Webster Bank N. A. Raises Stock Position in Laboratory Corp. of America Holdings (NYSE:LH)

Webster Bank N. A. grew its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 23,172 shares of the medical research company’s stock after purchasing an additional 104 shares during the quarter. Webster Bank N. A.’s holdings in Laboratory Corp. of America were worth $3,893,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Squar Milner Financial Services LLC boosted its stake in shares of Laboratory Corp. of America by 6.4% during the second quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock valued at $188,000 after acquiring an additional 66 shares during the last quarter. Hartford Investment Management Co. boosted its stake in Laboratory Corp. of America by 0.3% in the 2nd quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock worth $3,567,000 after buying an additional 67 shares during the last quarter. Diversified Trust Co boosted its stake in Laboratory Corp. of America by 4.1% in the 2nd quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock worth $305,000 after buying an additional 70 shares during the last quarter. Private Trust Co. NA boosted its stake in Laboratory Corp. of America by 1.4% in the 2nd quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock worth $894,000 after buying an additional 72 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Laboratory Corp. of America by 1.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,827 shares of the medical research company’s stock worth $1,197,000 after buying an additional 74 shares during the last quarter. Institutional investors own 90.19% of the company’s stock.

A number of analysts have issued reports on LH shares. Morgan Stanley raised their price target on Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Deutsche Bank raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $220.00 in a research note on Thursday, June 20th. KeyCorp raised their price target on Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Barclays set a $200.00 price target on Laboratory Corp. of America and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Bank of America raised Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target on the stock in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $185.91.

Shares of Laboratory Corp. of America stock traded down $1.99 during trading hours on Thursday, reaching $162.45. The stock had a trading volume of 34,291 shares, compared to its average volume of 541,783. The firm has a 50 day simple moving average of $168.72 and a two-hundred day simple moving average of $165.03. The firm has a market capitalization of $16.41 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.88 and a beta of 1.03. 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 Holdings has a 1 year low of $119.38 and a 1 year high of $178.44.

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

In related news, SVP Der Vaart Sandra D. Van sold 2,328 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $176.75, for a total transaction of $411,474.00. Following the sale, the senior vice president now directly owns 2,328 shares in the company, valued at approximately $411,474. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 2,600 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.85, for a total value of $446,810.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,359 shares of company stock worth $3,340,902. Company insiders own 0.74% of the company’s stock.

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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