JLB & Associates Inc. acquired a new position in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,713 shares of the medical research company’s stock, valued at approximately $2,576,000.

Several other hedge funds also recently bought and sold shares of the stock. Parallel Advisors LLC increased its position in Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after buying an additional 997 shares during the period. TNB Financial acquired a new position in Laboratory Corporation of America Holdings during the second quarter valued at $208,000. Union Bankshares Corp acquired a new position in Laboratory Corporation of America Holdings during the second quarter valued at $211,000. Indiana Trust & Investment Management CO acquired a new position in Laboratory Corporation of America Holdings during the first quarter valued at $202,000. Finally, Ingalls & Snyder LLC acquired a new position in Laboratory Corporation of America Holdings during the first quarter valued at $206,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings (NYSE LH) opened at 158.65 on Friday. The stock has a market capitalization of $16.25 billion, a P/E ratio of 22.22 and a beta of 0.94. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22. The stock has a 50 day moving average price of $151.97 and a 200-day moving average price of $143.06.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Laboratory Corporation of America Holdings will post $9.50 EPS for the current year.

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Several research firms recently weighed in on LH. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Craig Hallum reiterated a “buy” rating and set a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Barclays PLC increased their target price on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Credit Suisse Group downgraded Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 target price on the stock. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Finally, BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Laboratory Corporation of America Holdings has a consensus rating of “Buy” and an average target price of $158.42.

In other Laboratory Corporation of America Holdings news, SVP Lance Berberian sold 3,613 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the transaction, the senior vice president now owns 5,789 shares in the company, valued at $809,533.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Insiders sold 15,573 shares of company stock worth $2,397,952 in the last 90 days. Corporate insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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

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