Covington Capital Management trimmed its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 3.5% in the 4th quarter, Holdings Channel reports. The firm owned 10,886 shares of the medical research company’s stock after selling 400 shares during the quarter. Covington Capital Management’s holdings in Laboratory Corp. of America were worth $1,736,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LH. DnB Asset Management AS raised its holdings in shares of Laboratory Corp. of America by 2.7% in the fourth quarter. DnB Asset Management AS now owns 11,474 shares of the medical research company’s stock valued at $1,830,000 after acquiring an additional 300 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Laboratory Corp. of America by 3.2% in the fourth quarter. New Mexico Educational Retirement Board now owns 9,779 shares of the medical research company’s stock valued at $1,560,000 after acquiring an additional 300 shares in the last quarter. Coastline Trust Co raised its holdings in shares of Laboratory Corp. of America by 6.1% in the fourth quarter. Coastline Trust Co now owns 5,400 shares of the medical research company’s stock valued at $861,000 after acquiring an additional 310 shares in the last quarter. Garrison Financial Corp raised its holdings in shares of Laboratory Corp. of America by 1.5% in the fourth quarter. Garrison Financial Corp now owns 22,556 shares of the medical research company’s stock valued at $3,598,000 after acquiring an additional 327 shares in the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Laboratory Corp. of America by 10.1% in the fourth quarter. Raymond James Trust N.A. now owns 3,766 shares of the medical research company’s stock valued at $601,000 after acquiring an additional 344 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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In other news, Director Adam H. Schechter sold 1,263 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $169.29, for a total transaction of $213,813.27. Following the sale, the director now owns 7,297 shares in the company, valued at $1,235,309.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 8,400 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $167.36, for a total value of $1,405,824.00. Following the sale, the chief financial officer now owns 15,931 shares in the company, valued at approximately $2,666,212.16. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

LH has been the subject of several recent research reports. Robert W. Baird set a $183.00 price objective on Laboratory Corp. of America and gave the company a “hold” rating in a report on Thursday, February 8th. Zacks Investment Research downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Barclays restated a “buy” rating and issued a $195.00 price objective on shares of Laboratory Corp. of America in a report on Wednesday, December 13th. Morgan Stanley lifted their price objective on Laboratory Corp. of America from $182.00 to $192.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, Jefferies Group reiterated a “hold” rating and issued a $176.00 target price on shares of Laboratory Corp. of America in a report on Tuesday, March 6th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Laboratory Corp. of America presently has an average rating of “Buy” and a consensus price target of $188.33.

Laboratory Corp. of America Holdings (NYSE LH) opened at $174.35 on Thursday. The company has a market cap of $17,770.00, a PE ratio of 24.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.90. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.93. Laboratory Corp. of America Holdings has a fifty-two week low of $134.19 and a fifty-two week high of $181.71.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.07. Laboratory Corp. of America had a return on equity of 11.63% and a net margin of 6.80%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the firm earned $2.15 earnings per share. The company’s revenue was up 13.2% on a year-over-year basis. equities analysts predict that Laboratory Corp. of America Holdings will post 11.54 EPS for the current fiscal year.

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Laboratory Corp. of America 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).

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

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