University of Notre Dame DU Lac Sells 1,337 Shares of Laboratory Corporation of America Holdings (LH)

University of Notre Dame DU Lac cut its holdings in Laboratory Corporation of America Holdings (NYSE:LH) by 7.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,231 shares of the medical research company’s stock after selling 1,337 shares during the quarter. University of Notre Dame DU Lac’s holdings in Laboratory Corporation of America were worth $2,450,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Laboratory Corporation of America by 16.5% during the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after buying an additional 100 shares during the period. Sun Life Financial INC boosted its stake in Laboratory Corporation of America by 9,200.0% during the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock worth $115,000 after buying an additional 736 shares during the period. IFP Advisors Inc boosted its stake in Laboratory Corporation of America by 83.9% during the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after buying an additional 523 shares during the period. Hourglass Capital LLC purchased a new position in Laboratory Corporation of America during the second quarter worth $200,000. Finally, Teacher Retirement System of Texas purchased a new position in Laboratory Corporation of America during the third quarter worth $210,000. 91.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded down $2.69 on Wednesday, hitting $155.22. 573,400 shares of the stock were exchanged, compared to its average volume of 723,059. The stock has a market capitalization of $16,075.24, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.68 and a beta of 0.87. Laboratory Corporation of America Holdings has a 1 year low of $123.41 and a 1 year high of $164.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75.

Laboratory Corporation of America (NYSE:LH) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corporation of America had a net margin of 7.40% and a return on equity of 16.75%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.25 earnings per share. equities analysts forecast that Laboratory Corporation of America Holdings will post 9.52 EPS for the current year.

LH has been the subject of several recent analyst reports. SunTrust Banks reaffirmed a “buy” rating and set a $190.00 price objective on shares of Laboratory Corporation of America in a research note on Thursday, October 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price objective (up from $175.00) on shares of Laboratory Corporation of America in a research note on Monday, September 11th. ValuEngine raised shares of Laboratory Corporation of America from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Laboratory Corporation of America from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a research note on Thursday, September 21st. Finally, Craig Hallum reissued a “buy” rating and set a $180.00 target price (up from $175.00) on shares of Laboratory Corporation of America in a research note on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $170.92.

In other news, Director Dwight Gary Gilliland sold 971 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now directly owns 3,501 shares of the company’s stock, valued at $537,473.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

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About Laboratory Corporation of America

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).

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

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