Traders bought shares of Laboratory Corp. of America Holdings (NYSE:LH) on weakness during trading on Thursday. $38.63 million flowed into the stock on the tick-up and $27.40 million flowed out of the stock on the tick-down, for a money net flow of $11.23 million into the stock. Of all companies tracked, Laboratory Corp. of America Holdings had the 21st highest net in-flow for the day. Laboratory Corp. of America Holdings traded down ($0.04) for the day and closed at $140.09

A number of research analysts have recently weighed in on the company. Morgan Stanley restated a “buy” rating on shares of Laboratory Corp. of America Holdings in a research report on Monday, May 2nd. Mizuho raised their price objective on Laboratory Corp. of America Holdings from $119.00 to $132.00 and gave the company a “neutral” rating in a research report on Tuesday, April 26th. Evercore ISI raised their price objective on Laboratory Corp. of America Holdings from $147.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Canaccord Genuity raised their price objective on Laboratory Corp. of America Holdings from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 26th. Finally, KeyCorp restated a “buy” rating and set a $143.00 price objective on shares of Laboratory Corp. of America Holdings in a research report on Sunday, May 22nd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $138.15.

The firm’s 50 day moving average is $134.04 and its 200-day moving average is $121.87. The company has a market capitalization of $14.33 billion and a PE ratio of 23.26.

Laboratory Corp. of America Holdings (NYSE:LH) last released its quarterly earnings results on Wednesday, July 27th. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.01. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the company earned $2.09 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that Laboratory Corp. of America Holdings will post $8.82 EPS for the current fiscal year.

In related news, CEO David P. King sold 196,400 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $128.00, for a total transaction of $25,139,200.00. Following the completion of the sale, the chief executive officer now owns 271,210 shares of the company’s stock, valued at approximately $34,714,880. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

A number of hedge funds have made changes to their positions in the stock. Mutual of America Capital Management LLC boosted its stake in Laboratory Corp. of America Holdings by 0.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 11,272 shares of the company’s stock valued at $1,394,000 after buying an additional 61 shares during the period. Advantus Capital Management Inc boosted its stake in Laboratory Corp. of America Holdings by 3.5% in the fourth quarter. Advantus Capital Management Inc now owns 9,796 shares of the company’s stock valued at $1,211,000 after buying an additional 332 shares during the period. US Bancorp DE boosted its stake in Laboratory Corp. of America Holdings by 1.3% in the fourth quarter. US Bancorp DE now owns 41,958 shares of the company’s stock valued at $5,187,000 after buying an additional 555 shares during the period. KBC Group NV boosted its stake in Laboratory Corp. of America Holdings by 14.9% in the fourth quarter. KBC Group NV now owns 11,077 shares of the company’s stock valued at $1,370,000 after buying an additional 1,437 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Laboratory Corp. of America Holdings by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 9,223 shares of the company’s stock valued at $1,140,000 after buying an additional 1,549 shares during the period.

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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