Greenleaf Trust Purchases 407 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Greenleaf Trust lifted its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,468 shares of the medical research company’s stock after purchasing an additional 407 shares during the period. Greenleaf Trust’s holdings in Laboratory Corp. of America were worth $3,885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LH. Shine Investment Advisory Services Inc. increased its stake in Laboratory Corp. of America by 30.7% during the 1st 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 during the period. ETF Managers Group LLC increased its stake in Laboratory Corp. of America by 8.1% during the 1st quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock worth $135,000 after acquiring an additional 66 shares during the period. Diversified Trust Co increased its stake in Laboratory Corp. of America by 4.1% during the 2nd quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock worth $305,000 after acquiring an additional 70 shares during the period. Private Trust Co. NA increased its stake in Laboratory Corp. of America by 1.4% during the 2nd quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock worth $894,000 after acquiring an additional 72 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Laboratory Corp. of America by 1.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,827 shares of the medical research company’s stock worth $1,197,000 after acquiring an additional 74 shares during the period. Institutional investors own 90.94% of the company’s stock.

Shares of LH stock opened at $164.77 on Friday. The firm has a fifty day simple moving average of $171.75. The firm has a market cap of $16.35 billion, a P/E ratio of 14.95, a PEG ratio of 1.51 and a beta of 1.05. Laboratory Corp. of America Holdings has a fifty-two week low of $119.38 and a fifty-two week high of $182.75. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.03 and a current ratio of 1.12.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.03. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $2.98 EPS. Analysts expect that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.

In related news, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $162.20, for a total transaction of $81,100.00. Following the sale, the director now owns 7,386 shares of the company’s stock, valued at approximately $1,198,009.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $167.40, for a total value of $1,674,000.00. Following the sale, the chief financial officer now directly owns 28,366 shares in the company, valued at approximately $4,748,468.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,491 shares of company stock worth $3,676,834. 0.74% of the stock is currently owned by company insiders.

A number of research firms have commented on LH. ValuEngine upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Mizuho raised their price objective on Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. UBS Group raised their price objective on Laboratory Corp. of America from $178.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Canaccord Genuity raised their target price on Laboratory Corp. of America from $155.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Finally, Bank of America raised Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price on the stock in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. Laboratory Corp. of America presently has an average rating of “Buy” and an average price target of $183.54.

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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