BlackRock Fund Advisors has recently announced that it has increased stake in Laboratory Corporation of America Holdings (NYSE:LH) by 0.14%. After grabbing 5.26 million shares, the institutional investor is now in possession of 7210.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.82% having worth around $1.17 billion. Moreover, BlackRock Advisors LLC increased its share by 0.11 million to have a control over 2.44 million shares. And JPMorgan Investment Management, I raised its holdings to 0.19 million shares by acquiring 1.92 million shares or 2.13% of the stake.
Laboratory Corporation of America Holdings (LH) concluded trading on 11/23/22 at a closing price of $238.29, with 0.47 million shares of worth about $112.59 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.68% during that period and on Wednesday the price saw a gain of about 0.65%. Currently the company’s common shares owned by public are about 90.20M shares, out of which, 88.36M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 17 analysts are covering the LH stock and their offered price forecasts bring an average price target of $278.46. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $315.00 and could fall to a lowest price of $250.00. The stock’s current price level is 14.5% above of average price target set by the analysts, while a rise to estimated low would result in gain of 4.68% for the stock. However, touching the estimated high of $315.00 would mean a gain of 24.35% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 128 times over the past 12 months. They bought 119,547 shares in 59 of the transactions. In 69 selling transactions, insiders dumped 99,305 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Laboratory Corporation of America Holdings Vanguard Total Stock Market Index is currently holding 2.71 million shares of worth totaling $601.68 million. The company recently came buying 15109.0 shares which brought its stake up to 3.00% of the company’s outstanding shares. Vanguard Mid Cap Index Fund bought 26665.0 shares, after which its hold over company’s outstanding shares expand to 2.34%, leaving 2.11 million shares with the mutual fund that have a worth of about $468.52 million. Vanguard 500 Index Fund, after buying 2.07 million shares, have now control over 2.29% of the stake in the company. It holds 20107.0 shares of worth $458.93 million.
Laboratory Corporation of America Holdings (NYSE: LH) started trading at $237.14, above $0.39 from concluding price of the previous day. However, the stock later moved at a day high price of 239.09, or with a gain of 0.65%. Stock saw a price change of -2.26% in past 5 days and over the past one month there was a price change of 4.42%. Year-to-date (YTD), LH shares are showing a performance of -24.16% which decreased to -16.66% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $200.32 but also hit the highest price of $317.17 during that period. The average intraday trading volume for Laboratory Corporation of America Holdings shares is 768.18K. The stock is currently trading 2.41% above its 20-day simple moving average (SMA20), while that difference is up 7.92% for SMA50 and it goes to -2.55% lower than SMA200.
BlackRock Fund Advisors acquired 5.26 million shares of Laboratory Corporation of America Holdings having value of about $1.17 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 7210.0 shares in the company valued at close to $1718070.9, or have control over 0.14% stake in the company. Laboratory Corporation of America Holdings (NYSE: LH) currently have 90.20M outstanding shares and institutions hold larger chunk of about 94.50% of that. Holding of mutual funds in the company is about 41.40% while other institutional holders and individual stake holders have control over 50.47% and 1.53% of the stake respectively.
The stock has a current market capitalization of $21.37B and its 3Y-monthly beta is at 1.07. PE ratio of stock for trailing 12 months is 12.72, while it has posted earnings per share of $18.73 in the same period. It has Quick Ratio of 1.50 while making debt-to-equity ratio of 0.54. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LH, volatility over the week remained 3.30% while standing at 3.05% over the month.
Analysts are in expectations that Laboratory Corporation of America Holdings (LH) stock would likely to be making an EPS of $4.52 in the current quarter, while forecast for next quarter EPS is $4.19 and it is $17.92 for next year. For the current quarter EPS, analysts have given the company a lowest target $4.36 which is $4.67 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $6.77 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 53.60% while it is estimated to decrease by -11.27% in next year. EPS is likely to shrink at an annualized rate of -13.68% for next 5-years, compared to annual growth of 29.00% made by the stock over the past 5-years.
Analysts at 17 brokerage firms have issued recommendations for the Laboratory Corporation of America Holdings (LH)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 17 Wall Street analysts, 12 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Coverage by Morgan Stanley stated Laboratory Corporation of America Holdings (LH) stock as an Overweight in their note to investors on August 22, 2022, suggesting a price target of $300 for the stock. On January 28, 2022, Deutsche Bank Downgrade their recommendations, while on January 11, 2021, Argus Upgrade their ratings for the stock with a price target of $245. Stock get an Underperform rating from Wolfe Research on January 11, 2021.