Today: White Pine Investment CO decides to keep it stake in Laboratory Corp. of America Holdings (LH) to the level of $3,557,000

Today: White Pine Investment CO decides to keep it stake in Laboratory Corp. of America Holdings (LH) to the level of $3,557,000

White Pine Investment CO decreased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,870 shares of the company’s stock after selling 310 shares during the period. Laboratory Corp. of America Holdings makes up 2.1% of White Pine Investment CO’s investment portfolio, making the stock its 22nd largest position. White Pine Investment CO’s holdings in Laboratory Corp. of America Holdings were worth $3,557,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Jacobs & Co. CA increased its position in Laboratory Corp. of America Holdings by 7.5% in the second quarter. Jacobs & Co. CA now owns 14,423 shares of the company’s stock valued at $1,878,000 after buying an additional 1,010 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Laboratory Corp. of America Holdings by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 164,376 shares of the company’s stock valued at $21,413,000 after buying an additional 1,683 shares during the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Laboratory Corp. of America Holdings by 7.0% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 26,506 shares of the company’s stock valued at $3,453,000 after buying an additional 1,745 shares during the last quarter. Raymond James Trust N.A. increased its position in Laboratory Corp. of America Holdings by 36.7% in the second quarter. Raymond James Trust N.A. now owns 2,474 shares of the company’s stock valued at $322,000 after buying an additional 664 shares during the last quarter. Finally, Pensionfund DSM Netherlands purchased a new position in Laboratory Corp. of America Holdings during the second quarter valued at $3,569,000. 91.24% of the stock is owned by institutional investors and hedge funds.

Laboratory Corp. of America Holdings (NYSE:LH) opened at 127.51 on Monday. The stock has a market capitalization of $13.13 billion, a price-to-earnings ratio of 20.22 and a beta of 0.96. The firm has a 50-day moving average price of $129.92 and a 200 day moving average price of $132.91. Laboratory Corp. of America Holdings has a 52-week low of $97.79 and a 52-week high of $141.32.

Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.29 by $0.04. The company earned $2.40 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 EPS. On average, equities research analysts predict that Laboratory Corp. of America Holdings will post $8.78 EPS for the current year.

Several equities analysts recently weighed in on LH shares. Citigroup Inc. started coverage on Laboratory Corp. of America Holdings in a research note on Friday, September 9th. They issued a “neutral” rating and a $156.00 price objective for the company. They noted that the move was a valuation call. Gabelli started coverage on Laboratory Corp. of America Holdings in a report on Tuesday, October 25th. They set a “buy” rating and a $180.00 target price on the stock. Canaccord Genuity set a $155.00 target price on Laboratory Corp. of America Holdings and gave the company a “buy” rating in a report on Wednesday, September 14th. Zacks Investment Research cut Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, Mizuho increased their target price on Laboratory Corp. of America Holdings from $132.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, September 15th. 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 presently has an average rating of “Buy” and an average price target of $143.13.

Laboratory Corp. of America Holdings Company Profile

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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