Stack Financial Management Inc Cuts Stake in Laboratory Corp. of America Stake (LH)

Stack Financial Management Inc Cuts Stake in Laboratory Corp. of America Stake (LH)

Stack Financial Management Inc reduced its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,480 shares of the medical research company’s stock after selling 449 shares during the period. Laboratory Corp. of America accounts for about 1.7% of Stack Financial Management Inc’s portfolio, making the stock its 23rd largest holding. Stack Financial Management Inc owned 0.11% of Laboratory Corp. of America worth $14,213,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LH. Vanguard Group Inc. grew its position in shares of Laboratory Corp. of America by 0.8% in the third quarter. Vanguard Group Inc. now owns 10,823,667 shares of the medical research company’s stock valued at $1,879,854,000 after purchasing an additional 85,785 shares in the last quarter. Vanguard Group Inc grew its position in Laboratory Corp. of America by 0.8% in the third quarter. Vanguard Group Inc now owns 10,823,667 shares of the medical research company’s stock worth $1,879,854,000 after acquiring an additional 85,785 shares during the period. BlackRock Inc. grew its position in Laboratory Corp. of America by 4.9% in the third quarter. BlackRock Inc. now owns 9,139,008 shares of the medical research company’s stock worth $1,587,262,000 after acquiring an additional 427,716 shares during the period. JPMorgan Chase & Co. grew its position in Laboratory Corp. of America by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 1,645,798 shares of the medical research company’s stock worth $285,845,000 after acquiring an additional 213,849 shares during the period. Finally, Morgan Stanley grew its position in Laboratory Corp. of America by 30.9% in the third quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock worth $174,843,000 after acquiring an additional 237,918 shares during the period. Institutional investors own 91.97% of the company’s stock.

LH has been the subject of several analyst reports. Zacks Investment Research lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Citigroup lowered their price objective on Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. UBS Group initiated coverage on Laboratory Corp. of America in a research report on Thursday, January 17th. They issued a “buy” rating and a $169.00 price objective for the company. Bank of America initiated coverage on Laboratory Corp. of America in a research report on Friday, October 19th. They issued a “buy” rating for the company. Finally, Goldman Sachs Group lowered Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and lowered their price objective for the stock from $190.00 to $180.00 in a research report on Friday, November 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $178.27.

NYSE:LH opened at $145.63 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.38 and a current ratio of 1.51. Laboratory Corp. of America Holdings has a 52 week low of $119.38 and a 52 week high of $190.35. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.64 and a beta of 1.13.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the firm earned $2.45 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, analysts anticipate that Laboratory Corp. of America Holdings will post 11.21 EPS for the current fiscal year.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 350 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total transaction of $56,749.00. Following the transaction, the director now directly owns 7,886 shares in the company, valued at $1,278,636.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is owned by corporate insiders.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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