Laboratory Corporation of America Holdings (NYSE:LH) Shares Sold by Country Trust Bank

Country Trust Bank decreased its position in Laboratory Corporation of America Holdings (NYSE:LH) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,408 shares of the medical research company’s stock after selling 105 shares during the period. Country Trust Bank owned about 0.15% of Laboratory Corporation of America Holdings worth $23,800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its position in shares of Laboratory Corporation of America Holdings by 30.0% in the second quarter. Janney Montgomery Scott LLC now owns 6,709 shares of the medical research company’s stock worth $1,034,000 after buying an additional 1,548 shares during the period. IBM Retirement Fund raised its position in shares of Laboratory Corporation of America Holdings by 34.9% in the second quarter. IBM Retirement Fund now owns 1,535 shares of the medical research company’s stock worth $237,000 after buying an additional 397 shares during the period. NGAM Advisors L.P. raised its position in shares of Laboratory Corporation of America Holdings by 15.8% in the second quarter. NGAM Advisors L.P. now owns 21,045 shares of the medical research company’s stock worth $3,244,000 after buying an additional 2,864 shares during the period. John G Ullman & Associates Inc. raised its position in shares of Laboratory Corporation of America Holdings by 4.3% in the second quarter. John G Ullman & Associates Inc. now owns 2,892 shares of the medical research company’s stock worth $446,000 after buying an additional 118 shares during the period. Finally, Beck Mack & Oliver LLC raised its stake in shares of Laboratory Corporation of America Holdings by 2.1% in the second quarter. Beck Mack & Oliver LLC now owns 528,517 shares of the medical research company’s stock valued at $81,466,000 after buying an additional 11,025 shares during the period. Institutional investors own 91.64% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded down 0.42% during midday trading on Friday, hitting $153.91. The stock had a trading volume of 460,530 shares. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $164.22. The stock has a 50 day moving average price of $155.89 and a 200-day moving average price of $145.06. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 21.56 and a beta of 0.94.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $2.36 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.50 earnings per share for the current year.

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Several brokerages have recently weighed in on LH. Morgan Stanley upped their price objective on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Barclays PLC upped their price objective on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Craig Hallum restated a “buy” rating and issued a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Finally, Credit Suisse Group lowered Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective for the company. in a report on Thursday, July 13th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings presently has an average rating of “Buy” and an average price target of $159.75.

In other Laboratory Corporation of America Holdings news, Director R Sanders Williams sold 3,100 shares of Laboratory Corporation of America Holdings stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $156.88, for a total transaction of $486,328.00. Following the transaction, the director now directly owns 10,073 shares in the company, valued at $1,580,252.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the sale, the chief financial officer now directly owns 18,122 shares in the company, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. Insiders sold a total of 17,681 shares of company stock worth $2,743,227 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

About Laboratory Corporation of America Holdings

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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