Stearns Financial Services Group Has $211,000 Stake in Laboratory Corporation of America Holdings (NYSE:LH)

Stearns Financial Services Group cut its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 9.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,367 shares of the medical research company’s stock after selling 150 shares during the period. Stearns Financial Services Group’s holdings in Laboratory Corporation of America Holdings were worth $211,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LH. Parallel Advisors LLC boosted its stake in shares of Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock worth $177,000 after buying an additional 997 shares during the period. IFP Advisors Inc boosted its stake in shares of Laboratory Corporation of America Holdings by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after buying an additional 523 shares during the period. Ingalls & Snyder LLC purchased a new stake in shares of Laboratory Corporation of America Holdings during the first quarter worth approximately $206,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Laboratory Corporation of America Holdings during the first quarter worth approximately $208,000. Finally, TNB Financial purchased a new stake in shares of Laboratory Corporation of America Holdings during the second quarter worth approximately $208,000. 91.89% of the stock is currently owned by institutional investors.

Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 157.75 on Thursday. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 22.09 and a beta of 0.94. The company has a 50 day moving average of $154.89 and a 200-day moving average of $144.02. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm posted $2.36 earnings per share. Laboratory Corporation of America Holdings’s quarterly revenue was up 4.9% on a year-over-year basis. Analysts predict that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

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LH has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. ValuEngine cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Credit Suisse Group reaffirmed a “buy” rating and set a $146.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Finally, Jefferies Group LLC cut their price target on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $158.42.

In related news, SVP Lance Berberian sold 3,613 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $139.84, for a total transaction of $505,241.92. Following the sale, the senior vice president now owns 5,789 shares of the company’s stock, valued at $809,533.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total transaction of $951,657.28. Following the sale, the chief financial officer now directly owns 18,122 shares in the company, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. Insiders have sold 14,581 shares of company stock worth $2,256,899 in the last three months. 0.90% of the stock is currently owned by insiders.

Laboratory Corporation of America Holdings Company Profile

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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