Sei Investments Co. increased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,197 shares of the medical research company’s stock after buying an additional 7,817 shares during the period. Sei Investments Co. owned about 0.12% of Laboratory Corporation of America Holdings worth $18,988,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. Chevy Chase Trust Holdings Inc. increased its position in shares of Laboratory Corporation of America Holdings by 3.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 168,164 shares of the medical research company’s stock valued at $24,123,000 after buying an additional 4,952 shares during the last quarter. Indiana Trust & Investment Management CO bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $202,000. Raymond James Trust N.A. increased its position in shares of Laboratory Corporation of America Holdings by 29.0% in the first quarter. Raymond James Trust N.A. now owns 3,115 shares of the medical research company’s stock valued at $447,000 after buying an additional 701 shares during the last quarter. Forte Capital LLC ADV increased its position in shares of Laboratory Corporation of America Holdings by 4.7% in the first quarter. Forte Capital LLC ADV now owns 30,156 shares of the medical research company’s stock valued at $4,326,000 after buying an additional 1,340 shares during the last quarter. Finally, Sheets Smith Wealth Management bought a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at approximately $215,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Corporation of America Holdings (NYSE:LH) opened at 158.65 on Friday. The stock has a 50 day moving average price of $151.97 and a 200 day moving average price of $143.06. The company has a market capitalization of $16.25 billion, a price-to-earnings 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.

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

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LH has been the topic of several recent research reports. Zacks Investment Research downgraded Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Jefferies Group LLC cut their target price on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Credit Suisse Group reaffirmed a “buy” rating and set a $146.00 target price on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. ValuEngine downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Finally, BidaskClub downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $158.42.

In related news, CFO Glenn A. Eisenberg sold 5,968 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the transaction, the chief financial officer now directly owns 18,122 shares in the company, valued at approximately $2,889,734.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Insiders have sold 15,573 shares of company stock valued at $2,397,952 over the last quarter. Company 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).

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

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