Virtu KCG Holdings LLC trimmed its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 82.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,414 shares of the medical research company’s stock after selling 11,348 shares during the quarter. Virtu KCG Holdings LLC’s holdings in Laboratory Corporation of America Holdings were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of LH. BlackRock Inc. raised its position in shares of Laboratory Corporation of America Holdings by 3,602.5% during the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after acquiring an additional 7,856,297 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Laboratory Corporation of America Holdings by 1,337.1% during the second quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock worth $130,885,000 after acquiring an additional 800,902 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Laboratory Corporation of America Holdings by 70.5% during the second quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock worth $237,857,000 after acquiring an additional 637,848 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Laboratory Corporation of America Holdings by 43.6% during the second quarter. Bessemer Group Inc. now owns 1,288,017 shares of the medical research company’s stock worth $198,535,000 after acquiring an additional 391,145 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Laboratory Corporation of America Holdings by 174.8% during the second quarter. Renaissance Technologies LLC now owns 506,405 shares of the medical research company’s stock worth $78,057,000 after acquiring an additional 322,100 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

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Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 149.60 on Monday. The company has a market cap of $15.23 billion, a P/E ratio of 20.95 and a beta of 0.92. The stock’s 50 day moving average price is $153.32 and its 200 day moving average price is $148.94. 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 data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the company earned $2.36 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts forecast that Laboratory Corporation of America Holdings will post $9.53 EPS for the current year.

LH has been the subject of a number of analyst reports. BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Credit Suisse Group downgraded Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 target price for the company. in a report on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reiterated an “overweight” rating and issued a $182.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, July 17th. Craig Hallum reiterated a “buy” rating and issued a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Finally, Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $168.15.

In related news, insider F Samuel Eberts III sold 31,500 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 31,894 shares of the company’s stock, valued at approximately $4,950,586.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings stock in a transaction on Tuesday, August 1st. The stock was 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. In the last ninety days, insiders have sold 222,968 shares of company stock valued at $34,980,922. 0.90% of the stock is owned by corporate insiders.

About Laboratory Corporation of America Holdings

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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