CrestPoint Capital Management LLC continued to hold its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,600 shares of the medical research company’s stock at the end of the second quarter. CrestPoint Capital Management LLC’s holdings in Laboratory Corporation of America Holdings were worth $555,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Forte Capital LLC ADV raised its position in shares of Laboratory Corporation of America Holdings by 4.7% in the first quarter. Forte Capital LLC ADV now owns 30,156 shares of the medical research company’s stock valued at $4,326,000 after buying an additional 1,340 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Laboratory Corporation of America Holdings by 29.0% in the first quarter. Raymond James Trust N.A. now owns 3,115 shares of the medical research company’s stock valued at $447,000 after buying an additional 701 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at about $202,000. Chevy Chase Trust Holdings Inc. raised its position in shares of Laboratory Corporation of America Holdings by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 168,164 shares of the medical research company’s stock valued at $24,123,000 after buying an additional 4,952 shares in the last quarter. Finally, Moreno Evelyn V raised its position in shares of Laboratory Corporation of America Holdings by 10.0% in the first quarter. Moreno Evelyn V now owns 5,915 shares of the medical research company’s stock valued at $849,000 after buying an additional 540 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Laboratory Corporation of America Holdings (LH) traded down 0.02% on Friday, hitting $160.07. 622,938 shares of the company were exchanged. The stock has a market capitalization of $16.39 billion, a P/E ratio of 22.42 and a beta of 0.93. The company has a 50 day moving average price of $150.88 and a 200-day moving average price of $142.56. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $164.22.
Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. Laboratory Corporation of America Holdings’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.36 EPS. On average, equities analysts expect that Laboratory Corporation of America Holdings will post $9.47 earnings per share for the current fiscal year.
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Several research analysts recently issued reports on the stock. Craig Hallum reissued a “buy” rating and set a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays PLC increased their target price on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday. Credit Suisse Group lowered shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective on the stock. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $158.42.
In other Laboratory Corporation of America Holdings news, SVP Lance Berberian sold 3,613 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $139.84, for a total transaction of $505,241.92. Following the transaction, the senior vice president now owns 5,789 shares in the company, valued at approximately $809,533.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean-Luc Belingard sold 992 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total transaction of $141,052.48. Following the completion of the transaction, the director now owns 32,935 shares in the company, valued at approximately $4,683,027.65. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
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).
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