Published on 21 Dec 2023 on Insider Monkey via Yahoo Finance
Should You Invest in Laboratory Corporation of America Holdings (LH)?
Diamond Hill Capital, an investment management company, released its “Long-Short Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The positive returns of the portfolio outperformed the Russell 1000 Index and the blended benchmark (60% Russell 1000 Index/40% Bloomberg US Treasury Bills 1-3 Month Index), both of which were negative in Q3. The short book trailed the index, providing a relative tailwind to performance. Long financial holdings were another source of relative strength. On the other hand, the fund’s long industrials and healthcare holdings were sources of relative weakness in Q3. In addition, you may look at the fund's top 5 holdings to learn about its best picks in 2023.
Diamond Hill Long-Short Fund highlighted stocks like Laboratory Corporation of America Holdings (NYSE:LH) in the third quarter 2023 investor letter. Headquartered in Burlington, North Carolina, Laboratory Corporation of America Holdings (NYSE:LH) is a life sciences company. On December 20, 2023, Laboratory Corporation of America Holdings (NYSE:LH) stock closed at $220.19 per share. One-month return of Laboratory Corporation of America Holdings (NYSE:LH) was 4.06%, and its shares gained 10.62% of their value over the last 52 weeks. Laboratory Corporation of America Holdings (NYSE:LH) has a market capitalization of $18.694 billion.
Diamond Hill Long-Short Fund made the following comment about Laboratory Corporation of America Holdings (NYSE:LH) in its Q3 2023 investor letter: