Laboratory Corp. of America Holdings (LH) Shares Sold by Quantitative Systematic Strategies LLC

Share on StockTwits

Quantitative Systematic Strategies LLC lowered its position in Laboratory Corp. of America Holdings (NYSE:LH) by 55.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,833 shares of the medical research company’s stock after selling 6,067 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Laboratory Corp. of America were worth $868,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Laboratory Corp. of America by 18.6% during the second quarter. Arizona State Retirement System now owns 85,986 shares of the medical research company’s stock valued at $15,437,000 after acquiring an additional 13,466 shares during the last quarter. Rothschild Asset Management Inc. boosted its stake in shares of Laboratory Corp. of America by 0.9% during the second quarter. Rothschild Asset Management Inc. now owns 313,637 shares of the medical research company’s stock valued at $56,307,000 after acquiring an additional 2,681 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Laboratory Corp. of America by 26.0% during the second quarter. Bellevue Group AG now owns 75,240 shares of the medical research company’s stock valued at $13,508,000 after acquiring an additional 15,510 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Laboratory Corp. of America during the second quarter valued at $246,000. Finally, Greenleaf Trust boosted its stake in shares of Laboratory Corp. of America by 4.5% during the second quarter. Greenleaf Trust now owns 24,005 shares of the medical research company’s stock valued at $4,310,000 after acquiring an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 92.61% of the company’s stock.

A number of analysts recently commented on LH shares. Barclays increased their price objective on Laboratory Corp. of America from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, May 25th. Deutsche Bank lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a research note on Wednesday, June 27th. Zacks Investment Research lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Monday, April 30th. Mizuho reissued a “hold” rating on shares of Laboratory Corp. of America in a research note on Friday, May 25th. Finally, SunTrust Banks reissued a “buy” rating and issued a $220.00 price target on shares of Laboratory Corp. of America in a research note on Friday, July 20th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $195.12.

NYSE LH opened at $182.19 on Monday. The stock has a market capitalization of $18.30 billion, a PE ratio of 18.98, a PEG ratio of 1.73 and a beta of 0.98. Laboratory Corp. of America Holdings has a 1-year low of $146.68 and a 1-year high of $190.35. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.06. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.47 EPS. sell-side analysts expect that Laboratory Corp. of America Holdings will post 11.55 EPS for the current fiscal year.

In other news, CEO M. Huff Gary sold 1,610 shares of Laboratory Corp. of America stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $182.50, for a total value of $293,825.00. Following the transaction, the chief executive officer now directly owns 1,610 shares of the company’s stock, valued at approximately $293,825. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa J. Uthgenannt sold 4,500 shares of Laboratory Corp. of America stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $182.10, for a total value of $819,450.00. Following the completion of the transaction, the insider now directly owns 3,755 shares in the company, valued at $683,785.50. The disclosure for this sale can be found here. Insiders sold a total of 79,076 shares of company stock worth $14,071,462 over the last ninety days. Corporate insiders own 0.73% of the company’s stock.

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: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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.

Leave a Reply