Tocqueville Asset Management L.P. decreased its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 33,408 shares of the medical research company’s stock after selling 809 shares during the period. Tocqueville Asset Management L.P.’s holdings in Laboratory Corp. of America were worth $5,802,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LH. First Republic Investment Management Inc. increased its holdings in Laboratory Corp. of America by 6.9% during the 3rd quarter. First Republic Investment Management Inc. now owns 20,594 shares of the medical research company’s stock worth $3,577,000 after purchasing an additional 1,325 shares in the last quarter. Accident Compensation Corp increased its holdings in Laboratory Corp. of America by 2.3% during the 3rd quarter. Accident Compensation Corp now owns 37,881 shares of the medical research company’s stock worth $6,579,000 after purchasing an additional 850 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Laboratory Corp. of America by 8.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 5,643 shares of the medical research company’s stock worth $980,000 after purchasing an additional 429 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Laboratory Corp. of America by 11.8% during the 3rd quarter. Renaissance Technologies LLC now owns 621,705 shares of the medical research company’s stock worth $107,978,000 after purchasing an additional 65,600 shares in the last quarter. Finally, Tekla Capital Management LLC bought a new position in Laboratory Corp. of America during the 3rd quarter worth about $2,119,000. Institutional investors own 91.68% of the company’s stock.

In related news, Director R Sanders Williams sold 350 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the sale, the director now directly owns 7,886 shares in the company, valued at approximately $1,278,636.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 3,700 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $163.29, for a total transaction of $604,173.00. Following the completion of the sale, the director now owns 21,795 shares of the company’s stock, valued at $3,558,905.55. The disclosure for this sale can be found here. Company insiders own 0.73% of the company’s stock.

LH has been the subject of a number of research reports. Citigroup lowered their target price on Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Bank of America initiated coverage on shares of Laboratory Corp. of America in a research note on Friday, October 19th. They set a “buy” rating for the company. Canaccord Genuity restated a “hold” rating and set a $155.00 price objective (down from $162.00) on shares of Laboratory Corp. of America in a research note on Sunday, December 2nd. Finally, Goldman Sachs Group downgraded shares of Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and reduced their price objective for the stock from $190.00 to $180.00 in a research note on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $179.69.

Laboratory Corp. of America stock opened at $141.96 on Friday. Laboratory Corp. of America Holdings has a one year low of $139.18 and a one year high of $190.35. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44. The stock has a market cap of $14.49 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts expect that Laboratory Corp. of America Holdings will post 10.99 earnings per share for the current fiscal year.

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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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