Investors Purchase Large Volume of Call Options on Laboratory Corp. of America (LH)

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Laboratory Corp. of America Holdings (NYSE:LH) was the target of unusually large options trading on Wednesday. Traders purchased 2,353 call options on the stock. This represents an increase of approximately 2,184% compared to the typical daily volume of 103 call options.

Shares of Laboratory Corp. of America stock opened at $168.90 on Thursday. Laboratory Corp. of America has a twelve month low of $146.68 and a twelve month high of $190.35. The firm has a market capitalization of $17.62 billion, a P/E ratio of 17.59, a PEG ratio of 1.73 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.42.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Wednesday, July 25th. The medical research company reported $2.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.06. Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The firm had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter last year, the firm earned $2.47 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. equities research analysts predict that Laboratory Corp. of America will post 11.53 EPS for the current year.

Several research firms have recently issued reports on LH. Barclays raised their price objective on Laboratory Corp. of America from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, May 25th. SunTrust Banks restated a “buy” rating and set a $220.00 price objective on shares of Laboratory Corp. of America in a report on Friday, July 20th. ValuEngine cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Mizuho restated a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Finally, Deutsche Bank cut Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price objective on the stock. in a report on Wednesday, June 27th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Laboratory Corp. of America has a consensus rating of “Buy” and a consensus price target of $196.18.

A number of institutional investors have recently modified their holdings of LH. HL Financial Services LLC acquired a new position in Laboratory Corp. of America in the first quarter valued at $968,000. Commerzbank Aktiengesellschaft FI raised its position in Laboratory Corp. of America by 94.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 2,754 shares of the medical research company’s stock valued at $445,000 after purchasing an additional 1,341 shares during the period. Alps Advisors Inc. purchased a new position in Laboratory Corp. of America in the first quarter valued at about $445,000. Comerica Bank raised its position in Laboratory Corp. of America by 24.2% in the first quarter. Comerica Bank now owns 49,201 shares of the medical research company’s stock valued at $8,279,000 after purchasing an additional 9,587 shares during the period. Finally, Atria Investments LLC raised its position in Laboratory Corp. of America by 12.7% in the first quarter. Atria Investments LLC now owns 2,956 shares of the medical research company’s stock valued at $478,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C 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.

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