Laboratory Corporation of America Holdings (LH) Stake Raised by Farmers Trust Co.

Farmers Trust Co. boosted its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 20,310 shares of the medical research company’s stock after buying an additional 615 shares during the period. Farmers Trust Co.’s holdings in Laboratory Corporation of America Holdings were worth $3,130,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock worth $177,000 after buying an additional 997 shares in the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $202,000. Ingalls & Snyder LLC bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $206,000. Oppenheimer Asset Management Inc. bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $208,000. Finally, Sheets Smith Wealth Management bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $215,000. 91.13% of the stock is owned by institutional investors.

Shares of Laboratory Corporation of America Holdings (LH) traded up 0.15% during mid-day trading on Monday, reaching $151.67. The company had a trading volume of 290,466 shares. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $154.82. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 20.84 and a beta of 0.93. The firm’s 50-day moving average price is $142.43 and its 200 day moving average price is $138.87.

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

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

In other Laboratory Corporation of America Holdings news, SVP Lance Berberian sold 3,613 shares of the 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 owns 5,789 shares in the company, valued at $809,533.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jean-Luc Belingard sold 992 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total value of $141,052.48. Following the completion of the transaction, the director now owns 32,935 shares in the company, valued at approximately $4,683,027.65. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

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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