Laboratory Corp. of America Holdings (NYSE:LH) Shares Sold by Golub Group LLC

Golub Group LLC lessened its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.3% in the third quarter, Holdings Channel.com reports. The firm owned 268,107 shares of the medical research company’s stock after selling 711 shares during the period. Laboratory Corp. of America comprises 3.6% of Golub Group LLC’s portfolio, making the stock its 9th largest holding. Golub Group LLC’s holdings in Laboratory Corp. of America were worth $45,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. Private Trust Co. NA grew its stake in Laboratory Corp. of America by 1.4% during the 2nd quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock valued at $894,000 after purchasing an additional 72 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in Laboratory Corp. of America by 9.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,368 shares of the medical research company’s stock valued at $236,000 after purchasing an additional 118 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Laboratory Corp. of America by 3.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,061 shares of the medical research company’s stock worth $2,085,000 after acquiring an additional 439 shares in the last quarter. Retirement Systems of Alabama grew its position in shares of Laboratory Corp. of America by 76.9% in the 2nd quarter. Retirement Systems of Alabama now owns 81,197 shares of the medical research company’s stock worth $14,039,000 after acquiring an additional 35,285 shares in the last quarter. Finally, Triangle Securities Wealth Management grew its position in shares of Laboratory Corp. of America by 5.2% in the 2nd quarter. Triangle Securities Wealth Management now owns 3,228 shares of the medical research company’s stock worth $568,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.

Shares of NYSE LH traded up $2.61 during mid-day trading on Friday, hitting $168.41. The company had a trading volume of 427,859 shares, compared to its average volume of 720,532. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.85 and a beta of 1.01. 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 debt-to-equity ratio of 0.93, a current ratio of 1.17 and a quick ratio of 1.08. The firm’s 50 day simple moving average is $167.04 and its two-hundred day simple moving average is $167.26.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.05. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.91 billion. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $2.74 EPS. Equities analysts forecast that Laboratory Corp. of America Holdings will post 11.26 earnings per share for the current year.

Several research analysts have recently commented on the company. Canaccord Genuity reiterated a “hold” rating and issued a $170.00 target price on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. Morgan Stanley lifted their target price on Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group decreased their target price on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Bank of America upgraded Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price for the company in a research report on Tuesday, July 16th. Finally, Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 target price for the company in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $184.90.

In other 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David P. King sold 30,177 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $165.40, for a total value of $4,991,275.80. The disclosure for this sale can be found here. In the last three months, insiders sold 41,145 shares of company stock worth $6,855,988. Company insiders own 0.74% of the company’s stock.

Laboratory Corp. of America 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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