Laboratory Corp. of America Holdings (LH) Shares Bought by Bbva Compass Bancshares Inc.

Bbva Compass Bancshares Inc. grew its position in Laboratory Corp. of America Holdings (NYSE:LH) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 11,082 shares of the medical research company’s stock after buying an additional 490 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Laboratory Corp. of America were worth $1,924,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Laboratory Corp. of America by 9.1% in the second quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock valued at $1,563,937,000 after purchasing an additional 729,038 shares in the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of Laboratory Corp. of America by 4.0% in the second quarter. Iridian Asset Management LLC CT now owns 1,758,908 shares of the medical research company’s stock valued at $315,777,000 after purchasing an additional 67,987 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in shares of Laboratory Corp. of America by 113.3% in the second quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock valued at $305,341,000 after purchasing an additional 903,554 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Laboratory Corp. of America by 1.2% in the second quarter. Bessemer Group Inc. now owns 1,113,356 shares of the medical research company’s stock valued at $199,880,000 after purchasing an additional 13,293 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Laboratory Corp. of America by 7.5% in the second quarter. Jennison Associates LLC now owns 974,351 shares of the medical research company’s stock valued at $174,925,000 after purchasing an additional 67,926 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

LH opened at $164.73 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. Laboratory Corp. of America Holdings has a 52 week low of $147.70 and a 52 week high of $190.35. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.54 and a beta of 1.00.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm posted $2.46 EPS. Laboratory Corp. of America’s revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Laboratory Corp. of America Holdings will post 11.33 EPS for the current year.

A number of brokerages recently weighed in on LH. Bank of America began coverage on shares of Laboratory Corp. of America in a report on Friday, October 19th. They issued a “buy” rating for the company. SunTrust Banks reissued a “buy” rating and issued a $220.00 price target on shares of Laboratory Corp. of America in a report on Friday, July 20th. Mizuho reissued a “hold” rating and issued a $189.00 price target on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Citigroup lowered their price target on shares of Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Finally, William Blair reissued an “outperform” rating on shares of Laboratory Corp. of America in a report on Wednesday, October 24th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Laboratory Corp. of America currently has an average rating of “Buy” and a consensus price target of $192.19.

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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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