Sheaff Brock Investment Advisors LLC increased its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 70.4% during the third quarter, Holdings Channel reports. The fund owned 8,469 shares of the medical research company’s stock after acquiring an additional 3,500 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Laboratory Corp. of America were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of LH. Principal Financial Group Inc. increased its holdings in shares of Laboratory Corp. of America by 6.7% during the 1st quarter. Principal Financial Group Inc. now owns 312,531 shares of the medical research company’s stock worth $50,552,000 after acquiring an additional 19,572 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Laboratory Corp. of America by 6.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,509 shares of the medical research company’s stock worth $2,964,000 after acquiring an additional 982 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Laboratory Corp. of America by 70.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 9,190 shares of the medical research company’s stock valued at $1,650,000 after buying an additional 3,812 shares in the last quarter. Amalgamated Bank grew its holdings in Laboratory Corp. of America by 4.6% in the 2nd quarter. Amalgamated Bank now owns 13,291 shares of the medical research company’s stock valued at $2,386,000 after buying an additional 590 shares in the last quarter. Finally, LS Investment Advisors LLC grew its holdings in Laboratory Corp. of America by 113.0% in the 2nd quarter. LS Investment Advisors LLC now owns 9,881 shares of the medical research company’s stock valued at $1,774,000 after buying an additional 5,241 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

LH opened at $164.01 on Monday. The firm has a market cap of $16.58 billion, a PE ratio of 17.08, a P/E/G ratio of 1.54 and a beta of 1.00. Laboratory Corp. of America Holdings has a 52-week low of $147.70 and a 52-week high of $190.35. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 0.83.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. Equities analysts forecast that Laboratory Corp. of America Holdings will post 11.33 earnings per share for the current year.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the stock in a transaction on Monday, November 5th. The stock was sold at an average price of $163.29, for a total transaction of $604,173.00. Following the sale, the director now directly owns 21,795 shares of the company’s stock, valued at approximately $3,558,905.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

A number of brokerages have commented on LH. Morgan Stanley upped their price objective on Laboratory Corp. of America from $192.00 to $202.00 and gave the company a “buy” rating in a report on Monday, September 10th. Jefferies Financial Group reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Mizuho reaffirmed a “hold” rating and issued a $189.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Canaccord Genuity reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. Finally, Argus reaffirmed a “buy” rating on shares of Laboratory Corp. of America in a report on Wednesday, August 22nd. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $192.19.

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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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