Webster Bank N. A. increased its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,055 shares of the company’s stock after buying an additional 1,019 shares during the period. Webster Bank N. A.’s holdings in Laboratory Corp. of America Holdings were worth $3,582,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Laboratory Corp. of America Holdings by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,406,648 shares of the company’s stock valued at $1,225,404,000 after buying an additional 463,343 shares during the last quarter. Boston Partners increased its position in shares of Laboratory Corp. of America Holdings by 78.5% in the second quarter. Boston Partners now owns 3,555,298 shares of the company’s stock valued at $463,149,000 after buying an additional 1,563,105 shares during the last quarter. Nordea Investment Management AB increased its stake in Laboratory Corp. of America Holdings by 0.7% in the second quarter. Nordea Investment Management AB now owns 2,906,174 shares of the company’s stock valued at $378,587,000 after buying an additional 19,479 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Laboratory Corp. of America Holdings by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,821,861 shares of the company’s stock valued at $367,604,000 after buying an additional 20,507 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in Laboratory Corp. of America Holdings by 8.1% in the second quarter. BlackRock Fund Advisors now owns 2,584,736 shares of the company’s stock valued at $336,714,000 after buying an additional 194,168 shares during the last quarter. Hedge funds and other institutional investors own 91.24% of the company’s stock.

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

Shares of Laboratory Corp. of America Holdings (NYSE:LH) traded down 1.46% during mid-day trading on Wednesday, hitting $125.85. The stock had a trading volume of 720,015 shares. Laboratory Corp. of America Holdings has a one year low of $97.79 and a one year high of $141.32. The firm has a 50 day moving average of $129.22 and a 200-day moving average of $133.01. The stock has a market cap of $12.96 billion, a P/E ratio of 19.96 and a beta of 0.96.

Laboratory Corp. of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by $0.04. The firm earned $2.40 billion during the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. Equities research analysts expect that Laboratory Corp. of America Holdings will post $8.78 earnings per share for the current fiscal year.

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A number of equities research analysts have issued reports on the company. Canaccord Genuity set a $140.00 price target on Laboratory Corp. of America Holdings and gave the company a “buy” rating in a research note on Sunday, October 30th. Citigroup Inc. assumed coverage on Laboratory Corp. of America Holdings in a research note 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. Zacks Investment Research downgraded Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. KeyCorp boosted their price target on Laboratory Corp. of America Holdings from $143.00 to $150.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. Finally, Barclays PLC set a $155.00 price target on Laboratory Corp. of America Holdings and gave the company a “buy” rating in a research note on Monday, August 29th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company 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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