Zurich Insurance Group Ltd FI grew its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 28.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,290 shares of the medical research company’s stock after purchasing an additional 8,320 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Laboratory Corp. of America were worth $6,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Banco de Sabadell S.A raised its holdings in Laboratory Corp. of America by 150.9% in the 2nd quarter. Banco de Sabadell S.A now owns 31,963 shares of the medical research company’s stock worth $5,738,000 after purchasing an additional 19,225 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Laboratory Corp. of America by 576.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,706 shares of the medical research company’s stock worth $486,000 after purchasing an additional 2,306 shares in the last quarter. Zacks Investment Management raised its holdings in Laboratory Corp. of America by 54.0% in the 2nd quarter. Zacks Investment Management now owns 47,874 shares of the medical research company’s stock worth $8,595,000 after purchasing an additional 16,780 shares in the last quarter. Redmile Group LLC bought a new position in Laboratory Corp. of America in the 2nd quarter worth $51,776,000. Finally, Impax Asset Management LLC bought a new position in Laboratory Corp. of America in the 2nd quarter worth $2,740,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Several brokerages have commented on LH. Barclays upped their price objective on shares of Laboratory Corp. of America from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, May 25th. SunTrust Banks reiterated a “buy” rating and issued a $220.00 price target on shares of Laboratory Corp. of America in a research note on Friday, July 20th. ValuEngine lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Mizuho reiterated a “hold” rating and issued a $189.00 price target on shares of Laboratory Corp. of America in a research note on Thursday, July 26th. Finally, Deutsche Bank lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price target for the company. in a research note on Wednesday, June 27th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Laboratory Corp. of America presently has an average rating of “Buy” and a consensus price target of $196.76.

Shares of Laboratory Corp. of America stock opened at $172.98 on Friday. The stock has a market capitalization of $17.52 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.32. Laboratory Corp. of America Holdings has a 1 year low of $146.68 and a 1 year high of $190.35.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.06. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.85 billion. Laboratory Corp. of America had a net margin of 11.59% and a return on equity of 16.38%. Laboratory Corp. of America’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $2.47 EPS. equities research analysts expect that Laboratory Corp. of America Holdings will post 11.52 earnings per share for the current fiscal year.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

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