ClariVest Asset Management LLC lowered its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 234,500 shares of the medical research company’s stock after selling 7,720 shares during the period. Laboratory Corporation of America Holdings makes up 0.8% of ClariVest Asset Management LLC’s holdings, making the stock its 29th largest position. ClariVest Asset Management LLC’s holdings in Laboratory Corporation of America Holdings were worth $36,146,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake 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. IFP Advisors Inc boosted its stake in Laboratory Corporation of America Holdings by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after buying an additional 523 shares during the period. Ingalls & Snyder LLC bought a new stake in Laboratory Corporation of America Holdings during the first quarter valued at $206,000. Oppenheimer Asset Management Inc. bought a new stake in Laboratory Corporation of America Holdings during the first quarter valued at $208,000. Finally, TNB Financial bought a new stake in Laboratory Corporation of America Holdings during the second quarter valued at $208,000. Hedge funds and other institutional investors own 91.89% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 156.21 on Friday. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 21.88 and a beta of 0.94. The firm has a 50-day moving average of $155.35 and a 200-day moving average of $144.27.

Laboratory Corporation of America Holdings (NYSE:LH) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. The company 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%. Laboratory Corporation of America Holdings’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.36 earnings per share. Equities research analysts forecast that Laboratory Corporation of America Holdings will post $9.51 EPS for the current fiscal year.

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Several analysts have recently weighed in on the stock. 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. BidaskClub cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. ValuEngine cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Credit Suisse Group cut 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 given a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings presently has an average rating of “Buy” and an average target price of $159.00.

In other Laboratory Corporation of America Holdings news, CFO Glenn A. Eisenberg sold 5,968 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $951,657.28. Following the transaction, the chief financial officer now owns 18,122 shares in the company, valued at $2,889,734.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the business’s stock in a transaction on 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. In the last ninety days, insiders have sold 14,581 shares of company stock worth $2,256,899. 0.90% of the stock is owned by insiders.

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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