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TheStreet Wire

Laboratory Corporation Of America Rises On Unusually High Volume (LH)

By TheStreet Wire 08/01/12 - 11:53 AM EDT

Find out if (LH) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Laboratory Corporation of America Holdings (NYSE:LH) is trading at unusually high volume Wednesday with 3.6 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up $2.92 (+3.5%) at $87.01 as of 11:30 a.m. ET.

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Laboratory Corporation of America has a market cap of $8.22 billion and is part of the health care sector and health services industry. Shares are down 2.2% year to date as of the close of trading on Tuesday.

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company in the United States. The company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of diseases. The company has a P/E ratio of 15.6, above the average health services industry P/E ratio of 14.5 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Laboratory Corporation of America as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Laboratory Corporation of America Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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