Cannell Peter B & Co. Inc. cut its holdings in Laboratory Corporation of America Holdings (NYSE:LH) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,179 shares of the medical research company’s stock after selling 3,535 shares during the period. Cannell Peter B & Co. Inc. owned approximately 0.14% of Laboratory Corporation of America Holdings worth $21,465,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Laboratory Corporation of America Holdings by 235.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,814 shares of the medical research company’s stock worth $10,540,000 after purchasing an additional 48,994 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Laboratory Corporation of America Holdings by 19.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,333 shares of the medical research company’s stock worth $1,711,000 after purchasing an additional 1,870 shares during the last quarter. Cipher Capital LP bought a new stake in Laboratory Corporation of America Holdings in the third quarter worth $3,201,000. Check Capital Management Inc. CA raised its stake in shares of Laboratory Corporation of America Holdings by 95.2% during the third quarter. Check Capital Management Inc. CA now owns 526,500 shares of the medical research company’s stock valued at $79,486,000 after acquiring an additional 256,802 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Laboratory Corporation of America Holdings during the third quarter valued at about $1,229,000. 92.96% of the stock is owned by institutional investors and hedge funds.

Shares of Laboratory Corporation of America Holdings (NYSE LH) traded up $0.36 on Tuesday, reaching $150.72. 1,371,700 shares of the company’s stock were exchanged, compared to its average volume of 722,335. The stock has a market capitalization of $15,400.00, a PE ratio of 16.17, a PEG ratio of 1.59 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. Laboratory Corporation of America Holdings has a twelve month low of $123.36 and a twelve month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.25 earnings per share. sell-side analysts forecast that Laboratory Corporation of America Holdings will post 9.53 EPS for the current fiscal year.

LH has been the subject of several recent analyst reports. Craig Hallum reaffirmed a “buy” rating and set a $179.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Robert W. Baird reiterated a “hold” rating and set a $166.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Tuesday, October 17th. Wells Fargo & Company assumed coverage on shares of Laboratory Corporation of America Holdings in a research report on Thursday, October 12th. They set an “outperform” rating and a $175.00 price target on the stock. Morgan Stanley boosted their price target on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, October 10th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $169.00.

In other news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the sale, the director now owns 3,501 shares in the company, valued at $537,473.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider F Samuel Eberts III sold 31,500 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the sale, the insider now owns 31,894 shares in the company, valued at approximately $4,950,586.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 209,871 shares of company stock worth $32,892,005. Corporate insiders own 0.90% of the company’s stock.

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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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