Seeyond Has $947,000 Holdings in Laboratory Corp. of America Holdings (NYSE:LH)

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Seeyond reduced its position in Laboratory Corp. of America Holdings (NYSE:LH) by 37.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,478 shares of the medical research company’s stock after selling 3,240 shares during the period. Seeyond’s holdings in Laboratory Corp. of America were worth $947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC lifted its holdings in Laboratory Corp. of America by 8.1% during the first quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock worth $135,000 after acquiring an additional 66 shares in the last quarter. Squar Milner Financial Services LLC lifted its holdings in Laboratory Corp. of America by 6.4% during the second quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock worth $188,000 after acquiring an additional 66 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in Laboratory Corp. of America by 0.3% during the second quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock worth $3,567,000 after acquiring an additional 67 shares in the last quarter. Diversified Trust Co lifted its holdings in Laboratory Corp. of America by 4.1% during the second quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock worth $305,000 after acquiring an additional 70 shares in the last quarter. Finally, Private Trust Co. NA lifted its holdings in Laboratory Corp. of America by 1.4% during the second quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock worth $894,000 after acquiring an additional 72 shares in the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on LH. Barclays set a $200.00 target price on Laboratory Corp. of America and gave the stock a “buy” rating in a report on Monday, July 15th. Deutsche Bank upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $220.00 in a report on Thursday, June 20th. Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Thursday, May 16th. Bank of America upgraded Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price on the stock in a report on Tuesday, July 16th. Finally, Mizuho lifted their target price on Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Laboratory Corp. of America presently has an average rating of “Buy” and an average price target of $185.91.

Shares of NYSE:LH traded down $0.28 during midday trading on Friday, reaching $172.52. The company had a trading volume of 11,342 shares, compared to its average volume of 500,571. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average price is $167.18 and its 200 day moving average price is $162.88. The stock has a market cap of $16.97 billion, a PE ratio of 15.68, a P/E/G ratio of 1.79 and a beta of 1.04. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $178.44.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. Laboratory Corp. of America’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.98 earnings per share. On average, research analysts expect that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current fiscal year.

In other Laboratory Corp. of America news, insider Lisa J. Uthgenannt sold 2,466 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $168.59, for a total transaction of $415,742.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R Sanders Williams sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $162.91, for a total value of $81,455.00. Following the transaction, the director now directly owns 6,886 shares in the company, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,859 shares of company stock worth $3,421,092. 0.74% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

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