Mason Street Advisors LLC Cuts Position in Laboratory Corp. of America Holdings (NYSE:LH)

Mason Street Advisors LLC lessened its position in Laboratory Corp. of America Holdings (NYSE:LH) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,919 shares of the medical research company’s stock after selling 129 shares during the period. Mason Street Advisors LLC’s holdings in Laboratory Corp. of America were worth $2,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Laboratory Corp. of America by 2.5% in the second quarter. JPMorgan Chase & Co. now owns 1,615,327 shares of the medical research company’s stock worth $276,172,000 after buying an additional 38,691 shares in the last quarter. Invesco Ltd. lifted its position in Laboratory Corp. of America by 93.4% during the second quarter. Invesco Ltd. now owns 1,184,747 shares of the medical research company’s stock valued at $204,844,000 after purchasing an additional 572,088 shares during the period. Iridian Asset Management LLC CT lifted its position in Laboratory Corp. of America by 9.9% during the second quarter. Iridian Asset Management LLC CT now owns 1,030,089 shares of the medical research company’s stock valued at $178,102,000 after purchasing an additional 92,997 shares during the period. Nuveen Asset Management LLC lifted its position in Laboratory Corp. of America by 10,436.0% during the second quarter. Nuveen Asset Management LLC now owns 1,022,410 shares of the medical research company’s stock valued at $176,775,000 after purchasing an additional 1,012,706 shares during the period. Finally, Allen Investment Management LLC lifted its position in Laboratory Corp. of America by 5.5% during the second quarter. Allen Investment Management LLC now owns 1,008,774 shares of the medical research company’s stock valued at $174,417,000 after purchasing an additional 52,887 shares during the period. Hedge funds and other institutional investors own 91.02% of the company’s stock.

In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of Laboratory Corp. of America stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.85, for a total value of $446,810.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David P. King sold 30,177 shares of Laboratory Corp. of America stock in a transaction on Monday, October 28th. The stock was sold at an average price of $165.40, for a total transaction of $4,991,275.80. The disclosure for this sale can be found here. Insiders have sold 41,145 shares of company stock valued at $6,855,988 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

A number of brokerages recently weighed in on LH. UBS Group lowered their price objective on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. KeyCorp increased their price target on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Canaccord Genuity reiterated a “hold” rating and issued a $170.00 price target on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price target on the stock in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Laboratory Corp. of America presently has a consensus rating of “Buy” and an average target price of $184.90.

LH traded up $1.33 during trading on Friday, hitting $170.73. 7,915 shares of the company traded hands, compared to its average volume of 552,661. The company has a market cap of $16.13 billion, a PE ratio of 15.50, a P/E/G ratio of 1.86 and a beta of 1.01. The stock’s 50-day simple moving average is $166.61 and its two-hundred day simple moving average is $167.71. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $178.44. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.85 by $0.05. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Laboratory Corp. of America had a net margin of 6.63% and a return on equity of 15.33%. Laboratory Corp. of America’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company posted $2.74 earnings per share. Equities analysts expect that Laboratory Corp. of America Holdings will post 11.26 EPS for the current year.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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