Laboratory Corporation of America Holdings (NYSE:LH) Shares Sold by Smithfield Trust Co.

Smithfield Trust Co. decreased its position in Laboratory Corporation of America Holdings (NYSE:LH) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,083 shares of the medical research company’s stock after selling 124 shares during the period. Smithfield Trust Co.’s holdings in Laboratory Corporation of America Holdings were worth $167,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the company. Parametrica Management Ltd acquired a new stake in Laboratory Corporation of America Holdings during the first quarter valued at $341,000. AMI Asset Management Corp boosted its stake in Laboratory Corporation of America Holdings by 9.9% in the first quarter. AMI Asset Management Corp now owns 264,605 shares of the medical research company’s stock valued at $37,963,000 after buying an additional 23,790 shares during the last quarter. Weybosset Research & Management LLC boosted its stake in Laboratory Corporation of America Holdings by 5.9% in the first quarter. Weybosset Research & Management LLC now owns 27,512 shares of the medical research company’s stock valued at $3,947,000 after buying an additional 1,535 shares during the last quarter. Lathrop Investment Management Corp boosted its stake in Laboratory Corporation of America Holdings by 10.2% in the first quarter. Lathrop Investment Management Corp now owns 90,690 shares of the medical research company’s stock valued at $13,011,000 after buying an additional 8,390 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. boosted its stake in Laboratory Corporation of America Holdings by 5.0% in the first quarter. Ipswich Investment Management Co. Inc. now owns 19,122 shares of the medical research company’s stock valued at $2,743,000 after buying an additional 910 shares during the last quarter. 91.64% of the stock is owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings (NYSE:LH) traded down 0.42% during mid-day trading on Friday, reaching $153.91. The company’s stock had a trading volume of 460,530 shares. The company has a market capitalization of $15.67 billion, a PE ratio of 21.56 and a beta of 0.94. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The firm has a 50 day moving average price of $155.89 and a 200-day moving average price of $145.06.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm earned $2.36 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities analysts predict that Laboratory Corporation of America Holdings will post $9.50 EPS for the current fiscal year.

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Several equities research analysts recently weighed in on the company. Barclays PLC boosted their target price on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Finally, Credit Suisse Group cut Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective for the company. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and a consensus target price of $159.75.

In related news, SVP Lance Berberian sold 3,613 shares of Laboratory Corporation of America Holdings stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the transaction, the chief financial officer now owns 18,122 shares in the company, valued at $2,889,734.12. The disclosure for this sale can be found here. Over the last quarter, 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).

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

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