Eagle Asset Management Inc. raised its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 324.5% during the third quarter, Holdings Channel reports. The institutional investor owned 118,002 shares of the company’s stock after buying an additional 90,203 shares during the period. Eagle Asset Management Inc.’s holdings in Laboratory Corp. of America Holdings were worth $16,222,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Laboratory Corp. of America Holdings by 6.6% in the first quarter. Wellington Management Group LLP now owns 145,405 shares of the company’s stock valued at $17,031,000 after buying an additional 8,947 shares during the period. Nuveen Asset Management LLC increased its position in Laboratory Corp. of America Holdings by 130.2% in the first quarter. Nuveen Asset Management LLC now owns 13,625 shares of the company’s stock valued at $1,596,000 after buying an additional 7,707 shares during the period. Squarepoint Ops LLC increased its position in Laboratory Corp. of America Holdings by 175.6% in the first quarter. Squarepoint Ops LLC now owns 14,942 shares of the company’s stock valued at $1,750,000 after buying an additional 9,521 shares during the period. BNP Paribas Arbitrage SA increased its position in Laboratory Corp. of America Holdings by 10.3% in the second quarter. BNP Paribas Arbitrage SA now owns 29,636 shares of the company’s stock valued at $3,861,000 after buying an additional 2,757 shares during the period. Finally, Integrated Investment Consultants LLC increased its position in Laboratory Corp. of America Holdings by 56.3% in the second quarter. Integrated Investment Consultants LLC now owns 938 shares of the company’s stock valued at $122,000 after buying an additional 338 shares during the period. 91.24% of the stock is currently owned by institutional investors.

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

Shares of Laboratory Corp. of America Holdings (NYSE:LH) traded down 1.61% during trading on Wednesday, reaching $125.66. 119,999 shares of the company were exchanged. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 19.93 and a beta of 0.96. The company has a 50 day moving average price of $129.54 and a 200-day moving average price of $133.00. Laboratory Corp. of America Holdings has a one year low of $97.79 and a one year high of $141.32.

Laboratory Corp. of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.29 by $0.04. The company earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Laboratory Corp. of America Holdings had a net margin of 6.85% and a return on equity of 16.97%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.07 earnings per share. Equities analysts predict that Laboratory Corp. of America Holdings will post $8.78 EPS for the current year.

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Several analysts recently commented on LH shares. KeyCorp raised their price target on shares of Laboratory Corp. of America Holdings from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Zacks Investment Research cut shares of Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Barclays PLC set a $155.00 price target on shares of Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a report on Monday, August 29th. Citigroup Inc. started coverage on shares of Laboratory Corp. of America Holdings in a report on Friday, September 9th. They set a “neutral” rating and a $156.00 price target for the company. They noted that the move was a valuation call. Finally, Mizuho raised their price target on shares of Laboratory Corp. of America Holdings from $132.00 to $145.00 and gave the stock a “neutral” rating in a report on Thursday, September 15th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Laboratory Corp. of America Holdings currently has an average rating of “Buy” and an average price target of $143.13.

About Laboratory Corp. of America Holdings

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).

5 Day Chart for NYSE:LH

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