Boston Advisors LLC cut its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 75.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,304 shares of the medical research company’s stock after selling 79,690 shares during the period. Boston Advisors LLC’s holdings in Laboratory Corporation of America Holdings were worth $4,054,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after buying an additional 259,182 shares in the last quarter. BlackRock Inc. increased its position in shares of Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after buying an additional 7,856,297 shares in the last quarter. State Street Corp increased its position in shares of Laboratory Corporation of America Holdings by 2.4% in the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock worth $665,669,000 after buying an additional 109,170 shares in the last quarter. Boston Partners increased its position in shares of Laboratory Corporation of America Holdings by 3.4% in the first quarter. Boston Partners now owns 4,380,234 shares of the medical research company’s stock worth $628,433,000 after buying an additional 142,984 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Laboratory Corporation of America Holdings by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,347,599 shares of the medical research company’s stock worth $193,340,000 after buying an additional 5,743 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.
Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded down 0.42% during trading on Friday, hitting $153.91. The stock had a trading volume of 460,530 shares. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 21.56 and a beta of 0.94. The stock’s 50 day moving average is $155.89 and its 200 day moving average is $145.06. 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 issued its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion during 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%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.36 EPS. On average, equities research analysts expect that Laboratory Corporation of America Holdings will post $9.50 earnings per share for the current fiscal year.
A number of research analysts recently commented on LH shares. Jefferies Group LLC reduced their price target on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating for the company in a report on Friday, April 28th. Credit Suisse Group reaffirmed a “buy” rating and set a $146.00 target price on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. ValuEngine downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. BidaskClub downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Finally, Barclays PLC reissued an “overweight” rating and issued a $182.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, July 17th. Seven 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’s stock. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and an average price target of $159.75.
In related news, CFO Glenn A. Eisenberg sold 5,968 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the sale, the chief financial officer now owns 18,122 shares in the company, valued at approximately $2,889,734.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Lance Berberian sold 3,613 shares of the company’s 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 completion of the sale, the senior vice president now owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The disclosure for this sale can be found here. Insiders have sold a total of 17,681 shares of company stock valued at $2,743,227 in the last quarter. Corporate 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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