Laboratory Corporation of America Holdings (LH) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its position in Laboratory Corporation of America Holdings (NYSE:LH) by 11.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,000 shares of the medical research company’s stock after selling 393 shares during the quarter. Cypress Capital Group’s holdings in Laboratory Corporation of America Holdings were worth $462,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Laboratory Corporation of America Holdings by 2.3% in the second quarter. Vanguard Group Inc. now owns 10,361,891 shares of the medical research company’s stock valued at $1,597,181,000 after acquiring an additional 231,600 shares during the period. BlackRock Inc. lifted its holdings in shares of Laboratory Corporation of America Holdings by 3,602.5% during the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after purchasing an additional 7,856,297 shares during the period. State Street Corp lifted its holdings in shares of Laboratory Corporation of America Holdings by 2.4% during the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock worth $665,669,000 after purchasing an additional 109,170 shares during the period. Boston Partners lifted its holdings in shares of Laboratory Corporation of America Holdings by 4.8% during the second quarter. Boston Partners now owns 4,590,372 shares of the medical research company’s stock worth $707,560,000 after purchasing an additional 210,138 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Laboratory Corporation of America Holdings by 2.0% during the second quarter. Nordea Investment Management AB now owns 2,696,851 shares of the medical research company’s stock worth $415,693,000 after purchasing an additional 54,100 shares during the period. 93.19% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on LH shares. Craig Hallum reaffirmed a “buy” rating and set a $179.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Wells Fargo & Company started coverage on Laboratory Corporation of America Holdings in a report on Thursday. They set an “outperform” rating and a $175.00 price target for the company. Morgan Stanley increased their price target on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. Zacks Investment Research raised Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday. Finally, BidaskClub raised Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $166.33.

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In related news, CEO David P. King sold 44,687 shares of Laboratory Corporation of America Holdings stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Insiders have sold 222,968 shares of company stock valued at $34,980,922 in the last quarter. 0.90% of the stock is currently owned by corporate insiders.

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Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company posted $2.36 earnings per share. Laboratory Corporation of America Holdings’s quarterly revenue was up 4.9% on a year-over-year basis.

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).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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