Zurcher Kantonalbank Zurich Cantonalbank Sells 29,062 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 52.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,820 shares of the medical research company’s stock after selling 29,062 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Laboratory Corp. of America were worth $4,455,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in Laboratory Corp. of America by 13.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,138 shares of the medical research company’s stock worth $184,000 after acquiring an additional 132 shares during the period. Macquarie Group Ltd. grew its position in shares of Laboratory Corp. of America by 7.9% during the 4th quarter. Macquarie Group Ltd. now owns 4,105 shares of the medical research company’s stock valued at $694,000 after acquiring an additional 301 shares during the period. American National Bank increased its stake in shares of Laboratory Corp. of America by 71.5% in the 1st quarter. American National Bank now owns 57,056 shares of the medical research company’s stock worth $7,211,000 after purchasing an additional 23,785 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Laboratory Corp. of America by 7.7% in the 1st quarter. State of Alaska Department of Revenue now owns 71,515 shares of the medical research company’s stock worth $9,038,000 after purchasing an additional 5,141 shares during the period. Finally, Private Trust Co. NA lifted its position in Laboratory Corp. of America by 1.7% during the first quarter. Private Trust Co. NA now owns 5,279 shares of the medical research company’s stock valued at $667,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.

In related news, EVP Der Vaart Sandra D. Van sold 435 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total value of $73,950.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares in the company, valued at $687,480. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Sanders Williams sold 1,300 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $173.12, for a total transaction of $225,056.00. Following the transaction, the director now owns 6,395 shares in the company, valued at approximately $1,107,102.40. The disclosure for this sale can be found here. Insiders sold a total of 2,607 shares of company stock valued at $438,814 over the last three months. Corporate insiders own 0.70% of the company’s stock.

NYSE:LH opened at $192.92 on Friday. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.70 and a beta of 1.38. Laboratory Corp. of America Holdings has a 1 year low of $98.02 and a 1 year high of $206.74. The stock’s 50 day simple moving average is $177.01 and its two-hundred day simple moving average is $167.49. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.07.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Tuesday, July 28th. The medical research company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $1.79. Laboratory Corp. of America had a net margin of 3.16% and a return on equity of 14.39%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm posted $2.93 earnings per share. Laboratory Corp. of America’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, analysts anticipate that Laboratory Corp. of America Holdings will post 13.19 EPS for the current year.

A number of analysts have commented on LH shares. Barclays upped their price target on Laboratory Corp. of America from $188.00 to $195.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. SunTrust Banks raised their price objective on shares of Laboratory Corp. of America from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday. BofA Securities upgraded shares of Laboratory Corp. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $194.00 to $220.00 in a research note on Tuesday, July 14th. Deutsche Bank increased their price target on Laboratory Corp. of America from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Laboratory Corp. of America from $118.00 to $223.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Laboratory Corp. of America has a consensus rating of “Buy” and a consensus price target of $214.44.

Laboratory Corp. of America 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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