5 Best Stocks to Buy According to Billionaire Barry Rosenstein’s Jana Partners

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

JANA Partner’s Stake Value: $290,629,000
Percent of JANA Partner’s 13F Portfolio: 19.59%
Number of Hedge Fund Holders: 54

Laboratory Corporation of America Holdings (NYSE: LH), commonly known as LabCorp, stands second on our list of the best stocks to buy according to Billionaire Barry Rosenstein’s Jana Partners. LabCorp is an American diagnostic and testing laboratories company with headquarters in North Carolina, U.S. It is one of the largest laboratory networks globally and processes over 3 million patient specimens per week.

As of Q1 2021, Barry Rosenstein’s Jana Partners has over 1.13 million shares in the company, worth $290.6 million. The fund has increased its position in the company by 41% in the first quarter. It currently accounts for 19.59% of the fund’s 13F portfolio. In Q1 2021, Laboratory Corporation of America Holdings (NYSE: LH) reported strong earnings. The company’s net income was recorded at $865 million, up from $232 million during the same period last year. The EPS of $8.79 beat the consensus by $1.36. The revenue also grew from $2.8 billion last year to $4.2 billion in the first quarter.

At the end of Q1 2021, 54 hedge funds tracked by Insider Monkey have positions in Laboratory Corporation of America Holdings (NYSE: LH), worth $2.4 billion.