Laboratory Corp. of America Holdings (LH) : Baltimore-washington Financial Advisors reduced its stake in Laboratory Corp. of America Holdings by 2.0% during the most recent quarter end. The investment management company now holds a total of 37,920 shares of Laboratory Corp. of America Holdings which is valued at $5,175,322 after selling 775 shares in Laboratory Corp. of America Holdings , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Laboratory Corp. of America Holdings makes up approximately 1.50% of Baltimore-washington Financial Advisors’s portfolio.
Other Hedge Funds, Including , Atria Investments sold out all of its stake in LH during the most recent quarter. The investment firm sold 2,266 shares of LH which is valued $309,264.Contravisory Investment Management reduced its stake in LH by selling 2,705 shares or 4.72% in the most recent quarter. The Hedge Fund company now holds 54,627 shares of LH which is valued at $7,598,616. Laboratory Corp. of America Holdings makes up approx 2.49% of Contravisory Investment Management’s portfolio.Independent Portfolio Consultants reduced its stake in LH by selling 100 shares or 5.33% in the most recent quarter. The Hedge Fund company now holds 1,775 shares of LH which is valued at $242,518. Laboratory Corp. of America Holdings makes up approx 0.08% of Independent Portfolio Consultants’s portfolio. Washington Trust Bank added LH to its portfolio by purchasing 13 company shares during the most recent quarter which is valued at $1,776.Beacon Financial Group reduced its stake in LH by selling 342 shares or 7.62% in the most recent quarter. The Hedge Fund company now holds 4,144 shares of LH which is valued at $566,195. Laboratory Corp. of America Holdings makes up approx 0.12% of Beacon Financial Group’s portfolio.
Laboratory Corp. of America Holdings closed down -2.62 points or -1.88% at $136.48 with 4,30,545 shares getting traded on Tuesday. Post opening the session at $138.57, the shares hit an intraday low of $135.83 and an intraday high of $139.13 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, Laboratory Corp. of America Holdings reported $2.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.30. The company had revenue of $2382.00 million for the quarter, compared to analysts expectations of $2334.01 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS.
Many Wall Street Analysts have commented on Laboratory Corp. of America Holdings. Company shares were Reiterated by Mizuho on Sep 15, 2016 to “Neutral”, Firm has raised the Price Target to $ 145 from a previous price target of $132 .Laboratory Corp. of America Holdings was Initiated by Citigroup to “Neutral” on Sep 9, 2016.
Laboratory Corporation of America Holdings is an independent clinical laboratory company in the United States. Through a national network of laboratories the Company offers a range of clinical laboratory tests that are used by the medical profession in core testing patient diagnosis and in the monitoring and treatment of disease. The Company manages its operations through two segments: the Clinical diagnostics laboratory segment which includes core testing as well as genomic and esoteric testing; and the Other segment which consists of the Company’s non-United States clinical diagnostic laboratory operations in Ontario Canada. It also provides specialty testing services in the areas of allergy clinical trials diagnostic genetics women’s health cardiovascular disease identity forensics infectious disease endocrinology oncology coagulation occupational testing and pain management.