Manchester Capital Management LLC decreased its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,251 shares of the medical research company’s stock after selling 375 shares during the period. Manchester Capital Management LLC’s holdings in Laboratory Corp. of America were worth $803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of LH. Shine Investment Advisory Services Inc. lifted its stake in shares of Laboratory Corp. of America by 30.7% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 277 shares of the medical research company’s stock valued at $42,000 after buying an additional 65 shares in the last quarter. ETF Managers Group LLC lifted its stake in Laboratory Corp. of America by 8.1% in the 1st quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock worth $135,000 after purchasing an additional 66 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Laboratory Corp. of America by 1.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,827 shares of the medical research company’s stock worth $1,197,000 after purchasing an additional 74 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Laboratory Corp. of America by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 4,471 shares of the medical research company’s stock worth $565,000 after purchasing an additional 78 shares in the last quarter. Finally, Eukles Asset Management increased its holdings in shares of Laboratory Corp. of America by 0.5% in the 1st quarter. Eukles Asset Management now owns 14,803 shares of the medical research company’s stock worth $2,265,000 after buying an additional 79 shares during the last quarter. 91.26% of the stock is owned by hedge funds and other institutional investors.

In related news, Director R Sanders Williams sold 500 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $162.20, for a total transaction of $81,100.00. Following the completion of the sale, the director now owns 7,386 shares of the company’s stock, valued at $1,198,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa J. Uthgenannt sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $164.00, for a total transaction of $656,000.00. Following the sale, the insider now directly owns 4,638 shares of the company’s stock, valued at approximately $760,632. The disclosure for this sale can be found here. Insiders sold a total of 8,200 shares of company stock valued at $1,352,410 in the last ninety days. Corporate insiders own 0.74% of the company’s stock.

Shares of LH traded down $0.07 during mid-day trading on Wednesday, hitting $166.30. The company’s stock had a trading volume of 70,899 shares, compared to its average volume of 844,166. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $190.35. The stock has a market capitalization of $16.39 billion, a PE ratio of 15.09, a PEG ratio of 1.70 and a beta of 1.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings results on Tuesday, April 30th. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company earned $2.78 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts forecast that Laboratory Corp. of America Holdings will post 11.27 EPS for the current year.

LH has been the topic of a number of research reports. Mizuho boosted their target price on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Thursday, May 16th. UBS Group upped their target price on shares of Laboratory Corp. of America from $178.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. ValuEngine downgraded shares of Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Finally, Jefferies Financial Group upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and upped their target price for the stock from $154.00 to $190.00 in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. Laboratory Corp. of America has an average rating of “Hold” and a consensus price target of $179.33.

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About Laboratory Corp. of America

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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