Laboratory Corp. of America Holdings (NYSE:LH) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 1,590,000 shares, a decrease of 18.5% from the November 14th total of 1,950,000 shares. Based on an average trading volume of 559,100 shares, the short-interest ratio is presently 2.8 days. Currently, 1.7% of the company’s shares are short sold.

LH has been the subject of a number of research reports. Morgan Stanley lifted their price objective on Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. ValuEngine downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Canaccord Genuity reiterated a “hold” rating and set a $170.00 price target on shares of Laboratory Corp. of America in a research note on Thursday, October 24th. UBS Group reduced their price target on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price objective for the company in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $186.13.

In related news, Director Kerrii B. Anderson sold 2,600 shares of Laboratory Corp. of America stock in a transaction that occurred on Monday, September 23rd. The shares were 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 Securities & Exchange Commission, which is available at the SEC website. Also, CEO David P. King sold 30,177 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were 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. Corporate insiders own 0.74% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Financial Advantage Inc. purchased a new stake in shares of Laboratory Corp. of America in the third quarter valued at about $26,000. Steward Partners Investment Advisory LLC acquired a new position in Laboratory Corp. of America in the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. purchased a new stake in Laboratory Corp. of America during the 2nd quarter valued at approximately $33,000. C M Bidwell & Associates Ltd. raised its stake in Laboratory Corp. of America by 1,636.4% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 180 shares during the last quarter. Finally, Rational Advisors LLC lifted its position in Laboratory Corp. of America by 106.2% during the 3rd quarter. Rational Advisors LLC now owns 200 shares of the medical research company’s stock worth $34,000 after acquiring an additional 103 shares during the period. Institutional investors own 90.40% of the company’s stock.

NYSE:LH traded down $2.57 during mid-day trading on Friday, hitting $166.59. The stock had a trading volume of 420,064 shares, compared to its average volume of 579,622. The stock has a 50-day simple moving average of $168.89 and a two-hundred day simple moving average of $168.80. The company has a market capitalization of $16.26 billion, a PE ratio of 15.12, a PEG ratio of 1.54 and a beta of 1.03. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $178.44. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93.

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

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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