Janney Montgomery Scott LLC boosted its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 30.0% during the second quarter, Holdings Channel reports. The fund owned 6,709 shares of the medical research company’s stock after buying an additional 1,548 shares during the period. Janney Montgomery Scott LLC’s holdings in Laboratory Corporation of America Holdings were worth $1,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IBM Retirement Fund boosted its position in shares of Laboratory Corporation of America Holdings by 34.9% in the second quarter. IBM Retirement Fund now owns 1,535 shares of the medical research company’s stock worth $237,000 after buying an additional 397 shares during the last quarter. NGAM Advisors L.P. boosted its position in shares of Laboratory Corporation of America Holdings by 15.8% in the second quarter. NGAM Advisors L.P. now owns 21,045 shares of the medical research company’s stock worth $3,244,000 after buying an additional 2,864 shares during the last quarter. John G Ullman & Associates Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 4.3% in the second quarter. John G Ullman & Associates Inc. now owns 2,892 shares of the medical research company’s stock worth $446,000 after buying an additional 118 shares during the last quarter. Beck Mack & Oliver LLC boosted its position in shares of Laboratory Corporation of America Holdings by 2.1% in the second quarter. Beck Mack & Oliver LLC now owns 528,517 shares of the medical research company’s stock worth $81,466,000 after buying an additional 11,025 shares during the last quarter. Finally, Cubic Asset Management LLC boosted its position in shares of Laboratory Corporation of America Holdings by 2.4% in the second quarter. Cubic Asset Management LLC now owns 6,005 shares of the medical research company’s stock worth $926,000 after buying an additional 140 shares during the last quarter. 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 firm has a 50-day moving average price of $155.35 and a 200-day moving average price of $144.27. The company 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 released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business posted $2.36 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities analysts forecast that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current year.

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A number of research analysts recently commented on the company. Craig Hallum restated a “buy” rating and issued a $179.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Credit Suisse Group cut Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target on the stock. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC restated an “overweight” rating and issued a $182.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Monday, July 17th. BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Finally, Morgan Stanley raised their price target on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and an average target price of $159.00.

In other news, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’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 value of $800,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’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 owns 18,122 shares of the company’s stock, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,581 shares of company stock valued at $2,256,899. 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).

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

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