Sumitomo Mitsui Trust Holdings Inc. lowered its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,812 shares of the medical research company’s stock after selling 3,869 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.29% of Laboratory Corporation of America Holdings worth $44,810,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allen Investment Management LLC boosted its holdings in shares of Laboratory Corporation of America Holdings by 5.9% during the 3rd quarter. Allen Investment Management LLC now owns 776,000 shares of the medical research company’s stock worth $117,153,000 after buying an additional 43,202 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Laboratory Corporation of America Holdings by 2.1% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 25,439 shares of the medical research company’s stock worth $3,841,000 after buying an additional 518 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Laboratory Corporation of America Holdings during the third quarter worth about $516,000. Veritas Investment Management LLP increased its holdings in Laboratory Corporation of America Holdings by 22.1% during the third quarter. Veritas Investment Management LLP now owns 284,698 shares of the medical research company’s stock worth $42,978,000 after buying an additional 51,445 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Laboratory Corporation of America Holdings during the third quarter worth about $210,000. 92.96% of the stock is owned by institutional investors and hedge funds.

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In other Laboratory Corporation of America Holdings news, insider F Samuel Eberts III sold 31,500 shares of Laboratory Corporation of America Holdings 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 completion of the sale, the insider now directly owns 31,894 shares in the company, valued at $4,950,586.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David P. King sold 132,713 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total transaction of $20,843,903.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,871 shares of company stock valued at $32,892,005. 0.90% of the stock is currently owned by company insiders.

A number of research firms recently issued reports on LH. Barclays PLC raised their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $190.00 target price on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. Robert W. Baird reiterated a “hold” rating and issued a $150.00 target price on shares of Laboratory Corporation of America Holdings in a research note on Friday, October 27th. Finally, ValuEngine downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Laboratory Corporation of America Holdings has a consensus rating of “Buy” and an average target price of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded up $0.36 during trading on Tuesday, reaching $150.72. 1,371,700 shares of the company’s stock traded hands, compared to its average volume of 722,335. Laboratory Corporation of America Holdings has a twelve month low of $123.36 and a twelve month high of $164.22. The company has a market capitalization of $15,400.00, a price-to-earnings 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 (NYSE:LH) last announced its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business posted $2.25 earnings per share. Laboratory Corporation of America Holdings’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts anticipate that Laboratory Corporation of America Holdings will post 9.53 EPS for the current year.

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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