Assenagon Asset Management S.A. Sells 27,862 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Assenagon Asset Management S.A. trimmed its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 87.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,090 shares of the medical research company’s stock after selling 27,862 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Laboratory Corp. of America were worth $687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in Laboratory Corp. of America in the second quarter worth approximately $32,000. Legacy Advisors LLC purchased a new position in shares of Laboratory Corp. of America during the second quarter valued at approximately $33,000. Meeder Asset Management Inc. purchased a new position in shares of Laboratory Corp. of America during the second quarter valued at approximately $33,000. C M Bidwell & Associates Ltd. boosted its position in shares of Laboratory Corp. of America by 1,636.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock valued at $33,000 after buying an additional 180 shares during the last quarter. Finally, Private Ocean LLC boosted its position in shares of Laboratory Corp. of America by 54.3% during the second quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock valued at $36,000 after buying an additional 75 shares during the last quarter. Institutional investors own 90.37% of the company’s stock.

Several research analysts recently issued reports on LH shares. KeyCorp lifted their target price on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Barclays set a $200.00 target price on Laboratory Corp. of America and gave the company a “buy” rating in a research report on Monday, July 15th. UBS Group cut their target price on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday. Bank of America raised Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price on the stock in a research report on Tuesday, July 16th. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 target price on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $184.91.

Shares of Laboratory Corp. of America stock opened at $167.62 on Wednesday. The business’s fifty day simple moving average is $168.98 and its 200 day simple moving average is $166.33. The firm has a market capitalization of $16.43 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month high of $178.44. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. Laboratory Corp. of America’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $2.98 earnings per share. Analysts predict that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.

In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.85, for a total value of $446,810.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lance Berberian sold 5,902 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $169.80, for a total value of $1,002,159.60. Following the completion of the sale, the senior vice president now owns 6,097 shares in the company, valued at $1,035,270.60. The disclosure for this sale can be found here. Insiders have sold 11,468 shares of company stock worth $1,946,168 over the last quarter. 0.74% of the stock is currently owned by corporate insiders.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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