Laboratory Corp. of America Holdings (LH) CFO Sells $1,405,824.00 in Stock

Laboratory Corp. of America Holdings (NYSE:LH) CFO Glenn A. Eisenberg sold 8,400 shares of Laboratory Corp. of America stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 15,931 shares of the company’s stock, valued at approximately $2,666,212.16. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Laboratory Corp. of America Holdings (LH) traded up $1.07 on Wednesday, hitting $172.08. The company had a trading volume of 264,920 shares, compared to its average volume of 651,748. 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 one year low of $134.10 and a one year high of $181.71. The company has a market capitalization of $17,152.28, a price-to-earnings ratio of 14.13, a P/E/G ratio of 1.48 and a beta of 0.93.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.07. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. Laboratory Corp. of America’s revenue was up 13.2% compared to the same quarter last year. research analysts anticipate that Laboratory Corp. of America Holdings will post 11.53 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Zions Bancorporation grew its holdings in Laboratory Corp. of America by 7,444.4% during the third quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 670 shares during the period. Financial Gravity Companies Inc. bought a new stake in Laboratory Corp. of America during the fourth quarter valued at about $182,000. Calton & Associates Inc. bought a new stake in Laboratory Corp. of America during the fourth quarter valued at about $213,000. Weik Capital Management bought a new stake in Laboratory Corp. of America during the fourth quarter valued at about $200,000. Finally, Hourglass Capital LLC bought a new stake in Laboratory Corp. of America during the fourth quarter valued at about $207,000. 91.70% of the stock is owned by institutional investors and hedge funds.

A number of research firms have commented on LH. Goldman Sachs Group began coverage on Laboratory Corp. of America in a report on Monday, January 29th. They issued a “buy” rating and a $205.00 target price for the company. Mizuho set a $178.00 target price on Laboratory Corp. of America and gave the stock a “hold” rating in a report on Wednesday, January 24th. ValuEngine raised Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Robert W. Baird set a $183.00 target price on Laboratory Corp. of America and gave the stock a “hold” rating in a report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Laboratory Corp. of America currently has an average rating of “Buy” and a consensus price target of $180.73.

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About Laboratory Corp. of America

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).

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

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