Qube Research & Technologies Ltd reduced its position in Laboratory Corp. of America Holdings (NYSE:LH) by 55.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,587 shares of the medical research company’s stock after selling 1,943 shares during the period. Qube Research & Technologies Ltd’s holdings in Laboratory Corp. of America were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Osborn Williams & Donohoe LLC purchased a new stake in Laboratory Corp. of America in the first quarter valued at $32,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Laboratory Corp. of America during the 2nd quarter worth approximately $32,000. Legacy Advisors LLC acquired a new stake in shares of Laboratory Corp. of America during the 2nd quarter worth approximately $33,000. Bremer Bank National Association acquired a new stake in shares of Laboratory Corp. of America during the 1st quarter worth approximately $35,000. Finally, Private Ocean LLC increased its holdings in shares of Laboratory Corp. of America by 54.3% during the 2nd quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock worth $36,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.

Shares of LH traded up $1.61 during midday trading on Wednesday, reaching $168.62. The stock had a trading volume of 4,028 shares, compared to its average volume of 796,659. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $179.53. The company’s fifty day simple moving average is $169.94 and its two-hundred day simple moving average is $160.37. The company has a market cap of $16.41 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.52 and a beta of 1.05. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data 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. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the business earned $2.98 EPS. The company’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts forecast that Laboratory Corp. of America Holdings will post 11.28 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Barclays set a $200.00 price objective on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. KeyCorp increased their price objective on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. TheStreet raised shares of Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research report on Friday, May 3rd. Zacks Investment Research raised 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. Finally, Citigroup increased their price objective on shares of Laboratory Corp. of America from $157.00 to $176.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $185.23.

In related news, SVP Der Vaart Sandra D. Van sold 2,328 shares of Laboratory Corp. of America stock in a transaction on Monday, July 8th. The shares were sold at an average price of $176.75, for a total transaction of $411,474.00. Following the sale, the senior vice president now directly owns 2,328 shares in the company, valued at approximately $411,474. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R Sanders Williams sold 500 shares of Laboratory Corp. of America stock in a transaction on Monday, August 5th. The stock was sold at an average price of $162.91, for a total transaction of $81,455.00. Following the sale, the director now owns 6,886 shares in the company, valued at $1,121,798.26. The disclosure for this sale can be found here. Insiders have sold a total of 21,491 shares of company stock worth $3,677,189 over the last quarter. 0.74% of the stock is owned by company insiders.

Laboratory Corp. of America 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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