5 Best Stocks to Buy Today According to Wallace Weitz’s Hedge Fund

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In this article, we will be looking at the 5 best stocks to buy today according to Wallace Weitz’s hedge fund. If you want to see our comprehensive analysis of Weitz’s history and hedge fund performance, go directly to 10 Best Stocks to Buy Today According to Wallace Weitz’s Hedge Fund.

5. Laboratory Corporation of America Holdings (NYSE:LH)

Weitz Investment Management’s Stake Value: $101.60 million

Percentage of Weitz Investment Management’s 13F portfolio: 4.25%

Total Number of Hedge Fund Holders: 53

Then there’s Laboratory Corporation of America Holdings (NYSE: LH), a clinal lab which conducts various health tests through its franchises around the globe. The company also provides diagnostic data to heath professionals for better decision-making and research. Laboratory Corporation of America Holdings (NYSE: LH) operates through its segments: Drug Development and Diagnostics, and is headquartered in Burlington, North Carolina.

By the end of September, Weitz Investment Management reported owning 361,000 shares in Laboratory Corporation of America Holdings (NYSE: LH), at a value of $101.60 million. The fund has decreased its holdings in the company by 3% over the last quarter.

On November 1, research firm Credit Suisse maintained its ‘Outperform’ rating on Laboratory Corporation of America Holdings (NYSE: LH) stock, setting the price target at $338.

In November, the firm reported its plans to acquire Toxicon, a contract research organisation which specialises in non-clinical testing services. With increased annual revenues of around $40 million, this merger is expected to be completed by end of the year, and will allow Laboratory Corporation of America Holdings (NYSE: LH) to partner with biotech and pharmaceutical clients in the Boston area.

In Q2 2021, 53 hedge funds owned shares in Laboratory Corporation of America Holdings (NYSE: LH), with a combined value of $2.55 billion. This is in comparison to the previous quarter where 54 hedge funds reported owning shares worth $2.47 billion.

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