V Wealth Management LLC Reduces Position in Laboratory Corporation of America Holdings (NYSE:LH)

V Wealth Management LLC decreased its position in Laboratory Corporation of America Holdings (NYSE:LH) by 0.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,291 shares of the medical research company’s stock after selling 54 shares during the period. Laboratory Corporation of America Holdings comprises approximately 1.0% of V Wealth Management LLC’s portfolio, making the stock its 25th largest position. V Wealth Management LLC’s holdings in Laboratory Corporation of America Holdings were worth $2,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Forte Capital LLC ADV boosted its position in shares of Laboratory Corporation of America Holdings by 4.7% in the first quarter. Forte Capital LLC ADV now owns 30,156 shares of the medical research company’s stock worth $4,326,000 after buying an additional 1,340 shares in the last quarter. Raymond James Trust N.A. boosted its position in Laboratory Corporation of America Holdings by 29.0% in the first quarter. Raymond James Trust N.A. now owns 3,115 shares of the medical research company’s stock valued at $447,000 after buying an additional 701 shares during the period. Indiana Trust & Investment Management CO acquired a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $202,000. Chevy Chase Trust Holdings Inc. boosted its position in Laboratory Corporation of America Holdings by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 168,164 shares of the medical research company’s stock valued at $24,123,000 after buying an additional 4,952 shares during the period. Finally, Moreno Evelyn V boosted its position in Laboratory Corporation of America Holdings by 10.0% in the first quarter. Moreno Evelyn V now owns 5,915 shares of the medical research company’s stock valued at $849,000 after buying an additional 540 shares during the period. Institutional investors own 91.89% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded down 0.12% during mid-day trading on Friday, reaching $156.21. The company’s stock had a trading volume of 441,945 shares. The stock has a market capitalization of $15.90 billion, a P/E ratio of 21.88 and a beta of 0.94. The company has a 50 day moving average price of $155.35 and a 200 day moving average price of $144.27. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.36 earnings per share. On average, equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current fiscal year.

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Several research firms recently commented on LH. Barclays PLC boosted their price target on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Finally, Credit Suisse Group cut Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target on the stock. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Laboratory Corporation of America Holdings has a consensus rating of “Buy” and a consensus target price of $159.00.

In other Laboratory Corporation of America Holdings news, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Lance Berberian sold 3,613 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total transaction of $505,241.92. Following the sale, the senior vice president now directly owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,581 shares of company stock valued at $2,256,899. Corporate insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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