John G Ullman & Associates Inc. Sells 134 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

John G Ullman & Associates Inc. trimmed its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,224 shares of the medical research company’s stock after selling 134 shares during the period. John G Ullman & Associates Inc.’s holdings in Laboratory Corp. of America were worth $557,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Laboratory Corp. of America by 13.0% in the 1st quarter. Teacher Retirement System of Texas now owns 415,898 shares of the medical research company’s stock valued at $63,624,000 after acquiring an additional 47,761 shares in the last quarter. ETF Managers Group LLC raised its stake in shares of Laboratory Corp. of America by 8.1% in the 1st quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock valued at $135,000 after acquiring an additional 66 shares in the last quarter. Swiss National Bank raised its stake in shares of Laboratory Corp. of America by 1.9% in the 1st quarter. Swiss National Bank now owns 438,575 shares of the medical research company’s stock valued at $67,093,000 after acquiring an additional 8,300 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Laboratory Corp. of America by 14.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 85,728 shares of the medical research company’s stock valued at $13,085,000 after acquiring an additional 10,882 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC increased its position in Laboratory Corp. of America by 1.7% in the 2nd quarter. Birch Hill Investment Advisors LLC now owns 88,194 shares of the medical research company’s stock worth $15,249,000 after buying an additional 1,515 shares during the period. 90.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of LH traded up $2.52 on Friday, reaching $166.15. 613,700 shares of the stock traded hands, compared to its average volume of 787,606. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.49 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 1.03. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month high of $182.75. The stock’s 50-day moving average price is $170.43 and its 200-day moving average price is $160.13.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. Laboratory Corp. of America’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $2.98 earnings per share. As a group, equities research analysts forecast that Laboratory Corp. of America Holdings will post 11.28 earnings per share for the current fiscal year.

Several brokerages have commented on LH. Citigroup lifted their price target on 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. Canaccord Genuity lifted their price target on Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Bank of America raised Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target on the stock in a research report on Tuesday, July 16th. ValuEngine raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Finally, KeyCorp lifted their price target on 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $185.23.

In other news, CFO Glenn A. Eisenberg sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the sale, the chief financial officer now directly owns 28,366 shares in the company, valued at $4,748,468.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director R Sanders Williams sold 500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $162.91, for a total value of $81,455.00. Following the completion of the sale, the director now directly owns 6,886 shares in the company, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,491 shares of company stock worth $3,677,189. 0.74% of the stock is currently 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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