Intrepid Capital Management Inc. Sells 4,144 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Intrepid Capital Management Inc. cut its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 28.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,497 shares of the medical research company’s stock after selling 4,144 shares during the period. Intrepid Capital Management Inc.’s holdings in Laboratory Corp. of America were worth $1,815,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LH. ETF Managers Group LLC grew its position in Laboratory Corp. of America by 8.1% during the 1st quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock worth $135,000 after acquiring an additional 66 shares during the last quarter. Squar Milner Financial Services LLC grew its position in Laboratory Corp. of America by 6.4% during the 2nd quarter. Squar Milner Financial Services LLC now owns 1,090 shares of the medical research company’s stock worth $188,000 after acquiring an additional 66 shares during the last quarter. Hartford Investment Management Co. grew its position in Laboratory Corp. of America by 0.3% during the 2nd quarter. Hartford Investment Management Co. now owns 20,629 shares of the medical research company’s stock worth $3,567,000 after acquiring an additional 67 shares during the last quarter. Diversified Trust Co grew its position in Laboratory Corp. of America by 4.1% during the 2nd quarter. Diversified Trust Co now owns 1,763 shares of the medical research company’s stock worth $305,000 after acquiring an additional 70 shares during the last quarter. Finally, Private Trust Co. NA grew its position in Laboratory Corp. of America by 1.4% during the 2nd quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock worth $894,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 91.17% of the company’s stock.

LH has been the topic of several recent research reports. Deutsche Bank upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $180.00 to $220.00 in a research report on Thursday, June 20th. Mizuho increased their price objective on Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. KeyCorp increased their price objective on Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Thursday, May 16th. Finally, Morgan Stanley raised their target price on Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $185.91.

In other Laboratory Corp. of America news, SVP Lance Berberian sold 5,902 shares of Laboratory Corp. of America stock in a transaction on Friday, August 30th. The stock was sold at an average price of $169.80, for a total value of $1,002,159.60. Following the completion of the sale, the senior vice president now owns 6,097 shares of the company’s stock, valued at approximately $1,035,270.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Der Vaart Sandra D. Van sold 2,328 shares of Laboratory Corp. of America stock in a transaction on Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $411,474.00. Following the completion of the sale, the senior vice president now directly owns 2,328 shares of the company’s stock, valued at approximately $411,474. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,859 shares of company stock valued at $3,421,092. 0.74% of the stock is owned by corporate insiders.

LH stock opened at $173.70 on Friday. Laboratory Corp. of America Holdings has a twelve month low of $119.38 and a twelve month high of $178.44. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a market cap of $16.97 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.04. The business has a 50 day moving average of $167.18 and a 200 day moving average of $162.88.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the company earned $2.98 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts expect that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current fiscal year.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

Featured Article: How are dividend achievers different from dividend aristocrats?

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corp. of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.