2,032 Shares in Laboratory Corp. of America Holdings (NYSE:LH) Acquired by Trellis Advisors LLC

Trellis Advisors LLC purchased a new position in Laboratory Corp. of America Holdings (NYSE:LH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,032 shares of the medical research company’s stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LH. Osborn Williams & Donohoe LLC acquired a new stake in Laboratory Corp. of America during the 1st quarter valued at $32,000. Steward Partners Investment Advisory LLC acquired a new stake in Laboratory Corp. of America during the 2nd quarter valued at $32,000. Legacy Advisors LLC acquired a new stake in Laboratory Corp. of America during the 2nd quarter valued at $33,000. Meeder Asset Management Inc. acquired a new stake in Laboratory Corp. of America during the 2nd quarter valued at $33,000. Finally, Bremer Bank National Association acquired a new stake in Laboratory Corp. of America during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 89.72% of the company’s stock.

In other Laboratory Corp. of America news, CFO Glenn A. Eisenberg sold 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $167.40, for a total transaction of $1,674,000.00. Following the transaction, the chief financial officer now owns 28,366 shares of the company’s stock, valued at approximately $4,748,468.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Glenn A. Eisenberg sold 5,563 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $983,260.25. Following the transaction, the chief financial officer now directly owns 17,059 shares in the company, valued at approximately $3,015,178.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,491 shares of company stock worth $3,677,189. Corporate insiders own 0.74% of the company’s stock.

A number of equities research analysts have commented on the company. Morgan Stanley increased their target price on Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity increased their target price on Laboratory Corp. of America from $155.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. Deutsche Bank upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $180.00 to $220.00 in a report on Thursday, June 20th. KeyCorp increased their target price on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Barclays set a $200.00 target price on Laboratory Corp. of America and gave the company a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $185.91.

Shares of Laboratory Corp. of America stock traded down $2.08 during trading hours on Friday, reaching $165.86. 420,717 shares of the company’s stock were exchanged, compared to its average volume of 690,786. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $178.44. The firm has a market capitalization of $16.41 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The company has a fifty day moving average of $169.48 and a 200-day moving average of $160.78. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company posted $2.98 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.28 earnings per share for the current fiscal year.

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.

Featured Story: Understanding Stock Ratings

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corp. of America Holdings (NYSE:LH).

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

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.