Laboratory Corp. Of America Holdings (NYSE:LH) Receives a Downgrade
Shares of Laboratory Corp. Of America Holdings (NYSE:LH) were lowered to a “Neutral” rating by investment advisers at Goldman Sachs. They now have a target price per share of $126.00 on LH. The past rating by Goldman Sachs was a “Buy” and will no longer be valid.
The stock decreased 0.02% or $0.03 during the last trading session, striking $124.71. Approximately shares of stock traded hands. Laboratory Corp. of America Holdings (NYSE:LH) has risen 6.32% since May 5, 2015 and is uptrending. It has outperformed by 6.91% the S&P500.
The overall sentiment of institutions has increased to 1.07 in Q2 2015. Its up 0.09, from 0.98 in 2015Q2. The ratio is positive, as 56 institutions have sold all the shares of Laboratory Corp. of America Holdings that they owned while 201 funds have taken shares off the table. 60 funds have purchased shares for the first time while 216 added to their positions. These institutions now hold 94.34 million shares or 0.40% less than the 94.72 million shares they owned in 2015Q2.
The Fund Decade Capital Management Llc currently is holding shares equating to 6.24% of its total portfolio in Laboratory Corp. of America Holdings representing a total of 266,619 shares. Another fund,Gavekal Capital Llc, is holding a total of 110,007 shares equating to 4.53% of their holdings. Additionally, Visium Asset Management Lp has a 3.02 million share stake in Laboratory Corp. of America Holdings which represents 4.47% of their total portfolio. The Fund, Bridger Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 4.42% of their total portfolio. Finally Timucuan Asset Management Inc Fl, a fund which is based in the state of Florida reported a total holdings of 337,318 shares.
Laboratory Corporation of America Holdings is an independent clinical laboratory firm in the United States. The company has a market cap of $12.62 billion. 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. It has 27.58 P/E ratio. The Firm manages its activities through two divisions: 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 activities in Ontario, Canada.
According to Zacks Investment Research, “Laboratory Corporation of America Holdings, is one of the largest independent clinical laboratory company’s in the United States. Through a national network of laboratories, the company offers different clinical laboratory tests which are used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.” Get a free copy of the Zacks research report on Laboratory Corp. of America Holdings (LH).