Laboratory Corp. of America Holdings (NYSE:LH) SVP Lance Berberian Sells 5,902 Shares

Laboratory Corp. of America Holdings (NYSE:LH) SVP Lance Berberian sold 5,902 shares of Laboratory Corp. of America stock in a transaction on Friday, August 30th. The shares were sold at an average price of $169.80, for a total value of $1,002,159.60. Following the transaction, the senior vice president now directly owns 6,097 shares of the company’s stock, valued at $1,035,270.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Laboratory Corp. of America stock traded up $0.81 during mid-day trading on Friday, reaching $173.61. The stock had a trading volume of 54,381 shares, compared to its average volume of 500,571. The stock’s 50-day simple moving average is $167.18 and its 200-day simple moving average is $162.88. The firm has a market capitalization of $16.97 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. Laboratory Corp. of America Holdings has a fifty-two week low of $119.38 and a fifty-two week high of $178.44. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.14.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the company posted $2.98 earnings per share. The business’s revenue was up .5% on a year-over-year basis. On average, research analysts forecast that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current fiscal year.

LH has been the subject of a number of research analyst reports. Mizuho lifted their price target on Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Deutsche Bank raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $220.00 in a research report on Thursday, June 20th. Barclays set a $200.00 price target on Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Thursday, May 16th. Finally, KeyCorp upped their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $185.91.

A number of hedge funds have recently bought and sold shares of the stock. Rehmann Capital Advisory Group boosted its stake in Laboratory Corp. of America by 2.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 5,478 shares of the medical research company’s stock valued at $947,000 after purchasing an additional 105 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Laboratory Corp. of America by 1.2% in the 2nd quarter. Toronto Dominion Bank now owns 69,781 shares of the medical research company’s stock worth $12,062,000 after buying an additional 854 shares during the last quarter. Atria Investments LLC boosted its stake in shares of Laboratory Corp. of America by 56.9% in the 2nd quarter. Atria Investments LLC now owns 3,601 shares of the medical research company’s stock worth $590,000 after buying an additional 1,306 shares during the last quarter. Nomura Holdings Inc. raised its holdings in Laboratory Corp. of America by 65.9% during the second quarter. Nomura Holdings Inc. now owns 42,101 shares of the medical research company’s stock valued at $7,346,000 after acquiring an additional 16,729 shares during the period. Finally, Magnetar Financial LLC raised its holdings in Laboratory Corp. of America by 22.9% during the second quarter. Magnetar Financial LLC now owns 58,062 shares of the medical research company’s stock valued at $10,039,000 after acquiring an additional 10,800 shares during the period. 91.17% of the stock is owned by institutional investors.

Laboratory Corp. of America Company 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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Insider Buying and Selling by Quarter for Laboratory Corp. of America (NYSE:LH)

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