SG Americas Securities LLC Sells 9,262 Shares of Laboratory Corp. of America Holdings (LH)

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SG Americas Securities LLC trimmed its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 78.1% during the 1st quarter, HoldingsChannel reports. The fund owned 2,594 shares of the medical research company’s stock after selling 9,262 shares during the period. SG Americas Securities LLC’s holdings in Laboratory Corp. of America were worth $397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teachers Advisors LLC grew its holdings in shares of Laboratory Corp. of America by 2.9% during the 3rd quarter. Teachers Advisors LLC now owns 202,885 shares of the medical research company’s stock valued at $35,237,000 after purchasing an additional 5,791 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of Laboratory Corp. of America by 12.0% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 388,858 shares of the medical research company’s stock valued at $67,537,000 after purchasing an additional 41,616 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Laboratory Corp. of America by 7.2% during the 3rd quarter. Legal & General Group Plc now owns 594,918 shares of the medical research company’s stock valued at $103,275,000 after purchasing an additional 40,015 shares during the last quarter. Morgan Stanley grew its holdings in shares of Laboratory Corp. of America by 30.9% during the 3rd quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock valued at $174,843,000 after purchasing an additional 237,918 shares during the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of Laboratory Corp. of America by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 10,823,667 shares of the medical research company’s stock valued at $1,879,854,000 after purchasing an additional 85,785 shares during the last quarter. 91.57% of the stock is currently owned by institutional investors and hedge funds.

LH opened at $166.80 on Monday. Laboratory Corp. of America Holdings has a fifty-two week low of $119.38 and a fifty-two week high of $190.35. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the firm posted $2.78 EPS. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts forecast that Laboratory Corp. of America Holdings will post 11.27 EPS for the current fiscal year.

In other news, Director R Sanders Williams sold 500 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $162.20, for a total value of $81,100.00. Following the sale, the director now directly owns 7,386 shares of the company’s stock, valued at approximately $1,198,009.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lisa J. Uthgenannt sold 4,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $164.00, for a total transaction of $656,000.00. Following the completion of the sale, the insider now directly owns 4,638 shares in the company, valued at $760,632. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,200 shares of company stock worth $1,352,410. Insiders own 0.74% of the company’s stock.

LH has been the topic of several research reports. TheStreet raised shares of Laboratory Corp. of America from a “c+” rating to a “b-” rating in a report on Friday, May 3rd. Jefferies Financial Group raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $154.00 to $190.00 in a report on Tuesday, April 2nd. UBS Group set a $178.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a report on Friday, February 8th. Morgan Stanley set a $175.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $179.33.

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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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