Traders purchased shares of Laboratory Corp. of America Holdings (NYSE:LH) on weakness during trading hours 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 equities 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

LH has been the topic of several recent research reports. SunTrust Banks Inc. reaffirmed a “buy” rating on shares of Laboratory Corp. of America Holdings in a report on Thursday, July 28th. Canaccord Genuity set a $155.00 price objective on Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a report on Thursday, July 28th. Evercore ISI upped their price objective on Laboratory Corp. of America Holdings from $147.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 27th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $143.00 price objective (up from $135.00) on shares of Laboratory Corp. of America Holdings in a report on Thursday, June 9th. Finally, Zacks Investment Research raised Laboratory Corp. of America Holdings from a “hold” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Tuesday, May 17th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Laboratory Corp. of America Holdings presently has an average rating of “Buy” and a consensus price target of $138.15.

The stock has a 50-day moving average price of $134.42 and a 200-day moving average price of $122.00. The stock has a market cap of $14.40 billion and a price-to-earnings ratio of 23.37.

Laboratory Corp. of America Holdings (NYSE:LH) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $2.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.01. During the same period in the previous year, the firm posted $2.09 earnings per share. The firm earned $2.40 billion during the quarter, compared to analyst estimates of $2.33 billion. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts forecast that Laboratory Corp. of America Holdings will post $8.82 earnings per share for the current fiscal year.

In other news, CEO David P. King sold 196,400 shares of Laboratory Corp. of America Holdings stock in a transaction on Monday, June 13th. The stock was sold at an average price of $128.00, for a total value of $25,139,200.00. Following the completion of the sale, the chief executive officer now directly owns 271,210 shares of the company’s stock, valued at $34,714,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

A number of hedge funds and institutional investors recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position 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 last quarter. Principal Financial Group Inc. raised its position in shares of Laboratory Corp. of America Holdings by 1.6% in the fourth quarter. Principal Financial Group Inc. now owns 148,777 shares of the company’s stock valued at $18,395,000 after buying an additional 2,337 shares during the period. Aberdeen Asset Management PLC UK raised its position in shares of Laboratory Corp. of America Holdings by 21.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 24,860 shares of the company’s stock valued at $2,723,000 after buying an additional 4,366 shares during the period. Victory Capital Management Inc. raised its position in shares of 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. Finally, Advantus Capital Management Inc raised its position in shares of 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.

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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