Laboratory Corp. of America Holdings (NYSE:LH) Shares Sold by Argent Trust Co

Argent Trust Co reduced its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 15.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,731 shares of the medical research company’s stock after selling 311 shares during the quarter. Argent Trust Co’s holdings in Laboratory Corp. of America were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Valeo Financial Advisors LLC purchased a new stake in shares of Laboratory Corp. of America in the 3rd quarter worth about $444,000. Cubist Systematic Strategies LLC grew its position in Laboratory Corp. of America by 233.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,599 shares of the medical research company’s stock valued at $1,600,000 after purchasing an additional 7,417 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new stake in Laboratory Corp. of America during the 4th quarter valued at about $2,208,000. Lazard Asset Management LLC grew its position in Laboratory Corp. of America by 0.3% during the 4th quarter. Lazard Asset Management LLC now owns 220,458 shares of the medical research company’s stock valued at $35,165,000 after purchasing an additional 618 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its position in Laboratory Corp. of America by 5.4% during the 3rd quarter. MUFG Americas Holdings Corp now owns 18,857 shares of the medical research company’s stock valued at $2,847,000 after purchasing an additional 966 shares during the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

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In related news, CEO David P. King sold 49,967 shares of the firm’s stock in a transaction on Friday, March 23rd. The shares were sold at an average price of $164.75, for a total value of $8,232,063.25. Following the completion of the transaction, the chief executive officer now directly owns 231,202 shares of the company’s stock, valued at $38,090,529.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Adam H. Schechter sold 1,263 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $169.29, for a total transaction of $213,813.27. Following the completion of the transaction, the director now directly owns 7,297 shares of the company’s stock, valued at $1,235,309.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,630 shares of company stock worth $9,851,701. Company insiders own 0.90% of the company’s stock.

NYSE LH traded down $3.41 on Friday, reaching $161.65. 688,500 shares of the stock were exchanged, compared to its average volume of 666,611. Laboratory Corp. of America Holdings has a one year low of $134.19 and a one year high of $181.71. The stock has a market cap of $16,819.61, a price-to-earnings ratio of 16.84, a PEG ratio of 1.39 and a beta of 0.94. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.93.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.07. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Laboratory Corp. of America had a net margin of 12.15% and a return on equity of 16.30%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.15 EPS. sell-side analysts forecast that Laboratory Corp. of America Holdings will post 11.55 EPS for the current year.

Several analysts recently commented on LH shares. Barclays reissued a “buy” rating and set a $195.00 price objective on shares of Laboratory Corp. of America in a research report on Wednesday, December 13th. Zacks Investment Research raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Friday, February 9th. Craig Hallum reaffirmed a “buy” rating and set a $204.00 price target (up previously from $180.00) on shares of Laboratory Corp. of America in a report on Wednesday, February 7th. ValuEngine raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Goldman Sachs assumed coverage on shares of Laboratory Corp. of America in a report on Monday, January 29th. They set a “buy” rating and a $205.00 price target on the stock. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $189.19.

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About Laboratory Corp. of America

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 Corp. of America (NYSE:LH)

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