Russell Investments Group Ltd. Buys 15,183 Shares of Laboratory Corp. of America Holdings (LH)

Russell Investments Group Ltd. boosted its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 12.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,429 shares of the medical research company’s stock after purchasing an additional 15,183 shares during the period. Russell Investments Group Ltd. owned about 0.14% of Laboratory Corp. of America worth $24,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LH. LPL Financial LLC boosted its position in Laboratory Corp. of America by 30.1% during the first quarter. LPL Financial LLC now owns 5,311 shares of the medical research company’s stock valued at $859,000 after acquiring an additional 1,230 shares during the last quarter. Principal Financial Group Inc. boosted its position in Laboratory Corp. of America by 6.7% during the first quarter. Principal Financial Group Inc. now owns 312,531 shares of the medical research company’s stock valued at $50,552,000 after acquiring an additional 19,572 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Laboratory Corp. of America by 0.8% during the first quarter. Allianz Asset Management GmbH now owns 313,729 shares of the medical research company’s stock valued at $50,745,000 after acquiring an additional 2,403 shares during the last quarter. DnB Asset Management AS boosted its position in Laboratory Corp. of America by 6.5% during the second quarter. DnB Asset Management AS now owns 13,174 shares of the medical research company’s stock valued at $2,365,000 after acquiring an additional 800 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Laboratory Corp. of America by 74.1% during the second quarter. IFM Investors Pty Ltd now owns 3,203 shares of the medical research company’s stock valued at $575,000 after acquiring an additional 1,363 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

A number of analysts have commented on LH shares. Canaccord Genuity reaffirmed a “buy” rating and set a $200.00 price target on shares of Laboratory Corp. of America in a research report on Tuesday, July 24th. SunTrust Banks reaffirmed a “buy” rating and set a $220.00 price target on shares of Laboratory Corp. of America in a research report on Friday, July 20th. Argus reaffirmed a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, August 22nd. Morgan Stanley upped their price target on shares of Laboratory Corp. of America from $192.00 to $202.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Finally, Craig Hallum cut their price target on shares of Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating on the stock in a research report on Wednesday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $192.19.

LH stock opened at $162.48 on Monday. The stock has a market cap of $16.39 billion, a PE ratio of 16.93, a P/E/G ratio of 1.54 and a beta of 1.00. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 0.83. Laboratory Corp. of America Holdings has a 1 year low of $147.70 and a 1 year high of $190.35.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. Laboratory Corp. of America’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. As a group, sell-side analysts expect that Laboratory Corp. of America Holdings will post 11.33 EPS 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 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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