Retirement Systems of Alabama raised its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 153.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,689 shares of the medical research company’s stock after buying an additional 76,088 shares during the period. Retirement Systems of Alabama owned about 0.12% of Laboratory Corporation of America Holdings worth $18,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in Laboratory Corporation of America Holdings by 5,992.1% in the second quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock valued at $137,128,000 after purchasing an additional 875,028 shares during the period. Schroder Investment Management Group boosted 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 period. UBS Asset Management Americas Inc. boosted its holdings in Laboratory Corporation of America Holdings by 70.5% in the second quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after purchasing an additional 637,848 shares during the period. Empyrean Capital Partners LP purchased a new position in Laboratory Corporation of America Holdings in the second quarter valued at $92,484,000. Finally, Bessemer Group Inc. boosted 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 period. Institutional investors and hedge funds own 93.54% of the company’s stock.

A number of research analysts recently issued reports on LH shares. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, September 11th. ValuEngine upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. 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. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $190.00 target price on shares of Laboratory Corporation of America Holdings in a report on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $169.00.

Laboratory Corporation of America Holdings (NYSE LH) traded down $1.42 on Wednesday, hitting $148.49. The stock had a trading volume of 107,496 shares, compared to its average volume of 722,362. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75. Laboratory Corporation of America Holdings has a twelve month low of $123.36 and a twelve month high of $164.22. The firm has a market capitalization of $15,360.00, a PE ratio of 16.11, a P/E/G ratio of 1.59 and a beta of 0.87.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the firm earned $2.25 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. equities research analysts forecast that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current fiscal year.

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In related news, Director Dwight Gary Gilliland sold 971 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $153.52, for a total value of $149,067.92. Following the transaction, the director now owns 3,501 shares in the company, valued at approximately $537,473.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David P. King sold 44,687 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were 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 in the company, valued at approximately $40,587,995.58. The disclosure for this sale can be found here. Insiders have sold 209,871 shares of company stock worth $32,892,005 in the last quarter. 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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