Contravisory Investment Management Lowers stake in Laboratory Corp. of America Holdings (LH)

Laboratory Corp. of America Holdings (LH) : Contravisory Investment Management reduced its stake in Laboratory Corp. of America Holdings by 7.03% during the most recent quarter end. The investment management company now holds a total of 57,332 shares of Laboratory Corp. of America Holdings which is valued at $7,791,419 after selling 4,332 shares in Laboratory Corp. of America Holdings , the firm said in a disclosure report filed with the SEC on Jul 13, 2016.Laboratory Corp. of America Holdings makes up approximately 2.36% of Contravisory Investment Management’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in LH in the latest quarter, The investment management firm added 1,827 additional shares and now holds a total of 16,286 shares of Laboratory Corp. of America Holdings which is valued at $2,213,267. Laboratory Corp. of America Holdings makes up approx 0.07% of Capstone Asset Management Co’s portfolio.Davenport Co boosted its stake in LH in the latest quarter, The investment management firm added 75 additional shares and now holds a total of 5,872 shares of Laboratory Corp. of America Holdings which is valued at $798,005. Laboratory Corp. of America Holdings makes up approx 0.01% of Davenport Co’s portfolio.American National Bank boosted its stake in LH in the latest quarter, The investment management firm added 1,822 additional shares and now holds a total of 40,501 shares of Laboratory Corp. of America Holdings which is valued at $5,479,785. Laboratory Corp. of America Holdings makes up approx 2.02% of American National Bank’s portfolio.Integrated Investment Consultants boosted its stake in LH in the latest quarter, The investment management firm added 338 additional shares and now holds a total of 938 shares of Laboratory Corp. of America Holdings which is valued at $122,625. Laboratory Corp. of America Holdings makes up approx 0.06% of Integrated Investment Consultants’s portfolio. Pensionfund Dsm Netherlands added LH to its portfolio by purchasing 27,400 company shares during the most recent quarter which is valued at $3,582,002. Laboratory Corp. of America Holdings makes up approx 0.48% of Pensionfund Dsm Netherlands’s portfolio.

Laboratory Corp. of America Holdings opened for trading at $136.12 and hit $136.97 on the upside on Monday, eventually ending the session at $136.42, with a gain of 0.17% or 0.23 points. The heightened volatility saw the trading volume jump to 5,00,501 shares. Company has a market cap of $13,969 M.

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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