Sentry Investment Management LLC Decreases Position in Laboratory Corp. of America Holdings (LH)

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Sentry Investment Management LLC trimmed its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,658 shares of the medical research company’s stock after selling 690 shares during the period. Sentry Investment Management LLC’s holdings in Laboratory Corp. of America were worth $3,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brandes Investment Partners LP increased its stake in shares of Laboratory Corp. of America by 559.8% during the fourth quarter. Brandes Investment Partners LP now owns 345,870 shares of the medical research company’s stock valued at $43,703,000 after buying an additional 293,453 shares during the period. Stephens Inc. AR increased its stake in shares of Laboratory Corp. of America by 344.4% during the fourth quarter. Stephens Inc. AR now owns 5,799 shares of the medical research company’s stock valued at $733,000 after buying an additional 4,494 shares during the period. Clearstead Advisors LLC purchased a new position in shares of Laboratory Corp. of America during the fourth quarter valued at approximately $203,000. SP Asset Management increased its stake in shares of Laboratory Corp. of America by 3.7% during the fourth quarter. SP Asset Management now owns 21,845 shares of the medical research company’s stock valued at $2,646,000 after buying an additional 785 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Laboratory Corp. of America by 6.9% during the fourth quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock valued at $1,234,806,000 after buying an additional 633,105 shares during the period. 88.71% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on LH shares. Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Goldman Sachs Group lowered Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and dropped their price target for the company from $190.00 to $180.00 in a research report on Friday, November 30th. ValuEngine downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Canaccord Genuity reissued a “hold” rating and issued a $155.00 target price (down from $162.00) on shares of Laboratory Corp. of America in a report on Sunday, December 2nd. Finally, Craig Hallum downgraded Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Laboratory Corp. of America presently has a consensus rating of “Hold” and a consensus price target of $176.07.

In related news, Director R Sanders Williams sold 1,038 shares of the stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total transaction of $152,586.00. Following the completion of the transaction, the director now directly owns 8,924 shares of the company’s stock, valued at $1,311,828. The sale was disclosed in a filing with the SEC, which is available through this link. 0.73% of the stock is currently owned by corporate insiders.

Shares of NYSE LH traded up $1.06 during mid-day trading on Thursday, reaching $148.18. The company’s stock had a trading volume of 83,476 shares, compared to its average volume of 814,679. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The company has a quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.87. Laboratory Corp. of America Holdings has a 52 week low of $119.38 and a 52 week high of $190.35.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Laboratory Corp. of America Holdings will post 11.22 EPS for the current fiscal year.

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About Laboratory Corp. of America

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.

Further Reading: What is a Lock-Up Period?

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

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