Laboratory Corp. of America Holdings (NYSE:LH) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 1,682,600 shares, a decrease of 12.9% from the May 30th total of 1,931,400 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 790,000 shares, the days-to-cover ratio is currently 2.1 days.

In other news, SVP Der Vaart Sandra D. Van sold 2,328 shares of the 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 sale, the senior vice president now directly owns 2,328 shares in the company, valued at approximately $411,474. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $167.40, for a total value of $1,674,000.00. Following the sale, the chief financial officer now owns 28,366 shares in the company, valued at $4,748,468.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,191 shares of company stock worth $4,948,144 over the last quarter. Insiders own 0.74% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Laboratory Corp. of America by 2.6% during the 1st quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock valued at $1,534,283,000 after purchasing an additional 257,173 shares during the period. Nordea Investment Management AB boosted its stake in shares of Laboratory Corp. of America by 7.3% during the 4th quarter. Nordea Investment Management AB now owns 2,120,509 shares of the medical research company’s stock worth $267,945,000 after acquiring an additional 143,426 shares in the last quarter. FMR LLC boosted its stake in shares of Laboratory Corp. of America by 81.4% during the 1st quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock worth $244,257,000 after acquiring an additional 716,703 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Laboratory Corp. of America by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,460,214 shares of the medical research company’s stock worth $184,501,000 after acquiring an additional 34,797 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Laboratory Corp. of America by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 1,412,093 shares of the medical research company’s stock worth $178,140,000 after acquiring an additional 111,859 shares in the last quarter. Institutional investors own 91.45% of the company’s stock.

Shares of LH stock traded up $0.54 during mid-day trading on Friday, hitting $175.49. 37,685 shares of the stock traded hands, compared to its average volume of 607,235. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $188.65. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. The stock’s 50-day simple moving average is $169.10. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.77.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the firm earned $2.78 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts forecast that Laboratory Corp. of America will post 11.27 earnings per share for the current year.

Several research firms recently commented on LH. Barclays restated a “buy” rating and issued a $304.00 target price on shares of Adobe in a research report on Monday, March 18th. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Mizuho set a $31.00 target price on Evolus and gave the company a “buy” rating in a research report on Monday, May 20th. Jefferies Financial Group restated a “sell” rating on shares of Hi-Crush Partners in a research report on Tuesday, April 2nd. Finally, Zacks Investment Research cut G1 Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $181.33.

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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