Bbva Compass Bancshares Inc. Decreases Position in Laboratory Corporation of America Holdings (LH)

Bbva Compass Bancshares Inc. lowered its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,755 shares of the medical research company’s stock after selling 144 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Laboratory Corporation of America Holdings were worth $1,812,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LH. Parallel Advisors LLC increased its position 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. Indiana Trust & Investment Management CO acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter worth $202,000. Ingalls & Snyder LLC acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter worth $206,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter worth $208,000. Finally, TNB Financial acquired a new position in shares of Laboratory Corporation of America Holdings during the second quarter worth $208,000. Institutional investors and hedge funds own 91.89% of the company’s stock.

Laboratory Corporation of America Holdings (LH) traded down 0.12% during mid-day trading on Friday, reaching $156.21. The company had a trading volume of 441,945 shares. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22. The firm has a 50-day moving average price of $155.35 and a 200 day moving average price of $144.27. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 21.88 and a beta of 0.94.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.47 billion. During the same quarter last year, the firm posted $2.36 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

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A number of equities analysts have weighed in on LH shares. Zacks Investment Research downgraded Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. BidaskClub raised Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. ValuEngine downgraded 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 issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Finally, Jefferies Group LLC decreased their target price on 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, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Laboratory Corporation of America Holdings presently has an average rating of “Buy” and an average target price of $159.00.

In other news, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now owns 18,122 shares of the company’s stock, valued at approximately $2,889,734.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,581 shares of company stock worth $2,256,899. Insiders own 0.90% of the company’s stock.

About Laboratory Corporation of America Holdings

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).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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