Eqis Capital Management Inc. lifted its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 90.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,534 shares of the medical research company’s stock after purchasing an additional 5,480 shares during the period. Eqis Capital Management Inc.’s holdings in Laboratory Corporation of America Holdings were worth $1,741,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC grew its holdings in shares of Laboratory Corporation of America Holdings by 16.5% in the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after purchasing an additional 100 shares during the last quarter. Sun Life Financial INC lifted its stake in Laboratory Corporation of America Holdings by 9,200.0% in the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock worth $115,000 after acquiring an additional 736 shares during the period. Parallel Advisors LLC lifted its stake in Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock worth $177,000 after acquiring an additional 997 shares during the period. IFP Advisors Inc lifted its stake in Laboratory Corporation of America Holdings by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after acquiring an additional 523 shares during the period. Finally, Hourglass Capital LLC purchased a new stake in Laboratory Corporation of America Holdings in the second quarter worth about $200,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded up 2.145% during trading on Thursday, hitting $151.165. 292,569 shares of the company traded hands. The stock has a market capitalization of $15.39 billion, a PE ratio of 21.172 and a beta of 0.92. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22. The company has a 50-day moving average of $152.98 and a 200-day moving average of $149.02.

Laboratory Corporation of America Holdings (NYSE:LH) last issued 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 analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the business earned $2.36 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts expect that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

A number of analysts recently weighed in on LH shares. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday, September 13th. Morgan Stanley upped their price objective on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, September 11th. Finally, ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Laboratory Corporation of America Holdings currently has a consensus rating of “Buy” and a consensus target price of $170.31.

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In related news, Director R Sanders Williams sold 3,100 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $156.88, for a total transaction of $486,328.00. Following the transaction, the director now owns 10,073 shares of the company’s stock, valued at $1,580,252.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s 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 quarter, insiders sold 222,968 shares of company stock valued at $34,980,922. 0.90% of the stock is owned by company insiders.

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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