Laboratory Corporation of America Holdings (LH) Shares Sold by Eqis Capital Management Inc.

Eqis Capital Management Inc. decreased its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 24.2% during the second quarter, Holdings Channel reports. The fund owned 6,054 shares of the medical research company’s stock after selling 1,932 shares during the period. Eqis Capital Management Inc.’s holdings in Laboratory Corporation of America Holdings were worth $933,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of LH. BlackRock Inc. increased its stake in Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after buying an additional 7,856,297 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Laboratory Corporation of America Holdings by 139.4% in the first quarter. JPMorgan Chase & Co. now owns 677,069 shares of the medical research company’s stock worth $97,139,000 after buying an additional 394,247 shares during the last quarter. Teachers Advisors LLC increased its stake in Laboratory Corporation of America Holdings by 139.9% in the first quarter. Teachers Advisors LLC now owns 445,372 shares of the medical research company’s stock worth $63,898,000 after buying an additional 259,709 shares during the last quarter. Vanguard Group Inc. increased its stake in Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after buying an additional 259,182 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Laboratory Corporation of America Holdings during the first quarter worth about $31,036,000. Institutional investors own 91.09% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 153.30 on Monday. The firm has a 50-day moving average of $142.43 and a 200 day moving average of $138.87. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $154.82. The stock has a market capitalization of $15.68 billion, a PE ratio of 21.06 and a beta of 0.93.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Tuesday, April 25th. The medical research company reported $2.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.03. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.41 billion. Laboratory Corporation of America Holdings had a net margin of 7.76% and a return on equity of 16.99%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.02 EPS. On average, equities analysts anticipate that Laboratory Corporation of America Holdings will post $9.43 earnings per share for the current fiscal year.

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LH has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. ValuEngine downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Credit Suisse Group restated a “buy” rating and set a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Jefferies Group LLC cut their price objective on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Finally, BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $154.35.

In related news, Director Jean-Luc Belingard sold 992 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $142.19, for a total value of $141,052.48. Following the completion of the sale, the director now owns 32,935 shares in the company, valued at approximately $4,683,027.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Lance Berberian sold 3,613 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $139.84, for a total transaction of $505,241.92. Following the completion of the sale, the senior vice president now owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate 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).

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

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