Laboratory Corporation of America Holdings (LH) Shares Bought by Sandy Spring Bank

Sandy Spring Bank boosted its position in Laboratory Corporation of America Holdings (NYSE:LH) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,958 shares of the medical research company’s stock after buying an additional 490 shares during the quarter. Sandy Spring Bank’s holdings in Laboratory Corporation of America Holdings were worth $4,309,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LH. UBS Asset Management Americas Inc. grew its position in Laboratory Corporation of America Holdings by 1.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 905,278 shares of the medical research company’s stock worth $129,880,000 after purchasing an additional 15,137 shares during the last quarter. Gabelli Funds LLC grew its position in Laboratory Corporation of America Holdings by 2.2% in the 1st quarter. Gabelli Funds LLC now owns 47,200 shares of the medical research company’s stock worth $6,772,000 after purchasing an additional 1,000 shares during the last quarter. DE Burlo Group Inc. acquired a new stake in Laboratory Corporation of America Holdings in the 1st quarter worth $4,777,000. Karp Capital Management Corp acquired a new stake in Laboratory Corporation of America Holdings in the 1st quarter worth $6,051,000. Finally, Endurance Wealth Management Inc. grew its position in Laboratory Corporation of America Holdings by 0.7% in the 1st quarter. Endurance Wealth Management Inc. now owns 1,510 shares of the medical research company’s stock worth $217,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

In related news, CFO Glenn A. Eisenberg sold 5,968 shares of the company’s stock in a transaction dated 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 directly owns 18,122 shares in the company, valued at $2,889,734.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David P. King sold 44,687 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders sold 222,968 shares of company stock worth $34,980,922 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

Shares of Laboratory Corporation of America Holdings (LH) traded down 0.32% during mid-day trading on Friday, hitting $153.60. 797,858 shares of the stock traded hands. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The firm has a market capitalization of $15.64 billion, a P/E ratio of 21.51 and a beta of 0.94. The company’s 50 day moving average is $156.60 and its 200 day moving average is $147.65.

Laboratory Corporation of America Holdings (NYSE:LH) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the company posted $2.36 earnings per share. Laboratory Corporation of America Holdings’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Laboratory Corporation of America Holdings will post $9.54 EPS for the current fiscal year.

Several analysts have issued reports on LH shares. Credit Suisse Group restated 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. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. BidaskClub lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Barclays PLC restated an “overweight” rating and issued a $182.00 price target (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Monday, July 17th. Finally, Craig Hallum restated 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $164.00.

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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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