Here’s Why You Should Consider Investing in Laboratory Corp. (LH)

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Weitz Investment Management, an investment management firm, published its “Hickory Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -1.31% was recorded by the fund in the third quarter of 2021, underperforming its Russell Midcap benchmark that delivered a -0.93% return. Year-to-date, the Fund has returned +12.93% compared to +15.16% for the index. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Weitz Investment Management Hickory Fund, in its Q3 2021 investor letter, mentioned Laboratory Corporation of America Holdings (NYSE: LH) and discussed its stance on the firm. Laboratory Corporation of America Holdings is a Burlington, North Carolina-based testing laboratories company with a $27.1 billion market capitalization. LH delivered a 39.41% return since the beginning of the year, while its 12-month returns are up by 43.05%. The stock closed at $283.76 per share on November 22, 2021.

Here is what Weitz Investment Management Hickory Fund has to say about Laboratory Corporation of America Holdings in its Q3 2021 investor letter:

Labcorp has also been a year-to-date contributor as the company’s traditional lab business continues to recover and as it becomes clear that COVID-related demand will remain elevated for an extended period.”

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Based on our calculations, Laboratory Corporation of America Holdings (NYSE:LH) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. was in 58 hedge fund portfolios at the end of the third quarter of 2021, compared to 53 funds in the previous quarter. Laboratory Corporation of America Holdings (NYSE:LH) delivered a -6.57% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.