Edmond DE Rothschild Holding S.A. Buys Shares of 44,570 Laboratory Corp. of America Holdings (NYSE:LH)

Edmond DE Rothschild Holding S.A. purchased a new stake in Laboratory Corp. of America Holdings (NYSE:LH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 44,570 shares of the medical research company’s stock, valued at approximately $6,818,000.

Other large investors have also recently added to or reduced their stakes 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 acquiring an additional 65 shares during the period. 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 acquiring an additional 66 shares during the period. 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 acquiring an additional 74 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Laboratory Corp. of America by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 4,471 shares of the medical research company’s stock valued at $565,000 after acquiring an additional 78 shares during the period. Finally, Eukles Asset Management lifted its holdings in shares of Laboratory Corp. of America by 0.5% during the first quarter. Eukles Asset Management now owns 14,803 shares of the medical research company’s stock valued at $2,265,000 after acquiring an additional 79 shares during the period. 91.45% of the stock is currently owned by institutional investors.

NYSE LH traded up $1.93 on Friday, reaching $172.90. The stock had a trading volume of 924,100 shares, compared to its average volume of 811,566. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. The stock’s fifty day moving average is $166.53. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $188.65. The stock has a market capitalization of $16.84 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.74 and a beta of 1.05.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, beating 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 analyst estimates of $2.82 billion. During the same period in the prior year, the firm posted $2.78 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts forecast that Laboratory Corp. of America Holdings will post 11.27 EPS for the current fiscal year.

A number of research analysts recently issued reports on LH shares. Wolfe Research initiated coverage on Laboratory Corp. of America in a report on Tuesday, April 2nd. They issued an “underperform” rating for the company. Jefferies Financial Group upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and boosted their target price for the stock from $154.00 to $190.00 in a research report on Tuesday, April 2nd. ValuEngine upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Monday, March 11th. Barclays boosted their price objective on Laboratory Corp. of America from $165.00 to $173.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Finally, Citigroup upped their price target on Laboratory Corp. of America from $157.00 to $176.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Laboratory Corp. of America has an average rating of “Buy” and a consensus price target of $181.33.

In related news, CFO Glenn A. Eisenberg sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 28,366 shares of the company’s stock, valued at $4,748,468.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 3,100 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $170.00, for a total value of $527,000.00. Following the completion of the sale, the director now directly owns 22,233 shares in the company, valued at $3,779,610. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,300 shares of company stock worth $3,553,410. 0.74% of the stock is currently owned by insiders.

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.

See Also: Quiet Period

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

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