Cypress Capital Management LLC Reduces Holdings in Laboratory Corp. of America Holdings (LH)

Cypress Capital Management LLC lessened its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 4.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,335 shares of the medical research company’s stock after selling 200 shares during the quarter. Cypress Capital Management LLC’s holdings in Laboratory Corp. of America were worth $663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Alpine Woods Capital Investors LLC grew its stake in shares of Laboratory Corp. of America by 2.7% in the 1st quarter. Alpine Woods Capital Investors LLC now owns 11,440 shares of the medical research company’s stock valued at $1,750,000 after buying an additional 304 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Laboratory Corp. of America by 9.8% in the 1st quarter. CIBC Asset Management Inc now owns 14,705 shares of the medical research company’s stock valued at $2,250,000 after buying an additional 1,318 shares in the last quarter. Iridian Asset Management LLC CT grew its stake in shares of Laboratory Corp. of America by 30.0% in the 1st quarter. Iridian Asset Management LLC CT now owns 937,092 shares of the medical research company’s stock valued at $143,356,000 after buying an additional 216,449 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Laboratory Corp. of America by 13.0% in the 1st quarter. Teacher Retirement System of Texas now owns 415,898 shares of the medical research company’s stock valued at $63,624,000 after buying an additional 47,761 shares in the last quarter. Finally, Dean Capital Investments Management LLC bought a new stake in shares of Laboratory Corp. of America in the 1st quarter valued at approximately $470,000. Hedge funds and other institutional investors own 91.26% of the company’s stock.

In other news, insider Lisa J. Uthgenannt sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $164.00, for a total transaction of $656,000.00. Following the completion of the transaction, the insider now directly owns 4,638 shares in the company, valued at $760,632. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Sanders Williams sold 500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $162.20, for a total value of $81,100.00. Following the transaction, the director now owns 7,386 shares of the company’s stock, valued at $1,198,009.20. The disclosure for this sale can be found here. Insiders have sold 8,200 shares of company stock valued at $1,352,410 in the last ninety days. Company insiders own 0.74% of the company’s stock.



Several equities research analysts recently commented on LH shares. TheStreet raised Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. UBS Group started coverage on Laboratory Corp. of America in a research note on Thursday, January 17th. They issued a “buy” rating and a $169.00 price target for the company. Jefferies Financial Group raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $154.00 to $190.00 in a research note on Tuesday, April 2nd. Morgan Stanley set a $175.00 price target on Laboratory Corp. of America and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $178.87.

Laboratory Corp. of America stock traded down $1.03 during trading hours on Wednesday, reaching $162.30. 3,767 shares of the company were exchanged, compared to its average volume of 1,019,635. The stock has a market capitalization of $15.96 billion, a P/E ratio of 14.76, a PEG ratio of 1.68 and a beta of 1.15. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.77. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month high of $190.35.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.09. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.78 earnings per share. Sell-side analysts anticipate that Laboratory Corp. of America Holdings will post 11.27 earnings per share for the current year.

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Laboratory Corp. of America Company Profile

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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