State Street Corp Cuts Position in Laboratory Co. of America Holdings (NYSE:LH)

State Street Corp decreased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,160,749 shares of the medical research company’s stock after selling 27,067 shares during the quarter. State Street Corp’s holdings in Laboratory Co. of America were worth $783,344,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Prospera Financial Services Inc purchased a new position in Laboratory Co. of America in the third quarter worth $26,000. Hoover Financial Advisors Inc. acquired a new stake in Laboratory Co. of America in the second quarter valued at $33,000. Jaffetilchin Investment Partners LLC acquired a new stake in Laboratory Co. of America in the second quarter valued at $42,000. Orion Portfolio Solutions LLC grew its holdings in Laboratory Co. of America by 52.0% in the second quarter. Orion Portfolio Solutions LLC now owns 298 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 102 shares during the last quarter. Finally, NuWave Investment Management LLC grew its holdings in Laboratory Co. of America by 305.3% in the third quarter. NuWave Investment Management LLC now owns 308 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 88.65% of the company’s stock.

Several research firms have weighed in on LH. Bank of America upped their target price on Laboratory Co. of America from $220.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. TheStreet raised Laboratory Co. of America from a “c” rating to a “b” rating in a report on Tuesday, July 28th. Wells Fargo & Company upped their target price on Laboratory Co. of America from $225.00 to $260.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. SunTrust Banks increased their price objective on Laboratory Co. of America from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Laboratory Co. of America from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $224.06.

Laboratory Co. of America stock opened at $202.73 on Friday. The stock’s 50-day moving average is $200.47 and its 200-day moving average is $183.70. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.19. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.36 and a quick ratio of 1.23. Laboratory Co. of America Holdings has a 12 month low of $98.02 and a 12 month high of $218.77.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Sunday, November 1st. The medical research company reported $8.41 EPS for the quarter, beating the consensus estimate of $5.31 by $3.10. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.62 billion. Laboratory Co. of America had a return on equity of 21.05% and a net margin of 6.79%. The company’s revenue was up 33.0% on a year-over-year basis. During the same period last year, the business posted $2.90 EPS. Research analysts anticipate that Laboratory Co. of America Holdings will post 19.93 EPS for the current year.

In related news, CEO Paul R. Kirchgraber sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $214.14, for a total transaction of $321,210.00. Following the sale, the chief executive officer now directly owns 7,698 shares in the company, valued at approximately $1,648,449.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark S. Schroeder sold 588 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $214.59, for a total value of $126,178.92. Following the sale, the executive vice president now owns 3,949 shares in the company, valued at $847,415.91. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Laboratory Co. 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 Co. of America (NYSE:LH)

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