Insider Selling: Laboratory Corp. of America Holdings (LH) Director Sells 3,700 Shares of Stock

Laboratory Corp. of America Holdings (NYSE:LH) Director Kerrii B. Anderson sold 3,700 shares of the stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the sale, the director now directly owns 21,795 shares in the company, valued at approximately $3,558,905.55. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Shares of NYSE:LH traded up $5.07 on Wednesday, hitting $169.80. The company’s stock had a trading volume of 22,293 shares, compared to its average volume of 926,956. Laboratory Corp. of America Holdings has a 1 year low of $147.70 and a 1 year high of $190.35. The stock has a market cap of $16.39 billion, a P/E ratio of 17.63, a PEG ratio of 1.54 and a beta of 1.00. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the business earned $2.46 EPS. The business’s revenue was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Laboratory Corp. of America Holdings will post 11.33 EPS for the current fiscal year.

A number of analysts recently issued reports on LH shares. Canaccord Genuity reissued a “buy” rating and set a $200.00 price objective on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. SunTrust Banks reissued a “buy” rating and set a $220.00 price objective on shares of Laboratory Corp. of America in a report on Friday, July 20th. Argus reissued a “buy” rating on shares of Laboratory Corp. of America in a report on Wednesday, August 22nd. Morgan Stanley increased their price objective on Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Monday, September 10th. Finally, Craig Hallum dropped their price objective on Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating on the stock in a report on Wednesday, October 3rd. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $192.19.

Large investors have recently added to or reduced their stakes in the business. Legacy Financial Advisors Inc. increased its position in shares of Laboratory Corp. of America by 763.9% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock valued at $108,000 after purchasing an additional 550 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Laboratory Corp. of America by 7,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 633 shares during the last quarter. Fort L.P. bought a new position in shares of Laboratory Corp. of America during the 2nd quarter valued at about $118,000. Squar Milner Financial Services LLC bought a new position in shares of Laboratory Corp. of America during the 2nd quarter valued at about $150,000. Finally, NuWave Investment Management LLC increased its position in shares of Laboratory Corp. of America by 5,786.7% during the 3rd quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock valued at $154,000 after purchasing an additional 868 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

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About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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