Cypress Capital Group increased its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 25.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,403 shares of the medical research company’s stock after buying an additional 2,947 shares during the quarter. Cypress Capital Group’s holdings in Laboratory Corp. of America were worth $2,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. grew its stake in Laboratory Corp. of America by 9.1% during the 2nd quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock worth $1,563,937,000 after buying an additional 729,038 shares during the last quarter. Iridian Asset Management LLC CT grew its stake in Laboratory Corp. of America by 4.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,758,908 shares of the medical research company’s stock worth $315,777,000 after buying an additional 67,987 shares during the last quarter. OppenheimerFunds Inc. grew its stake in Laboratory Corp. of America by 113.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock worth $305,341,000 after buying an additional 903,554 shares during the last quarter. Bessemer Group Inc. grew its stake in Laboratory Corp. of America by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,113,356 shares of the medical research company’s stock worth $199,880,000 after buying an additional 13,293 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Laboratory Corp. of America by 7.5% during the 2nd quarter. Jennison Associates LLC now owns 974,351 shares of the medical research company’s stock worth $174,925,000 after buying an additional 67,926 shares during the last quarter. Hedge funds and other institutional investors own 92.37% of the company’s stock.

A number of research analysts recently commented on LH shares. Barclays upped their price objective on Laboratory Corp. of America from $210.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday, May 25th. Deutsche Bank downgraded Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price objective for the company. in a research note on Wednesday, June 27th. Credit Suisse Group lowered their price objective on Laboratory Corp. of America from $197.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday, September 4th. Mizuho restated a “hold” rating on shares of Laboratory Corp. of America in a research note on Friday, May 25th. Finally, SunTrust Banks restated a “buy” rating and set a $220.00 price objective on shares of Laboratory Corp. of America in a research note on Friday, July 20th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $196.76.

NYSE:LH opened at $172.98 on Monday. Laboratory Corp. of America Holdings has a 1 year low of $146.68 and a 1 year high of $190.35. The firm has a market capitalization of $17.52 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 0.86.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.06. Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The company had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the prior year, the business posted $2.47 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. sell-side analysts predict that Laboratory Corp. of America Holdings will post 11.52 earnings per share for the current year.

Laboratory Corp. of America Company Profile

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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