Jacobs & Co. CA Reduces Stock Position in Laboratory Corp. of America Holdings (NYSE:LH)

Jacobs & Co. CA cut its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,753 shares of the medical research company’s stock after selling 205 shares during the quarter. Jacobs & Co. CA’s holdings in Laboratory Corp. of America were worth $4,662,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LH. Private Trust Co. NA increased its holdings in shares of Laboratory Corp. of America by 1.4% in the 2nd quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock valued at $894,000 after acquiring an additional 72 shares during the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Laboratory Corp. of America by 9.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,368 shares of the medical research company’s stock valued at $236,000 after acquiring an additional 118 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Laboratory Corp. of America by 3.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,061 shares of the medical research company’s stock valued at $2,085,000 after acquiring an additional 439 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Laboratory Corp. of America by 76.9% in the 2nd quarter. Retirement Systems of Alabama now owns 81,197 shares of the medical research company’s stock valued at $14,039,000 after acquiring an additional 35,285 shares during the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in shares of Laboratory Corp. of America by 5.2% in the 2nd quarter. Triangle Securities Wealth Management now owns 3,228 shares of the medical research company’s stock valued at $568,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 90.22% of the company’s stock.

NYSE:LH traded up $2.61 during midday trading on Friday, reaching $168.41. 427,859 shares of the company traded hands, compared to its average volume of 720,532. Laboratory Corp. of America Holdings has a twelve month low of $119.38 and a twelve month high of $178.44. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.17 and a quick ratio of 1.08. The company has a fifty day moving average price of $167.04 and a 200 day moving average price of $167.26.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.85 by $0.05. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the previous year, the firm posted $2.74 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Laboratory Corp. of America Holdings will post 11.26 earnings per share for the current fiscal year.

In other Laboratory Corp. of America news, SVP Lance Berberian sold 5,902 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $169.80, for a total transaction of $1,002,159.60. Following the completion of the transaction, the senior vice president now owns 6,097 shares in the company, valued at approximately $1,035,270.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David P. King sold 30,177 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $165.40, for a total value of $4,991,275.80. The disclosure for this sale can be found here. Insiders have sold a total of 41,145 shares of company stock valued at $6,855,988 in the last quarter. 0.74% of the stock is currently owned by insiders.

LH has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price target for the company in a report on Wednesday, October 9th. UBS Group reduced their price objective on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, October 21st. KeyCorp boosted their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Barclays set a $200.00 price objective on Laboratory Corp. of America and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Canaccord Genuity restated a “hold” rating and set a $170.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $184.90.

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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