Trade Report: Today, 385 Shares of Laboratory Corp. of America Holdings (LH) are sold by Exxonmobil Investment Management Inc. TX

Today, 385 Shares of Laboratory Corp. of America Holdings (LH) are sold by Exxonmobil Investment Management Inc. TX

Exxonmobil Investment Management Inc. TX lowered its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,121 shares of the company’s stock after selling 385 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Laboratory Corp. of America Holdings were worth $3,591,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LH. Boston Partners raised its stake in shares of Laboratory Corp. of America Holdings by 78.5% in the second quarter. Boston Partners now owns 3,555,298 shares of the company’s stock valued at $463,149,000 after buying an additional 1,563,105 shares during the period. Vanguard Group Inc. raised its stake in shares of Laboratory Corp. of America Holdings by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,406,648 shares of the company’s stock valued at $1,225,404,000 after buying an additional 463,343 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of Laboratory Corp. of America Holdings during the second quarter valued at about $51,661,000. Bank of Montreal Can bought a new stake in shares of Laboratory Corp. of America Holdings during the second quarter valued at about $49,845,000. Finally, Bessemer Group Inc. raised its stake in shares of Laboratory Corp. of America Holdings by 58.9% in the second quarter. Bessemer Group Inc. now owns 850,573 shares of the company’s stock valued at $110,804,000 after buying an additional 315,250 shares during the period. Institutional investors own 91.24% of the company’s stock.

Laboratory Corp. of America Holdings (NYSE:LH) traded down 1.41% during midday trading on Monday, hitting $125.71. 740,019 shares of the stock were exchanged. The firm has a 50 day moving average of $129.92 and a 200-day moving average of $132.91. Laboratory Corp. of America Holdings has a 12-month low of $97.79 and a 12-month high of $141.32. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 19.93 and a beta of 0.96.

Laboratory Corp. of America Holdings (NYSE:LH) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $2.25 EPS for the quarter, missing the Zacks’ consensus estimate of $2.29 by $0.04. The business earned $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Laboratory Corp. of America Holdings had a net margin of 6.85% and a return on equity of 16.97%. Laboratory Corp. of America Holdings’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share. On average, equities analysts expect that Laboratory Corp. of America Holdings will post $8.78 earnings per share for the current year.

LH has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Laboratory Corp. of America Holdings from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a research report on Tuesday, October 4th. Gabelli initiated coverage on shares of Laboratory Corp. of America Holdings in a research report on Tuesday, October 25th. They issued a “buy” rating and a $180.00 target price on the stock. Barclays PLC set a $155.00 target price on shares of Laboratory Corp. of America Holdings and gave the company a “buy” rating in a research report on Monday, August 29th. Citigroup Inc. started coverage on shares of Laboratory Corp. of America Holdings in a research note on Friday, September 9th. They issued a “neutral” rating and a $156.00 price target on the stock. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $155.00 price target on shares of Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $143.13.

About Laboratory Corp. of America Holdings

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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