Ariel Investments Lowers stake in Laboratory Corp. of America Holdings (LH)

Laboratory Corp. of America Holdings (LH) : Ariel Investments reduced its stake in Laboratory Corp. of America Holdings by 5.25% during the most recent quarter end. The investment management company now holds a total of 1,587,342 shares of Laboratory Corp. of America Holdings which is valued at $201.3 Million after selling 88,010 shares in Laboratory Corp. of America Holdings , the firm said in a disclosure report filed with the SEC on May 13, 2016.Laboratory Corp. of America Holdings makes up approximately 2.47% of Ariel Investments’s portfolio.

Other Hedge Funds, Including , Hunter Associates Investment Management reduced its stake in LH by selling 131 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 24,234 shares of LH which is valued at $3.1 Million. Laboratory Corp. of America Holdings makes up approx 1.41% of Hunter Associates Investment Management’s portfolio. Mosaic Family Wealth sold out all of its stake in LH during the most recent quarter. The investment firm sold 35 shares of LH which is valued $4,439.New Amsterdam Partnersny reduced its stake in LH by selling 35,062 shares or 20.24% in the most recent quarter. The Hedge Fund company now holds 138,129 shares of LH which is valued at $17.5 Million. Laboratory Corp. of America Holdings makes up approx 1.94% of New Amsterdam Partnersny’s portfolio. Mark Sheptoff Financial Planning sold out all of its stake in LH during the most recent quarter. The investment firm sold 16 shares of LH which is valued $2,029.

Laboratory Corp. of America Holdings closed down -0.58 points or -0.45% at $127.58 with 11,34,385 shares getting traded on Wednesday. Post opening the session at $128.38, the shares hit an intraday low of $127.26 and an intraday high of $129.29 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Laboratory Corp. of America Holdings reported $2.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $1.96. The company had revenue of $2295.20 million for the quarter, compared to analysts expectations of $2184.25 million. The company’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS.

Many Wall Street Analysts have commented on Laboratory Corp. of America Holdings. Company shares were Reiterated by Mizuho on Apr 26, 2016 to “Neutral”, Firm has raised the Price Target to $ 132 from a previous price target of $119 .Company shares were Reiterated by Canaccord Genuity on Apr 26, 2016 to “Buy”, Firm has raised the Price Target to $ 140 from a previous price target of $135 .Company shares were Reiterated by Barclays on Apr 26, 2016 to “Overweight”, Firm has raised the Price Target to $ 155 from a previous price target of $152 .

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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