Brandes Investment Partners LP reduced its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 36.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 67,876 shares of the medical research company’s stock after selling 38,757 shares during the quarter. Brandes Investment Partners LP owned about 0.07% of Laboratory Corporation of America worth $16,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank lifted its position in Laboratory Corporation of America by 1.9% in the second quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock worth $70,947,000 after buying an additional 8,500 shares during the last quarter. Sentry Investments Corp. lifted its position in shares of Laboratory Corporation of America by 29.6% during the second quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock worth $142,564,000 after purchasing an additional 211,180 shares during the last quarter. Allen Investment Management LLC lifted its position in shares of Laboratory Corporation of America by 13.7% during the second quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock worth $112,953,000 after purchasing an additional 88,564 shares during the last quarter. Taylor Asset Management Inc. lifted its position in shares of Laboratory Corporation of America by 1.8% during the second quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock worth $7,953,000 after purchasing an additional 900 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Laboratory Corporation of America by 2.3% during the second quarter. PNC Financial Services Group Inc. now owns 39,891 shares of the medical research company’s stock worth $6,150,000 after purchasing an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

In other Laboratory Corporation of America news, CEO David P. King sold 44,687 shares of Laboratory Corporation of America stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total value of $7,009,602.82. Following the transaction, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David P. King sold 132,713 shares of Laboratory Corporation of America stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total value of $20,843,903.78. The disclosure for this sale can be found here. Insiders sold 178,371 shares of company stock worth $28,002,575 in the last quarter. 0.90% of the stock is owned by insiders.

Shares of Laboratory Corporation of America Holdings (LH) traded up $5.80 during trading on Thursday, hitting $157.02. The stock had a trading volume of 1,036,300 shares, compared to its average volume of 722,273. The stock has a market capitalization of $15,394.20, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.60 and a beta of 0.87. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.75 and a current ratio of 1.89. Laboratory Corporation of America Holdings has a 1 year low of $123.36 and a 1 year high of $164.22.

Laboratory Corporation of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corporation of America had a return on equity of 16.75% and a net margin of 7.40%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.25 earnings per share. research analysts forecast that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current year.

Several analysts have recently weighed in on the company. ValuEngine downgraded Laboratory Corporation of America from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Robert W. Baird reiterated a “hold” rating and set a $166.00 target price on shares of Laboratory Corporation of America in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Laboratory Corporation of America from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Barclays lifted their target price on Laboratory Corporation of America from $183.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Laboratory Corporation of America in a research report on Tuesday, September 26th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $168.75.

COPYRIGHT VIOLATION NOTICE: This report was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2017/11/30/brandes-investment-partners-lp-lowers-stake-in-laboratory-corporation-of-america-holdings-lh.html.

Laboratory Corporation of America Company Profile

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).

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corporation of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corporation of America (NYSE:LH)

Receive News & Ratings for Laboratory Corporation of America Holdings Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corporation of America Holdings and related companies with MarketBeat.com's FREE daily email newsletter.