Shares of Laboratory Corporation of America Holdings (NYSE:LH) Sees Large Outflow of Money

Laboratory Corporation of America Holdings (NYSE:LH) : Money flow in the Laboratory Corporation of America Holdings (NYSE:LH) stock was negative (13.27 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $23.39 million, compared to $36.66 million on downticks. The total uptick to downtick ratio was 0.64, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($8.88 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $8.88 million, indicating persistent selling. Laboratory Corporation of America Holdings (NYSE:LH) traded $2.91 higher at $129.38 gaining 2.3% over the previous days close.


In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (President & CEO) of Laboratory Corp Of America Holdings, King David P had sold 196,400 shares worth of $25,221,688 in a transaction dated June 13, 2016. In this transaction, 196,400 shares were sold at $128.42 per share. Currently the company Insiders own 1.14% of Laboratory Corporation of America Holdings shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -63.48% . Institutional Investors own 95.24% of Laboratory Corporation of America Holdings shares. During last six month period, the net percent change held by insiders has seen a change of -26.35%.

The company shares have rallied 3.50% from its 1 Year high price. On Jun 9, 2016, the shares registered one year high at $131.99 and the one year low was seen on Feb 8, 2016. The 50-Day Moving Average price is $127.90 and the 200 Day Moving Average price is recorded at $118.89. Laboratory Corporation of America Holdings (NYSE:LH): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $127.73 and $127.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $130.17. The buying momentum continued till the end and the stock did not give up its gains. It closed at $129.38, notching a gain of 2.30% for the day. The total traded volume was 1,030,807 . The stock had closed at $126.47 on the previous day.

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 Companys 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, womens health, cardiovascular disease, identity, forensics, infectious disease, endocrinology, oncology, coagulation, occupational testing and pain management.

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