Foster Dykema Cabot & Co. Inc. MA cut its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 34.1% during the second quarter, Holdings Channel reports. The fund owned 2,952 shares of the medical research company’s stock after selling 1,525 shares during the period. Foster Dykema Cabot & Co. Inc. MA’s holdings in Laboratory Corporation of America Holdings were worth $455,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Amsterdam Partners LLC NY raised its stake in Laboratory Corporation of America Holdings by 0.7% in the second quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock valued at $593,000 after buying an additional 27 shares during the last quarter. Grisanti Capital Management LLC raised its stake in Laboratory Corporation of America Holdings by 32.8% in the second quarter. Grisanti Capital Management LLC now owns 56,831 shares of the medical research company’s stock valued at $8,759,000 after buying an additional 14,041 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in 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 during the last quarter. First Trust Advisors LP raised its stake in 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 during the last quarter. Finally, Boston Partners raised its stake in 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 during the last quarter. 91.89% of the stock is owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings (NYSE:LH) opened at 156.21 on Friday. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22. The firm’s 50-day moving average price is $155.35 and its 200 day moving average price is $144.27. The stock has a market capitalization of $15.90 billion, a P/E ratio of 21.88 and a beta of 0.94.

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 for the quarter, topping 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 business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company earned $2.36 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts anticipate that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

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Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a research note on Thursday. Barclays PLC increased their price target on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Craig Hallum reiterated a “buy” rating and issued a $179.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Finally, Credit Suisse Group downgraded Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target on the stock. in a 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 issued a buy rating and one has given a strong buy rating to the company. Laboratory Corporation of America Holdings currently has a consensus rating of “Buy” and a consensus target price of $159.00.

In related news, SVP Lance Berberian sold 3,613 shares of the stock in a transaction on 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 of the company’s stock, valued at $809,533.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction on 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 14,581 shares of company stock worth $2,256,899 in the last three months. 0.90% of the stock is currently owned by corporate 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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