Laboratory Corp. of America Holdings (LH) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 39.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,389 shares of the medical research company’s stock after selling 2,827 shares during the quarter. Kentucky Retirement Systems’ holdings in Laboratory Corp. of America were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC purchased a new position in shares of Laboratory Corp. of America in the 4th quarter worth approximately $26,000. Evolution Wealth Advisors LLC purchased a new position in shares of Laboratory Corp. of America in the 4th quarter worth approximately $29,000. Bremer Trust National Association purchased a new position in shares of Laboratory Corp. of America in the 4th quarter worth approximately $31,000. Quantamental Technologies LLC purchased a new position in shares of Laboratory Corp. of America in the 4th quarter worth approximately $39,000. Finally, Old North State Trust LLC boosted its holdings in shares of Laboratory Corp. of America by 464.2% in the 4th quarter. Old North State Trust LLC now owns 378 shares of the medical research company’s stock worth $47,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.

LH opened at $154.79 on Tuesday. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $190.35. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 1.38. The firm has a market cap of $15.08 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.15.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the business earned $2.45 EPS. Laboratory Corp. of America’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Laboratory Corp. of America Holdings will post 11.22 earnings per share for the current fiscal year.

A number of brokerages have recently commented on LH. Craig Hallum cut Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. Morgan Stanley set a $175.00 target price on Laboratory Corp. of America and gave the stock a “buy” rating in a report on Friday, February 22nd. William Blair reiterated a “buy” rating on shares of Laboratory Corp. of America in a report on Monday, December 3rd. Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Monday, February 11th. Finally, Bank of America cut Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $174.79.

In related news, Director R Sanders Williams sold 1,038 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total transaction of $152,586.00. Following the completion of the transaction, the director now owns 8,924 shares in the company, valued at approximately $1,311,828. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

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Laboratory Corp. of America Company Profile

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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