. The investment professionals in our partner’s database now own: 100.13 million shares, up from 91.81 million shares in 2018Q1. Also, the number of investment professionals holding Laboratory Corp Of America Holdings in their top 10 equity positions increased from 12 to 16 for an increase of 4. Sold All: 37 Reduced: 247 Increased: 207 New Position: 71.

Laboratory Corporation of America Holdings operates as an independent clinical laboratory firm worldwide. The company has market cap of $17.39 billion. It operates through two divisions, LabCorp Diagnostics and Covance Drug Development. It has a 13.52 P/E ratio. The firm offers a range of clinical laboratory tests and procedures, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, PSA, tests for sexually-transmitted diseases, HCV tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

The stock increased 0.12% or $0.2 during the last trading session, reaching $170.66. About 208,376 shares traded. Laboratory Corporation of America Holdings (NYSE:LH) has risen 8.39% since October 11, 2017 and is uptrending. It has underperformed by 7.23% the S&P500.

Analysts await Laboratory Corporation of America Holdings (NYSE:LH) to report earnings on October, 24. They expect $2.88 EPS, up 17.07 % or $0.42 from last year’s $2.46 per share. LH’s profit will be $293.47 million for 14.81 P/E if the $2.88 EPS becomes a reality. After $2.98 actual EPS reported by Laboratory Corporation of America Holdings for the previous quarter, Wall Street now forecasts -3.36 % negative EPS growth.

Veritas Investment Management Llp holds 8.64% of its portfolio in Laboratory Corporation of America Holdings for 387,845 shares. Veritas Investment Management (Uk) Ltd owns 108,662 shares or 6.34% of their US portfolio. Moreover, Allen Investment Management Llc has 5.54% invested in the company for 809,496 shares. The New York-based Healthcor Management L.P. has invested 5.13% in the stock. Timucuan Asset Management Inc Fl, a Florida-based fund reported 407,833 shares.

Since January 1, 0001, it had 0 insider purchases, and 8 selling transactions for $23.60 million activity.

Laboratory Corporation of America Holdings (NYSE:LH) Ratings Coverage

Ratings analysis reveals 67% of Laboratory Corp’s analysts are positive. Out of 6 Wall Street analysts rating Laboratory Corp, 4 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $190 while the high is $203. The stock’s average target of $197.50 is 15.73% above today’s ($170.66) share price. LH was included in 7 notes of analysts from May 1, 2018. The stock of Laboratory Corporation of America Holdings (NYSE:LH) has “Hold” rating given on Monday, August 20 by Deutsche Bank. The firm has “Overweight” rating by Morgan Stanley given on Monday, September 10. The company was maintained on Tuesday, September 4 by Credit Suisse. The firm earned “Hold” rating on Wednesday, June 27 by Deutsche Bank. The stock of Laboratory Corporation of America Holdings (NYSE:LH) has “Outperform” rating given on Tuesday, May 1 by Robert W. Baird. The firm has “Hold” rating given on Friday, May 25 by Mizuho. The rating was upgraded by KeyBanc Capital Markets to “Buy” on Thursday, June 7.

Another recent and important Laboratory Corporation of America Holdings (NYSE:LH) news was published by Streetinsider.com which published an article titled: “Walgreens (WBA) and LabCorp (LH) to Open at Least 600 LabCorp at Walgreens Patient Service Centers” on October 10, 2018.

Laboratory Corporation of America Holdings (NYSE:LH) Institutional Positions Chart

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