Laboratory Corp. of America Holdings (NYSE:LH) Shares Purchased by Sandy Spring Bank

Sandy Spring Bank increased its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,679 shares of the medical research company’s stock after purchasing an additional 99 shares during the period. Sandy Spring Bank’s holdings in Laboratory Corp. of America were worth $5,477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Laboratory Corp. of America by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,460,214 shares of the medical research company’s stock valued at $184,501,000 after purchasing an additional 34,797 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Laboratory Corp. of America by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 1,412,093 shares of the medical research company’s stock valued at $178,140,000 after purchasing an additional 111,859 shares in the last quarter. Chartwell Investment Partners LLC grew its position in shares of Laboratory Corp. of America by 1.1% during the first quarter. Chartwell Investment Partners LLC now owns 12,603 shares of the medical research company’s stock valued at $1,928,000 after purchasing an additional 132 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in Laboratory Corp. of America by 127.0% in the first quarter. Flagship Harbor Advisors LLC now owns 1,010 shares of the medical research company’s stock worth $154,000 after acquiring an additional 565 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. grew its position in Laboratory Corp. of America by 30.7% in the first quarter. Shine Investment Advisory Services Inc. now owns 277 shares of the medical research company’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. 90.78% of the stock is owned by institutional investors.

NYSE LH traded down $0.20 during trading on Wednesday, hitting $163.72. The stock had a trading volume of 104,998 shares, compared to its average volume of 792,920. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.12 and a quick ratio of 1.03. The stock has a market cap of $16.37 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. Laboratory Corp. of America Holdings has a one year low of $119.38 and a one year high of $182.75. The firm’s 50 day moving average price is $170.72.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.98 earnings per share. On average, sell-side analysts expect that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.

In other news, CFO Glenn A. Eisenberg sold 10,000 shares of Laboratory Corp. of America stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the completion of the sale, the chief financial officer now owns 28,366 shares of the company’s stock, valued at $4,748,468.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 500 shares of Laboratory Corp. of America stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the sale, the director now directly owns 6,886 shares of the company’s stock, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. In the last three months, insiders sold 21,491 shares of company stock valued at $3,677,189. 0.74% of the stock is owned by insiders.

Several research firms recently commented on LH. Bank of America upgraded Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target for the company in a research report on Tuesday, July 16th. Canaccord Genuity lifted their price target on Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Barclays set a $200.00 price target on Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. UBS Group lifted their price target on Laboratory Corp. of America from $178.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, ValuEngine upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. Laboratory Corp. of America has an average rating of “Buy” and an average target price of $185.23.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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