Eqis Capital Management Inc. Raises Stake in Laboratory Corporation of America Holdings (NYSE:LH)

Eqis Capital Management Inc. raised its position in Laboratory Corporation of America Holdings (NYSE:LH) by 90.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,534 shares of the medical research company’s stock after buying an additional 5,480 shares during the quarter. Eqis Capital Management Inc.’s holdings in Laboratory Corporation of America Holdings were worth $1,741,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC grew its holdings in shares of Laboratory Corporation of America Holdings by 139.9% during the 1st quarter. Teachers Advisors LLC now owns 445,372 shares of the medical research company’s stock valued at $63,898,000 after purchasing an additional 259,709 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Laboratory Corporation of America Holdings during the 1st quarter valued at approximately $4,481,000. Marshall Wace North America L.P. acquired a new stake in Laboratory Corporation of America Holdings during the 1st quarter worth approximately $4,481,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in Laboratory Corporation of America Holdings by 2.2% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,853 shares of the medical research company’s stock worth $1,414,000 after buying an additional 210 shares during the period. Finally, Vanguard Group Inc. boosted its position in Laboratory Corporation of America Holdings by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after buying an additional 259,182 shares during the period. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Corporation of America Holdings (NYSE LH) traded up 1.31% during midday trading on Friday, reaching $155.40. 910,744 shares of the company’s stock traded hands. The stock has a market cap of $15.82 billion, a PE ratio of 21.76 and a beta of 0.92. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The stock’s 50 day moving average price is $152.43 and its 200-day moving average price is $149.31.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company earned $2.25 earnings per share. Laboratory Corporation of America Holdings’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts predict that Laboratory Corporation of America Holdings will post $9.52 earnings per share for the current year.

In related news, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 3,100 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $156.88, for a total value of $486,328.00. Following the transaction, the director now owns 10,073 shares in the company, valued at approximately $1,580,252.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,968 shares of company stock worth $34,980,922. Company insiders own 0.90% of the company’s stock.

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Several equities research analysts recently commented on the stock. Barclays PLC lifted their target price on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. SunTrust Banks, Inc. restated a “buy” rating and issued a $190.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Thursday, October 12th. Robert W. Baird reiterated a “hold” rating and set a $150.00 target price on shares of Laboratory Corporation of America Holdings in a research report on Friday. Finally, ValuEngine downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $169.00.

Laboratory Corporation of America Holdings Company 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).

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

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