Holderness Investments Co. Has $835,000 Stock Position in Laboratory Corp. of America Holdings (NYSE:LH)

Holderness Investments Co. lifted its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 1.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,827 shares of the medical research company’s stock after buying an additional 75 shares during the quarter. Holderness Investments Co.’s holdings in Laboratory Corp. of America were worth $835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LH. Osborn Williams & Donohoe LLC bought a new position in shares of Laboratory Corp. of America in the first quarter worth $32,000. Steward Partners Investment Advisory LLC bought a new position in Laboratory Corp. of America in the second quarter valued at about $32,000. Legacy Advisors LLC bought a new position in Laboratory Corp. of America in the second quarter valued at about $33,000. Bremer Bank National Association bought a new position in Laboratory Corp. of America in the first quarter valued at about $35,000. Finally, Private Ocean LLC grew its position in Laboratory Corp. of America by 54.3% in the second quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 75 shares during the last quarter. 90.78% of the stock is owned by institutional investors.

LH has been the topic of a number of recent analyst reports. ValuEngine upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. 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 research report on Thursday, May 16th. KeyCorp lifted their target price on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Canaccord Genuity lifted their target price on Laboratory Corp. of America from $155.00 to $165.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Finally, Barclays set a $200.00 target price on Laboratory Corp. of America and gave the company a “buy” rating in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $185.23.

Shares of NYSE:LH traded up $2.52 during midday trading on Friday, hitting $166.15. 613,700 shares of the stock were exchanged, compared to its average volume of 787,606. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.49 and a beta of 1.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.14. The business’s 50-day moving average price is $170.43 and its 200 day moving average price is $160.13. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month high of $182.75.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.98 earnings per share. As a group, sell-side analysts expect that Laboratory Corp. of America Holdings will post 11.28 EPS for the current year.

In other news, SVP Der Vaart Sandra D. Van sold 2,328 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $176.75, for a total transaction of $411,474.00. Following the sale, the senior vice president now directly owns 2,328 shares in the company, valued at $411,474. The transaction was disclosed in a document filed 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 dated Monday, August 5th. The stock was sold at an average price of $162.91, for a total value of $81,455.00. Following the sale, the director now owns 6,886 shares in the company, valued at $1,121,798.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,491 shares of company stock worth $3,677,189. Company insiders own 0.74% of the company’s stock.

About Laboratory Corp. of America

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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