Nisa Investment Advisors LLC maintained its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the second quarter, according to its most recent filing with the SEC. The firm owned 42,585 shares of the medical research company’s stock at the end of the second quarter. Nisa Investment Advisors LLC’s holdings in Laboratory Corporation of America Holdings were worth $6,494,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Endurance Wealth Management Inc. boosted its stake in Laboratory Corporation of America Holdings by 0.7% in the first quarter. Endurance Wealth Management Inc. now owns 1,510 shares of the medical research company’s stock worth $217,000 after buying an additional 10 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in Laboratory Corporation of America Holdings by 0.6% in the first quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock worth $346,000 after buying an additional 15 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Laboratory Corporation of America Holdings by 0.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,143 shares of the medical research company’s stock worth $594,000 after buying an additional 31 shares during the last quarter. Intrust Bank NA boosted its stake in Laboratory Corporation of America Holdings by 1.1% in the first quarter. Intrust Bank NA now owns 4,065 shares of the medical research company’s stock worth $583,000 after buying an additional 43 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its stake in Laboratory Corporation of America Holdings by 0.3% in the first quarter. Mason Street Advisors LLC now owns 14,137 shares of the medical research company’s stock worth $2,028,000 after buying an additional 47 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.
Shares of Laboratory Corporation of America Holdings (LH) traded up 0.17% during trading on Tuesday, reaching $156.76. The company had a trading volume of 379,744 shares. The firm has a 50 day moving average price of $155.62 and a 200 day moving average price of $144.75. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22. The company has a market cap of $15.96 billion, a price-to-earnings ratio of 21.96 and a beta of 0.94.
Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current year.
A number of research firms recently issued reports on LH. Barclays PLC lifted their price objective on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Zacks Investment Research raised Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Credit Suisse Group AG cut Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target for the company. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $179.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Seven equities research 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 company. The stock has a consensus rating of “Buy” and an average target price of $159.00.
In related news, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Lance Berberian sold 3,613 shares of the stock in a transaction on 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 directly owns 5,789 shares in the company, valued at approximately $809,533.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,681 shares of company stock worth $2,743,227. 0.90% of the stock is owned by insiders.
About Laboratory Corporation of America Holdings
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).
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.
