UBS Asset Management Americas Inc. boosted its holdings in Laboratory Corporation of America Holdings (NYSE:LH) by 70.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,543,126 shares of the medical research company’s stock after acquiring an additional 637,848 shares during the quarter. UBS Asset Management Americas Inc. owned about 1.52% of Laboratory Corporation of America Holdings worth $237,857,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock valued at $1,158,430,000 after purchasing an additional 7,856,297 shares during the last quarter. Schroder Investment Management Group grew its holdings in Laboratory Corporation of America Holdings by 1,337.1% in the second quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock valued at $130,885,000 after purchasing an additional 800,902 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Laboratory Corporation of America Holdings by 139.4% in the first quarter. JPMorgan Chase & Co. now owns 677,069 shares of the medical research company’s stock valued at $97,139,000 after purchasing an additional 394,247 shares during the last quarter. Bessemer Group Inc. grew its holdings in Laboratory Corporation of America Holdings by 43.6% in the second quarter. Bessemer Group Inc. now owns 1,288,017 shares of the medical research company’s stock valued at $198,535,000 after purchasing an additional 391,145 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH grew its holdings in Laboratory Corporation of America Holdings by 901.1% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 335,545 shares of the medical research company’s stock valued at $8,748,000 after purchasing an additional 302,028 shares during the last quarter. Hedge funds and other institutional investors own 93.19% of the company’s stock.

Several analysts have weighed in on LH shares. Craig Hallum reissued a “buy” rating and issued a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Credit Suisse Group reaffirmed a “buy” rating and set a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Sunday, May 28th. Morgan Stanley increased 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, August 10th. BidaskClub raised Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Laboratory Corporation of America Holdings in a research note on Sunday. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and an average price target of $164.00.

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Shares of Laboratory Corporation of America Holdings (NYSE LH) traded down 0.576% during midday trading on Tuesday, reaching $152.865. The company’s stock had a trading volume of 155,571 shares. The stock has a market capitalization of $15.56 billion, a P/E ratio of 21.410 and a beta of 0.94. The stock’s 50-day moving average is $156.42 and its 200 day moving average is $147.81. 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 posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.36 EPS. On average, analysts expect that Laboratory Corporation of America Holdings will post $9.54 earnings per share for the current fiscal year.

In other Laboratory Corporation of America Holdings news, CEO David P. King sold 44,687 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total value of $7,009,602.82. Following the completion of the transaction, the chief executive officer now owns 258,753 shares of the company’s stock, valued at approximately $40,587,995.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider F Samuel Eberts III sold 31,500 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $155.22, for a total value of $4,889,430.00. Following the completion of the transaction, the insider now directly owns 31,894 shares of the company’s stock, valued at approximately $4,950,586.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 222,968 shares of company stock valued at $34,980,922. Insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings 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).

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

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