Rampart Investment Management Company LLC Sells 86 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Rampart Investment Management Company LLC lowered its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 7.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,144 shares of the medical research company’s stock after selling 86 shares during the period. Rampart Investment Management Company LLC’s holdings in Laboratory Corp. of America were worth $198,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Laboratory Corp. of America by 2.6% during the first quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock worth $1,534,283,000 after buying an additional 257,173 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Laboratory Corp. of America by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 1,615,327 shares of the medical research company’s stock worth $276,172,000 after buying an additional 38,691 shares during the last quarter. FMR LLC raised its stake in Laboratory Corp. of America by 81.4% during the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock worth $244,257,000 after buying an additional 716,703 shares during the last quarter. Geode Capital Management LLC raised its stake in Laboratory Corp. of America by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 1,412,093 shares of the medical research company’s stock worth $178,140,000 after buying an additional 111,859 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Laboratory Corp. of America by 17.5% during the first quarter. Lazard Asset Management LLC now owns 1,137,166 shares of the medical research company’s stock worth $173,963,000 after buying an additional 169,233 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Bank of America raised shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price for the company in a research note on Tuesday, July 16th. Deutsche Bank raised shares of 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 research note on Thursday, June 20th. KeyCorp lifted their target price on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Morgan Stanley lifted their target price on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Barclays set a $200.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Laboratory Corp. of America presently has a consensus rating of “Buy” and an average price target of $185.91.

In other news, SVP Der Vaart Sandra D. Van sold 2,328 shares of Laboratory Corp. of America stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $176.75, for a total transaction of $411,474.00. Following the completion of the transaction, the senior vice president now directly owns 2,328 shares in the company, valued at $411,474. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Sanders Williams sold 500 shares of Laboratory Corp. of America stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the transaction, the director now owns 6,886 shares of the company’s stock, valued at $1,121,798.26. The disclosure for this sale can be found here. Insiders sold 16,759 shares of company stock valued at $2,894,092 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.

NYSE:LH traded up $1.58 during trading hours on Friday, reaching $172.69. The company had a trading volume of 512,542 shares, compared to its average volume of 472,788. 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 firm has a market cap of $16.73 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.76 and a beta of 1.04. The business’s 50-day simple moving average is $167.63 and its two-hundred day simple moving average is $163.84. Laboratory Corp. of America Holdings has a twelve month low of $119.38 and a twelve month high of $178.44.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $2.98 earnings per share. As a group, equities analysts predict that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current year.

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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