Laboratory Corporation of America Holdings (LH) Stake Reduced by BKD Wealth Advisors LLC

BKD Wealth Advisors LLC reduced its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 14,181 shares of the medical research company’s stock after selling 41 shares during the period. BKD Wealth Advisors LLC’s holdings in Laboratory Corporation of America Holdings were worth $2,186,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Xact Kapitalforvaltning AB increased its stake in shares of Laboratory Corporation of America Holdings by 1.1% in the second quarter. Xact Kapitalforvaltning AB now owns 13,153 shares of the medical research company’s stock worth $2,027,000 after buying an additional 149 shares in the last quarter. Catawba Capital Management VA increased its stake in shares of Laboratory Corporation of America Holdings by 1.7% in the second quarter. Catawba Capital Management VA now owns 26,108 shares of the medical research company’s stock worth $4,024,000 after buying an additional 430 shares in the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of Laboratory Corporation of America Holdings by 0.5% in the first quarter. Stonebridge Capital Advisors LLC now owns 19,755 shares of the medical research company’s stock worth $2,834,000 after buying an additional 90 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in shares of Laboratory Corporation of America Holdings during the first quarter worth $2,959,000. Finally, Bank of Nova Scotia increased its stake in shares of Laboratory Corporation of America Holdings by 926.8% in the first quarter. Bank of Nova Scotia now owns 23,422 shares of the medical research company’s stock worth $3,361,000 after buying an additional 21,141 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded up 0.10% during mid-day trading on Monday, reaching $151.60. 281,309 shares of the company’s stock traded hands. The company has a 50 day moving average of $142.43 and a 200 day moving average of $138.87. The company has a market cap of $15.51 billion, a price-to-earnings ratio of 20.83 and a beta of 0.93. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $154.82.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Tuesday, April 25th. The medical research company reported $2.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.19 by $0.03. Laboratory Corporation of America Holdings had a return on equity of 16.99% and a net margin of 7.76%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Laboratory Corporation of America Holdings will post $9.43 earnings per share for the current fiscal year.

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LH has been the topic of a number of analyst reports. Credit Suisse Group reiterated a “buy” rating and issued a $146.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Jefferies Group LLC cut their price target on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. BidaskClub upgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. Finally, ValuEngine downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $155.75.

In other news, Director Jean-Luc Belingard sold 992 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total transaction of $141,052.48. Following the transaction, the director now directly owns 32,935 shares of the company’s stock, valued at $4,683,027.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lance Berberian sold 3,613 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the transaction, the senior vice president now directly owns 5,789 shares in the company, valued at $809,533.76. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

About Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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