Murphy Capital Management Inc. Decreases Holdings in Laboratory Corp. of America Holdings (LH)

Murphy Capital Management Inc. cut its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 15.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,675 shares of the medical research company’s stock after selling 300 shares during the quarter. Murphy Capital Management Inc.’s holdings in Laboratory Corp. of America were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Laboratory Corp. of America by 7,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after buying an additional 633 shares during the last quarter. Fort L.P. acquired a new stake in shares of Laboratory Corp. of America during the 2nd quarter valued at about $118,000. Squar Milner Financial Services LLC acquired a new stake in shares of Laboratory Corp. of America during the 2nd quarter valued at about $150,000. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of Laboratory Corp. of America during the 2nd quarter valued at about $166,000. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Laboratory Corp. of America during the 1st quarter valued at about $155,000. Hedge funds and other institutional investors own 92.37% of the company’s stock.

Shares of LH stock opened at $169.86 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. Laboratory Corp. of America Holdings has a twelve month low of $147.27 and a twelve month high of $190.35. The company has a market capitalization of $17.70 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.74 and a beta of 0.97.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.06. Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the business earned $2.47 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, research analysts forecast that Laboratory Corp. of America Holdings will post 11.52 EPS for the current year.

Several equities research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Laboratory Corp. of America from $192.00 to $202.00 and gave the company a “buy” rating in a report on Monday, September 10th. Jefferies Financial Group reiterated a “neutral” rating and set a $180.00 price target on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Mizuho reiterated a “hold” rating and set a $189.00 price target on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Canaccord Genuity reiterated a “buy” rating and set a $200.00 price target on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. Finally, ValuEngine lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $197.44.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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