Laboratory Co. of America Holdings (NYSE:LH) Position Reduced by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 88.5% during the third quarter, Holdings Channel reports. The firm owned 25,962 shares of the medical research company’s stock after selling 199,607 shares during the quarter. Acadian Asset Management LLC’s holdings in Laboratory Co. of America were worth $4,888,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Prospera Financial Services Inc acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $26,000. Hoover Financial Advisors Inc. acquired a new stake in shares of Laboratory Co. of America during the second quarter worth $33,000. Orion Portfolio Solutions LLC raised its holdings in shares of Laboratory Co. of America by 52.0% during the second quarter. Orion Portfolio Solutions LLC now owns 298 shares of the medical research company’s stock worth $50,000 after purchasing an additional 102 shares during the period. NuWave Investment Management LLC raised its holdings in shares of Laboratory Co. of America by 305.3% during the third quarter. NuWave Investment Management LLC now owns 308 shares of the medical research company’s stock worth $58,000 after purchasing an additional 232 shares during the period. Finally, CWM LLC raised its holdings in shares of Laboratory Co. of America by 21.0% during the third quarter. CWM LLC now owns 311 shares of the medical research company’s stock worth $59,000 after purchasing an additional 54 shares during the period. 88.65% of the stock is currently owned by institutional investors.

In other Laboratory Co. of America news, CEO Paul R. Kirchgraber sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $214.14, for a total value of $321,210.00. Following the completion of the transaction, the chief executive officer now directly owns 7,698 shares in the company, valued at $1,648,449.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark S. Schroeder sold 588 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $214.59, for a total transaction of $126,178.92. Following the completion of the transaction, the executive vice president now owns 3,949 shares of the company’s stock, valued at $847,415.91. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

A number of analysts have weighed in on LH shares. ValuEngine cut shares of Laboratory Co. of America from a “sell” rating to a “strong sell” rating in a report on Monday, November 2nd. SunTrust Banks increased their price objective on shares of Laboratory Co. of America from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Laboratory Co. of America from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their price objective on shares of Laboratory Co. of America from $225.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Finally, Jefferies Financial Group increased their price objective on shares of Laboratory Co. of America from $183.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $224.06.

Laboratory Co. of America stock opened at $202.73 on Friday. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.05 and a beta of 1.19. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $200.47 and its two-hundred day moving average price is $183.70. Laboratory Co. of America Holdings has a 52 week low of $98.02 and a 52 week high of $218.77.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Sunday, November 1st. The medical research company reported $8.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.31 by $3.10. Laboratory Co. of America had a net margin of 6.79% and a return on equity of 21.05%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.62 billion. During the same quarter last year, the firm posted $2.90 EPS. The business’s revenue for the quarter was up 33.0% on a year-over-year basis. Research analysts expect that Laboratory Co. of America Holdings will post 19.93 earnings per share for the current fiscal year.

About Laboratory Co. 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 Co. of America (NYSE:LH)

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