Accident Compensation Corp Cuts Holdings in Laboratory Corp. of America Holdings (NYSE:LH)

Accident Compensation Corp lessened its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,795 shares of the medical research company’s stock after selling 1,086 shares during the quarter. Laboratory Corp. of America comprises approximately 1.7% of Accident Compensation Corp’s portfolio, making the stock its 17th biggest holding. Accident Compensation Corp’s holdings in Laboratory Corp. of America were worth $6,547,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Teacher Retirement System of Texas boosted its position in Laboratory Corp. of America by 13.0% during the first quarter. Teacher Retirement System of Texas now owns 415,898 shares of the medical research company’s stock worth $63,624,000 after purchasing an additional 47,761 shares during the period. Commonwealth Bank of Australia boosted its position in Laboratory Corp. of America by 21.3% during the fourth quarter. Commonwealth Bank of Australia now owns 10,902 shares of the medical research company’s stock worth $1,373,000 after purchasing an additional 1,911 shares during the period. Norges Bank bought a new position in Laboratory Corp. of America during the fourth quarter worth about $120,695,000. BRYN MAWR TRUST Co boosted its position in Laboratory Corp. of America by 8.1% during the fourth quarter. BRYN MAWR TRUST Co now owns 35,695 shares of the medical research company’s stock worth $4,510,000 after purchasing an additional 2,666 shares during the period. Finally, Stone Ridge Asset Management LLC boosted its position in Laboratory Corp. of America by 8.7% during the fourth quarter. Stone Ridge Asset Management LLC now owns 5,934 shares of the medical research company’s stock worth $750,000 after purchasing an additional 475 shares during the period. Hedge funds and other institutional investors own 91.56% of the company’s stock.

LH has been the subject of a number of research reports. Mizuho increased their target price on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Thursday, May 16th. UBS Group raised their price objective on shares of Laboratory Corp. of America from $178.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. ValuEngine lowered shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $154.00 to $190.00 in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. Laboratory Corp. of America has a consensus rating of “Hold” and an average price target of $179.33.

In related news, insider Lisa J. Uthgenannt sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $164.00, for a total value of $656,000.00. Following the sale, the insider now directly owns 4,638 shares of the company’s stock, valued at $760,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $162.20, for a total transaction of $81,100.00. Following the completion of the sale, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The disclosure for this sale can be found here. Insiders sold 18,200 shares of company stock worth $3,026,410 over the last ninety days. 0.74% of the stock is currently owned by insiders.

Shares of LH opened at $166.39 on Monday. The company has a market capitalization of $16.39 billion, a P/E ratio of 15.10, a P/E/G ratio of 1.72 and a beta of 1.05. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $190.00.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.09. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. Laboratory Corp. of America’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm posted $2.78 earnings per share. On average, analysts anticipate that Laboratory Corp. of America Holdings will post 11.27 EPS for the current fiscal year.

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About Laboratory Corp. of America

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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