Truvvo Partners LLC Takes Position in Laboratory Corp. of America Holdings (NYSE:LH)

Truvvo Partners LLC acquired a new stake in Laboratory Corp. of America Holdings (NYSE:LH) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,328 shares of the medical research company’s stock, valued at approximately $403,000.

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC bought a new position in shares of Laboratory Corp. of America in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. bought a new stake in Laboratory Corp. of America during the second quarter worth approximately $33,000. Legacy Advisors LLC bought a new stake in Laboratory Corp. of America during the second quarter worth approximately $33,000. C M Bidwell & Associates Ltd. boosted its holdings in Laboratory Corp. of America by 1,636.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock worth $33,000 after buying an additional 180 shares in the last quarter. Finally, Private Ocean LLC boosted its holdings in Laboratory Corp. of America by 54.3% during the second quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock worth $36,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 91.17% of the company’s stock.

A number of analysts recently weighed in on LH shares. Deutsche Bank upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $220.00 in a report on Thursday, June 20th. Mizuho raised their target price on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. KeyCorp raised their target price on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Morgan Stanley raised their target price on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Bank of America upgraded shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price for the company in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $185.91.

In related news, CFO Glenn A. Eisenberg sold 5,563 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $176.75, for a total value of $983,260.25. Following the completion of the transaction, the chief financial officer now owns 17,059 shares of the company’s stock, valued at approximately $3,015,178.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Der Vaart Sandra D. Van sold 2,328 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $176.75, for a total transaction of $411,474.00. Following the completion of the transaction, the senior vice president now directly owns 2,328 shares of the company’s stock, valued at approximately $411,474. The disclosure for this sale can be found here. Insiders sold a total of 19,859 shares of company stock valued at $3,421,092 in the last ninety days. Company insiders own 0.74% of the company’s stock.

Laboratory Corp. of America stock traded down $0.64 during midday trading on Friday, reaching $172.16. The stock had a trading volume of 262,729 shares, compared to its average volume of 500,571. The firm’s fifty day simple moving average is $167.18 and its two-hundred day simple moving average is $162.88. Laboratory Corp. of America Holdings has a twelve month low of $119.38 and a twelve month high of $178.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.79 and a beta of 1.04.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business posted $2.98 EPS. The company’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts predict that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.

About Laboratory Corp. of America

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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