Stonebridge Capital Advisors LLC Buys 1,010 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Stonebridge Capital Advisors LLC increased its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 5.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 21,190 shares of the medical research company’s stock after buying an additional 1,010 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Laboratory Corp. of America were worth $3,242,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LH. Bremer Trust National Association purchased a new stake in Laboratory Corp. of America during the 4th quarter valued at $31,000. Osborn Williams & Donohoe LLC purchased a new stake in Laboratory Corp. of America during the 1st quarter valued at $32,000. Bremer Bank National Association purchased a new stake in Laboratory Corp. of America during the 1st quarter valued at $35,000. Quantamental Technologies LLC purchased a new stake in Laboratory Corp. of America during the 4th quarter valued at $39,000. Finally, Shine Investment Advisory Services Inc. boosted its stake in Laboratory Corp. of America by 30.7% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 277 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 91.56% of the company’s stock.

In related news, CFO Glenn A. Eisenberg sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 28,366 shares of the company’s stock, valued at approximately $4,748,468.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $162.20, for a total value of $81,100.00. Following the completion of the transaction, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The disclosure for this sale can be found here. Insiders have sold a total of 18,200 shares of company stock worth $3,026,410 over the last three months. Insiders own 0.74% of the company’s stock.

Several analysts have commented on the company. Mizuho increased their target price on Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Thursday, May 16th. TheStreet upgraded Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Canaccord Genuity increased their target price on Laboratory Corp. of America from $155.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Finally, Citigroup increased their target price on Laboratory Corp. of America from $157.00 to $176.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Laboratory Corp. of America has an average rating of “Hold” and an average price target of $179.33.

Shares of NYSE LH traded up $0.87 during midday trading on Thursday, hitting $167.34. 124,981 shares of the stock traded hands, compared to its average volume of 705,143. The stock has a market capitalization of $16.41 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.14 and a quick ratio of 1.05. Laboratory Corp. of America Holdings has a one year low of $119.38 and a one year high of $190.07.

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

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

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