Stack Financial Management Inc Lowers stake in Laboratory Corp. of America Holdings (LH)

Laboratory Corp. of America Holdings (LH) : Stack Financial Management Inc reduced its stake in Laboratory Corp. of America Holdings by 0.91% during the most recent quarter end. The investment management company now holds a total of 177,344 shares of Laboratory Corp. of America Holdings which is valued at $25,001,957 after selling 1,624 shares in Laboratory Corp. of America Holdings , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Laboratory Corp. of America Holdings makes up approximately 3.07% of Stack Financial Management Inc’s portfolio.

Other Hedge Funds, Including , Suffolk Capital Management sold out all of its stake in LH during the most recent quarter. The investment firm sold 103,177 shares of LH which is valued $14,545,893.Mitsubishi Ufj Kokusai Asset Management Ltd. reduced its stake in LH by selling 13,169 shares or 46.37% in the most recent quarter. The Hedge Fund company now holds 15,232 shares of LH which is valued at $2,134,460. Laboratory Corp. of America Holdings makes up approx 0.05% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Eqis Capital Management boosted its stake in LH in the latest quarter, The investment management firm added 549 additional shares and now holds a total of 10,552 shares of Laboratory Corp. of America Holdings which is valued at $1,439,504. Laboratory Corp. of America Holdings makes up approx 0.09% of Eqis Capital Management’s portfolio.

Laboratory Corp. of America Holdings closed down -0.28 points or -0.20% at $139.77 with 4,01,481 shares getting traded on Monday. Post opening the session at $140.53, the shares hit an intraday low of $139.62 and an intraday high of $140.795 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

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.

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