Montag & Caldwell LLC decreased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 59.6% during the second quarter, Holdings Channel reports. The institutional investor owned 3,794 shares of the medical research company’s stock after selling 5,590 shares during the period. Montag & Caldwell LLC’s holdings in Laboratory Corporation of America Holdings were worth $585,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LH. DekaBank Deutsche Girozentrale boosted its position in shares of Laboratory Corporation of America Holdings by 8.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 65,583 shares of the medical research company’s stock valued at $10,105,000 after buying an additional 4,925 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Laboratory Corporation of America Holdings by 17.4% in the second quarter. First Trust Advisors LP now owns 210,820 shares of the medical research company’s stock valued at $32,496,000 after buying an additional 31,296 shares in the last quarter. Boston Partners boosted its position in shares of Laboratory Corporation of America Holdings by 4.8% in the second quarter. Boston Partners now owns 4,590,372 shares of the medical research company’s stock valued at $707,560,000 after buying an additional 210,138 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 335,506 shares of the medical research company’s stock valued at $51,715,000 after buying an additional 19,779 shares in the last quarter. Finally, Montgomery Investment Management Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 1.1% in the second quarter. Montgomery Investment Management Inc. now owns 9,210 shares of the medical research company’s stock valued at $1,420,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 91.89% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (LH) traded up 0.16% during mid-day trading on Friday, reaching $156.65. 24,704 shares of the company’s stock were exchanged. The stock has a market capitalization of $15.95 billion, a PE ratio of 21.94 and a beta of 0.94. The company’s 50 day moving average is $155.18 and its 200 day moving average is $144.10. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings data 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. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $2.36 earnings per share. Equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.51 EPS for the current fiscal year.

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Several brokerages have recently weighed in on LH. Morgan Stanley lifted their price target on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays PLC raised their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Craig Hallum restated a “buy” rating and set a $179.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Finally, Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective on the stock. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Laboratory Corporation of America Holdings has a consensus rating of “Buy” and a consensus price target of $159.00.

In other news, SVP Lance Berberian sold 3,613 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $139.84, for a total value of $505,241.92. Following the completion of the sale, the senior vice president now directly owns 5,789 shares in the company, valued at $809,533.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were 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. Over the last ninety days, insiders have sold 14,581 shares of company stock worth $2,256,899. Insiders own 0.90% of the company’s stock.

About Laboratory Corporation of America Holdings

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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