Tocqueville Asset Management L.P. Lowers Position in Laboratory Corp. of America Holdings (LH)

Share on StockTwits

Tocqueville Asset Management L.P. trimmed its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,408 shares of the medical research company’s stock after selling 809 shares during the period. Tocqueville Asset Management L.P.’s holdings in Laboratory Corp. of America were worth $5,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in Laboratory Corp. of America by 0.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 389,086 shares of the medical research company’s stock valued at $69,853,000 after acquiring an additional 3,039 shares during the period. Bank OZK increased its stake in Laboratory Corp. of America by 31.3% during the third quarter. Bank OZK now owns 2,624 shares of the medical research company’s stock valued at $456,000 after acquiring an additional 625 shares during the period. Polaris Greystone Financial Group LLC bought a new position in Laboratory Corp. of America during the third quarter valued at about $3,967,000. Lee Financial Group Hawaii Inc. increased its stake in Laboratory Corp. of America by 3.5% during the third quarter. Lee Financial Group Hawaii Inc. now owns 16,653 shares of the medical research company’s stock valued at $2,892,000 after acquiring an additional 565 shares during the period. Finally, Homrich & Berg bought a new position in Laboratory Corp. of America during the second quarter valued at about $245,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

LH has been the topic of several research reports. Zacks Investment Research lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. Credit Suisse Group decreased their price objective on Laboratory Corp. of America from $197.00 to $195.00 and set an “outperform” rating on the stock in a report on Tuesday, September 4th. Morgan Stanley lifted their price objective on Laboratory Corp. of America from $192.00 to $202.00 and gave the company a “buy” rating in a report on Monday, September 10th. Citigroup decreased their price objective on Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Laboratory Corp. of America in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $179.69.

NYSE LH opened at $141.96 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.44 and a current ratio of 1.55. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.47 and a beta of 0.99. Laboratory Corp. of America Holdings has a 1-year low of $139.18 and a 1-year high of $190.35.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.14). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.46 earnings per share. On average, sell-side analysts predict that Laboratory Corp. of America Holdings will post 10.99 EPS for the current year.

In other news, Director R Sanders Williams sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the transaction, the director now directly owns 7,886 shares of the company’s stock, valued at approximately $1,278,636.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the transaction, the director now directly owns 21,795 shares in the company, valued at $3,558,905.55. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: “Tocqueville Asset Management L.P. Lowers Position in Laboratory Corp. of America Holdings (LH)” was originally reported by Ticker Report and is owned by of Ticker Report. If you are accessing this article on another publication, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://www.tickerreport.com/banking-finance/4001204/tocqueville-asset-management-l-p-lowers-position-in-laboratory-corp-of-america-holdings-lh.html.

Laboratory Corp. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

Featured Article: What Are Treasury Bonds?

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corp. of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Webster Financial  Upgraded at Sandler O’Neill
Webster Financial Upgraded at Sandler O’Neill
WestRock  Stock Rating Lowered by Goldman Sachs Group
WestRock Stock Rating Lowered by Goldman Sachs Group
Barclays Cuts Prudential  Price Target to GBX 2,104
Barclays Cuts Prudential Price Target to GBX 2,104
Short Interest in Zomedica Pharmaceuticals Corp   Expands By 5.1%
Short Interest in Zomedica Pharmaceuticals Corp Expands By 5.1%
Financial Contrast: Kulicke and Soffa Industries  & Tower Semiconductor
Financial Contrast: Kulicke and Soffa Industries & Tower Semiconductor
HSBC Analysts Give International Consolidated Airlns Grp  a GBX 550 Price Target
HSBC Analysts Give International Consolidated Airlns Grp a GBX 550 Price Target


Leave a Reply

© 2006-2018 Ticker Report