Neuberger Berman Group LLC lifted its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 46.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,926 shares of the medical research company’s stock after purchasing an additional 6,910 shares during the quarter. Neuberger Berman Group LLC’s holdings in Laboratory Corporation of America Holdings were worth $3,380,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after purchasing an additional 259,182 shares in the last quarter. BlackRock Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 3,602.5% during the 1st quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after purchasing an additional 7,856,297 shares in the last quarter. State Street Corp boosted its position in shares of Laboratory Corporation of America Holdings by 2.4% during the 1st quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock worth $665,669,000 after purchasing an additional 109,170 shares in the last quarter. Boston Partners boosted its position in shares of Laboratory Corporation of America Holdings by 4.8% during the 2nd quarter. Boston Partners now owns 4,590,372 shares of the medical research company’s stock worth $707,560,000 after purchasing an additional 210,138 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Laboratory Corporation of America Holdings by 17.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,327,629 shares of the medical research company’s stock worth $190,477,000 after purchasing an additional 197,434 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on LH shares. 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. Barclays PLC increased their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group reaffirmed a “buy” rating and issued a $146.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Finally, Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $164.00.

In related news, CEO David P. King sold 132,713 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider F Samuel Eberts III sold 31,500 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the sale, the insider now directly owns 31,894 shares in the company, valued at approximately $4,950,586.68. The disclosure for this sale can be found here. Insiders have sold 222,968 shares of company stock worth $34,980,922 in the last three months. 0.90% of the stock is currently owned by insiders.

Laboratory Corporation of America Holdings (LH) opened at 155.21 on Thursday. The company has a market cap of $15.80 billion, a PE ratio of 21.74 and a beta of 0.94. The company has a 50-day moving average of $157.04 and a 200 day moving average of $147.47. 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 announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the company earned $2.36 earnings per share. Laboratory Corporation of America Holdings’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Laboratory Corporation of America Holdings will post $9.53 earnings per share for the current fiscal year.

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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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