Leavell Investment Management Inc. raised its position in Laboratory Corp. of America Holdings (NYSE:LH) by 1.8% in the first quarter, Holdings Channel reports. The institutional investor owned 5,533 shares of the medical research company’s stock after purchasing an additional 100 shares during the period. Leavell Investment Management Inc.’s holdings in Laboratory Corp. of America were worth $846,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC bought a new position in shares of Laboratory Corp. of America during the fourth quarter worth about $26,000. Evolution Wealth Advisors LLC bought a new position in shares of Laboratory Corp. of America during the fourth quarter worth about $29,000. Bremer Trust National Association bought a new position in shares of Laboratory Corp. of America during the fourth quarter worth about $31,000. Shine Investment Advisory Services Inc. lifted its position in shares of Laboratory Corp. of America by 30.7% during the first quarter. Shine Investment Advisory Services Inc. now owns 277 shares of the medical research company’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Laboratory Corp. of America during the fourth quarter worth about $39,000. 91.51% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director R Sanders Williams sold 1,038 shares of the firm’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $147.00, for a total transaction of $152,586.00. Following the transaction, the director now owns 8,924 shares in the company, valued at $1,311,828. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is owned by company insiders.
Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.04. Laboratory Corp. of America had a net margin of 8.43% and a return on equity of 17.05%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the business earned $2.45 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Sell-side analysts predict that Laboratory Corp. of America Holdings will post 11.22 EPS for the current fiscal year.
A number of equities analysts have issued reports on the stock. Jefferies Financial Group raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their target price for the stock from $154.00 to $190.00 in a report on Tuesday, April 2nd. Morgan Stanley set a $175.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Monday, February 11th. ValuEngine cut shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Finally, Bank of America cut shares of Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a report on Thursday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $175.50.
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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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