Laboratory Corporation of America Holdings (NYSE:LH) Shares Sold by BTIM Corp.

BTIM Corp. decreased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,745 shares of the medical research company’s stock after selling 165 shares during the period. BTIM Corp.’s holdings in Laboratory Corporation of America Holdings were worth $2,889,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock valued at $1,453,393,000 after buying an additional 259,182 shares during the period. BlackRock Inc. boosted its stake in Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock valued at $1,158,430,000 after buying an additional 7,856,297 shares during the period. State Street Corp boosted its stake in Laboratory Corporation of America Holdings by 2.4% in the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock valued at $665,669,000 after buying an additional 109,170 shares during the period. Boston Partners boosted its stake in Laboratory Corporation of America Holdings by 3.4% in the first quarter. Boston Partners now owns 4,380,234 shares of the medical research company’s stock valued at $628,433,000 after buying an additional 142,984 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Laboratory Corporation of America Holdings by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,347,599 shares of the medical research company’s stock valued at $193,340,000 after buying an additional 5,743 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded down 0.42% on Friday, hitting $153.91. 460,530 shares of the stock were exchanged. The firm’s 50 day moving average price is $155.89 and its 200 day moving average price is $145.06. The firm has a market cap of $15.67 billion, a price-to-earnings ratio of 21.56 and a beta of 0.94. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period 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. Equities analysts anticipate that Laboratory Corporation of America Holdings will post $9.50 earnings per share for the current year.

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A number of equities research analysts recently weighed in on LH shares. Craig Hallum reissued a “buy” rating and issued a $179.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Credit Suisse Group reissued a “buy” rating and issued a $146.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Morgan Stanley boosted their price target on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Jefferies Group LLC reduced their price target on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Finally, BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Laboratory Corporation of America Holdings has a consensus rating of “Buy” and an average price target of $159.75.

In related news, Director R Sanders Williams sold 3,100 shares of Laboratory Corporation of America Holdings stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $156.88, for a total value of $486,328.00. Following the sale, the director now directly owns 10,073 shares in the company, valued at approximately $1,580,252.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $951,657.28. Following the completion of the sale, the chief financial officer now owns 18,122 shares in the company, valued at $2,889,734.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,681 shares of company stock worth $2,743,227. 0.90% of the stock is currently owned by insiders.

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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