Laboratory Corporation of America Holdings (LH) Shares Bought by Advisory Services Network LLC

Advisory Services Network LLC grew its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 7.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,213 shares of the medical research company’s stock after buying an additional 838 shares during the quarter. Advisory Services Network LLC’s holdings in Laboratory Corporation of America Holdings were worth $1,883,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in shares of Laboratory Corporation of America Holdings in the second quarter valued at approximately $700,000. Colony Group LLC lifted its position in shares of Laboratory Corporation of America Holdings by 37.2% in the second quarter. Colony Group LLC now owns 3,334 shares of the medical research company’s stock worth $514,000 after purchasing an additional 904 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Laboratory Corporation of America Holdings by 63.8% in the second quarter. Verition Fund Management LLC now owns 20,750 shares of the medical research company’s stock worth $3,198,000 after purchasing an additional 8,081 shares in the last quarter. Timucuan Asset Management Inc. FL lifted its position in shares of Laboratory Corporation of America Holdings by 2.3% in the second quarter. Timucuan Asset Management Inc. FL now owns 379,602 shares of the medical research company’s stock worth $58,512,000 after purchasing an additional 8,619 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in shares of Laboratory Corporation of America Holdings by 0.5% in the second quarter. Stonebridge Capital Advisors LLC now owns 19,855 shares of the medical research company’s stock worth $3,060,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 93.19% of the company’s stock.

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LH has been the topic of a number of research reports. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group lowered shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective on the stock. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reissued an “overweight” rating and issued a $182.00 price objective (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Monday, July 17th. Craig Hallum reissued a “buy” rating and issued a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $168.15.

In other news, insider F Samuel Eberts III sold 31,500 shares of Laboratory Corporation of America Holdings stock in a transaction on Friday, August 25th. The stock was sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the sale, the insider now directly owns 31,894 shares in the company, valued at approximately $4,950,586.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David P. King sold 44,687 shares of Laboratory Corporation of America Holdings stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total value of $7,009,602.82. Following the sale, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders have sold a total of 222,968 shares of company stock worth $34,980,922 over the last quarter. Company insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings (LH) traded down 0.44% during mid-day trading on Friday, reaching $149.60. 235,835 shares of the company’s stock traded hands. The company has a 50 day moving average price of $153.32 and a 200-day moving average price of $148.90. The stock has a market cap of $15.23 billion, a P/E ratio of 20.95 and a beta of 0.92. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.36 EPS. On average, analysts anticipate that Laboratory Corporation of America Holdings will post $9.53 EPS for the current year.

Laboratory Corporation of America Holdings Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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