Kerrii B. Anderson Sells 3,700 Shares of Laboratory Corp. of America Holdings (LH) Stock

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

Shares of LH traded down $0.78 during midday trading on Thursday, reaching $170.21. The stock had a trading volume of 23,696 shares, compared to its average volume of 917,504. Laboratory Corp. of America Holdings has a 52 week low of $147.70 and a 52 week high of $190.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.44 and a current ratio of 1.55. The company has a market capitalization of $16.62 billion, a PE ratio of 17.86, a P/E/G ratio of 1.56 and a beta of 1.00.

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

LH has been the subject of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $200.00 price target on shares of Laboratory Corp. of America in a research report on Tuesday, July 24th. SunTrust Banks reiterated a “buy” rating and set a $220.00 price target on shares of Laboratory Corp. of America in a research report on Friday, July 20th. Argus reiterated a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, August 22nd. Morgan Stanley boosted their price objective on Laboratory Corp. of America from $192.00 to $202.00 and gave the stock a “buy” rating in a research note 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 research note on Wednesday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $192.19.

Institutional investors and hedge funds have recently bought and sold shares of the company. Legacy Financial Advisors Inc. raised its position in shares of Laboratory Corp. of America by 763.9% during the third quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock worth $108,000 after purchasing an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Laboratory Corp. of America by 7,033.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock worth $115,000 after purchasing an additional 633 shares during the period. Fort L.P. acquired a new stake in shares of Laboratory Corp. of America during the second quarter worth $118,000. Squar Milner Financial Services LLC acquired a new stake in shares of Laboratory Corp. of America during the second quarter worth $150,000. Finally, NuWave Investment Management LLC raised its position in shares of Laboratory Corp. of America by 5,786.7% during the third quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock worth $154,000 after purchasing an additional 868 shares during the period. 91.99% of the stock is currently owned by 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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Insider Buying and Selling by Quarter for Laboratory Corp. of America (NYSE:LH)

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