Laboratory Corp. of America Holdings (NYSE:LH) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,682,600 shares, a decline of 12.9% from the May 30th total of 1,931,400 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 790,000 shares, the short-interest ratio is presently 2.1 days.

In related news, SVP Der Vaart Sandra D. Van sold 2,328 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $411,474.00. Following the sale, the senior vice president now directly owns 2,328 shares of the company’s stock, valued at $411,474. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $167.40, for a total value of $1,674,000.00. Following the completion of the sale, the chief financial officer now directly owns 28,366 shares in the company, valued at $4,748,468.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,191 shares of company stock worth $4,948,144. 0.74% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. lifted its holdings in shares of Laboratory Corp. of America by 30.7% during the first quarter. Shine Investment Advisory Services Inc. now owns 277 shares of the medical research company’s stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. ETF Managers Group LLC lifted its holdings in shares of Laboratory Corp. of America by 8.1% during the first quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock valued at $135,000 after purchasing an additional 66 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Laboratory Corp. of America by 4.1% during the second quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock valued at $305,000 after purchasing an additional 70 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of Laboratory Corp. of America by 1.4% during the second quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock valued at $894,000 after purchasing an additional 72 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Laboratory Corp. of America by 1.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,827 shares of the medical research company’s stock valued at $1,197,000 after purchasing an additional 74 shares in the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE LH traded up $0.50 during trading on Friday, reaching $175.45. The company had a trading volume of 790,050 shares, compared to its average volume of 603,796. Laboratory Corp. of America has a 12-month low of $119.38 and a 12-month high of $188.65. The stock has a market cap of $17.23 billion, a PE ratio of 15.92, a PEG ratio of 1.81 and a beta of 1.04. The business’s 50-day moving average is $169.30. 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 released its earnings results on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.09. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the firm posted $2.78 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Laboratory Corp. of America will post 11.27 EPS for the current year.

LH has been the topic of several recent research reports. Citigroup upped their price target on Martin Marietta Materials from $239.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 price target on shares of Chembio Diagnostics in a research note on Thursday, May 2nd. Mizuho set a $31.00 target price on Evolus and gave the stock a “buy” rating in a research note on Monday, May 20th. Finally, Barclays reissued a “buy” rating and issued a $304.00 target price on shares of Adobe in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $181.33.

Laboratory Corp. of America Company 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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