Alberta Investment Management Corp Sells 1,500 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Alberta Investment Management Corp lessened its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,500 shares of the medical research company’s stock after selling 1,500 shares during the period. Alberta Investment Management Corp’s holdings in Laboratory Corp. of America were worth $2,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. River Wealth Advisors LLC boosted its position in shares of Laboratory Corp. of America by 3.6% during the 4th quarter. River Wealth Advisors LLC now owns 1,720 shares of the medical research company’s stock valued at $291,000 after purchasing an additional 60 shares in the last quarter. CSat Investment Advisory L.P. boosted its position in shares of Laboratory Corp. of America by 23.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 322 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 61 shares in the last quarter. Ellevest Inc. boosted its position in shares of Laboratory Corp. of America by 49.3% during the 1st quarter. Ellevest Inc. now owns 218 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 72 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Laboratory Corp. of America by 7.3% during the 4th quarter. Parallel Advisors LLC now owns 1,162 shares of the medical research company’s stock valued at $197,000 after purchasing an additional 79 shares in the last quarter. Finally, Capital City Trust Co. FL boosted its position in shares of Laboratory Corp. of America by 0.6% during the 1st quarter. Capital City Trust Co. FL now owns 13,592 shares of the medical research company’s stock valued at $1,718,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 90.73% of the company’s stock.

A number of research analysts recently weighed in on LH shares. Evercore ISI started coverage on Laboratory Corp. of America in a research note on Friday, February 14th. They set a “buy” rating and a $215.00 price target on the stock. Citigroup raised Laboratory Corp. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $204.00 to $214.00 in a research note on Monday, April 27th. Morgan Stanley upped their price target on Laboratory Corp. of America from $241.00 to $244.00 and gave the stock an “overweight” rating in a research note on Wednesday. SunTrust Banks upped their price target on Laboratory Corp. of America from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Mizuho raised Laboratory Corp. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $158.00 to $186.00 in a research note on Friday, May 15th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $199.56.

Shares of Laboratory Corp. of America stock opened at $170.16 on Friday. The company has a market cap of $16.75 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 3.77 and a beta of 1.37. Laboratory Corp. of America Holdings has a 52 week low of $98.02 and a 52 week high of $196.36. The business has a 50 day moving average price of $153.01 and a 200-day moving average price of $164.91. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.92.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Wednesday, April 29th. The medical research company reported $2.37 EPS for the quarter, topping the consensus estimate of $1.95 by $0.42. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.73 billion. Laboratory Corp. of America had a return on equity of 15.03% and a net margin of 2.77%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.62 earnings per share. As a group, research analysts anticipate that Laboratory Corp. of America Holdings will post 8.81 EPS for the current year.

In other Laboratory Corp. of America news, EVP Judith C. Seltz bought 250 shares of Laboratory Corp. of America stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $174.94 per share, with a total value of $43,735.00. Following the completion of the acquisition, the executive vice president now directly owns 250 shares in the company, valued at approximately $43,735. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Judith C. Seltz bought 330 shares of Laboratory Corp. of America stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $168.56 per share, with a total value of $55,624.80. Following the completion of the acquisition, the executive vice president now owns 250 shares of the company’s stock, valued at $42,140. The disclosure for this purchase can be found here. Corporate insiders own 0.70% of the company’s stock.

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

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