DekaBank Deutsche Girozentrale lessened its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,030 shares of the medical research company’s stock after selling 2,553 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of Laboratory Corporation of America Holdings worth $9,943,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Acrospire Investment Management LLC grew its holdings in shares of Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 100 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of Laboratory Corporation of America Holdings by 9,200.0% in the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 736 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 523 shares in the last quarter. Hourglass Capital LLC bought a new position in shares of Laboratory Corporation of America Holdings in the 2nd quarter valued at about $200,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Laboratory Corporation of America Holdings in the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.

In other news, insider F Samuel Eberts III sold 31,500 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $155.22, for a total value of $4,889,430.00. Following the completion of the sale, the insider now directly owns 31,894 shares in the company, valued at $4,950,586.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dwight Gary Gilliland sold 971 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now owns 3,501 shares of the company’s stock, valued at $537,473.52. The disclosure for this sale can be found here. Insiders have sold 209,871 shares of company stock valued at $32,892,005 over the last 90 days. Company insiders own 0.90% of the company’s stock.

LH has been the subject of several analyst reports. Craig Hallum restated a “buy” rating and issued a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Robert W. Baird restated a “hold” rating and issued a $166.00 price objective on shares of Laboratory Corporation of America Holdings in a report on Tuesday, October 17th. Wells Fargo & Company assumed coverage on Laboratory Corporation of America Holdings in a report on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Morgan Stanley lifted their price target on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, October 10th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded down $0.66 during mid-day trading on Friday, reaching $150.36. 467,432 shares of the company’s stock traded hands, compared to its average volume of 719,423. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. The firm has a market capitalization of $15,470.00, a P/E ratio of 16.12, a PEG ratio of 1.59 and a beta of 0.87. Laboratory Corporation of America Holdings has a 1 year low of $123.36 and a 1 year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $2.25 earnings per share. research analysts forecast that Laboratory Corporation of America Holdings will post 9.53 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece of content was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/18/dekabank-deutsche-girozentrale-lowers-holdings-in-laboratory-corporation-of-america-holdings-lh.html.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corporation of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

Receive News & Stock Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related stocks with our FREE daily email newsletter.