US Bancorp DE cut its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 7.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,080 shares of the medical research company’s stock after selling 2,082 shares during the quarter. US Bancorp DE’s holdings in Laboratory Corp. of America were worth $4,338,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. ETF Managers Group LLC grew its stake in Laboratory Corp. of America by 8.1% in the 1st quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock valued at $135,000 after buying an additional 66 shares during the last quarter. Squar Milner Financial Services LLC grew its position in shares of Laboratory Corp. of America by 6.4% during the 2nd quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock worth $188,000 after purchasing an additional 66 shares in the last quarter. Hartford Investment Management Co. grew its position in shares of Laboratory Corp. of America by 0.3% during the 2nd quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock worth $3,567,000 after purchasing an additional 67 shares in the last quarter. Diversified Trust Co grew its position in shares of Laboratory Corp. of America by 4.1% during the 2nd quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock worth $305,000 after purchasing an additional 70 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of 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 worth $894,000 after purchasing an additional 72 shares in the last quarter. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

LH has been the topic of a number of analyst reports. KeyCorp increased their target price on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Morgan Stanley increased their target price on shares of 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. Barclays set a $200.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. Bank of America upgraded shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price on the stock in a research report on Tuesday, July 16th. Finally, Deutsche Bank upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $220.00 in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Laboratory Corp. of America presently has a consensus rating of “Buy” and a consensus price target of $185.91.

In other news, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the completion of the transaction, the director now owns 6,886 shares of the company’s stock, valued at $1,121,798.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,563 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $176.75, for a total transaction of $983,260.25. Following the transaction, the chief financial officer now directly owns 17,059 shares of the company’s stock, valued at approximately $3,015,178.25. The disclosure for this sale can be found here. In the last three months, insiders sold 16,759 shares of company stock valued at $2,894,092. 0.74% of the stock is owned by insiders.

Shares of NYSE LH traded up $1.42 during trading hours on Thursday, hitting $172.67. 11,375 shares of the stock were exchanged, compared to its average volume of 484,806. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.14. The company has a market cap of $16.88 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.78 and a beta of 1.04. The company’s fifty day simple moving average is $167.45 and its two-hundred day simple moving average is $163.60. 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 posted its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted $2.98 EPS. As a group, sell-side analysts expect that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.

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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