Laboratory Corp. of America Holdings (LH) Shares Bought by Garrison Asset Management LLC

Garrison Asset Management LLC increased its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 1.3% during the 1st quarter, Holdings Channel reports. The firm owned 19,598 shares of the medical research company’s stock after purchasing an additional 245 shares during the quarter. Garrison Asset Management LLC’s holdings in Laboratory Corp. of America were worth $2,998,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. JFS Wealth Advisors LLC bought a new position in Laboratory Corp. of America during the fourth quarter valued at approximately $26,000. Evolution Wealth Advisors LLC bought a new position in Laboratory Corp. of America during the fourth quarter valued at approximately $29,000. Bremer Trust National Association bought a new position in Laboratory Corp. of America during the fourth quarter valued at approximately $31,000. Osborn Williams & Donohoe LLC bought a new position in Laboratory Corp. of America during the first quarter valued at approximately $32,000. Finally, Quantamental Technologies LLC bought a new position in Laboratory Corp. of America during the fourth quarter valued at approximately $39,000. Institutional investors own 91.26% of the company’s stock.

LH stock traded up $0.45 on Wednesday, reaching $163.78. The company’s stock had a trading volume of 5,796 shares, compared to its average volume of 1,019,635. Laboratory Corp. of America Holdings has a 12-month low of $119.38 and a 12-month high of $190.35. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.68 and a beta of 1.15. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.77.

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

A number of research firms have recently weighed in on LH. Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $183.00 price objective for the company in a research note on Thursday, May 9th. TheStreet raised Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Canaccord Genuity increased their price objective 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. Citigroup increased their price objective 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. Finally, UBS Group increased their price objective on Laboratory Corp. of America from $178.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $178.87.

In other Laboratory Corp. of America news, Director Robert E. Mittelstaedt, Jr. sold 3,700 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $166.30, for a total transaction of $615,310.00. Following the completion of the transaction, the director now owns 18,909 shares of the company’s stock, valued at $3,144,566.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa J. Uthgenannt sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $164.00, for a total value of $656,000.00. Following the transaction, the insider now directly owns 4,638 shares of the company’s stock, valued at approximately $760,632. The disclosure for this sale can be found here. Insiders sold 8,200 shares of company stock valued at $1,352,410 in the last ninety days. 0.74% of the stock is currently owned by insiders.

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

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