Foster Dykema Cabot & Co. Inc. MA grew its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 43.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,394 shares of the medical research company’s stock after purchasing an additional 730 shares during the period. Foster Dykema Cabot & Co. Inc. MA’s holdings in Laboratory Corp. of America were worth $303,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LH. Rehmann Capital Advisory Group increased its holdings in shares of Laboratory Corp. of America by 16,859.4% in the third quarter. Rehmann Capital Advisory Group now owns 544,566 shares of the medical research company’s stock worth $1,062,784,000 after buying an additional 541,355 shares during the period. BlackRock Inc. increased its holdings in shares of Laboratory Corp. of America by 4.9% in the third quarter. BlackRock Inc. now owns 9,139,008 shares of the medical research company’s stock worth $1,587,262,000 after buying an additional 427,716 shares during the period. Morgan Stanley increased its holdings in shares of Laboratory Corp. of America by 30.9% in the third quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock worth $174,843,000 after buying an additional 237,918 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Laboratory Corp. of America by 666.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 253,000 shares of the medical research company’s stock worth $31,969,000 after buying an additional 220,000 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Laboratory Corp. of America by 14.9% in the third quarter. JPMorgan Chase & Co. now owns 1,645,798 shares of the medical research company’s stock worth $285,845,000 after buying an additional 213,849 shares during the period. 91.97% of the stock is owned by hedge funds and other institutional investors.

LH stock opened at $144.68 on Monday. Laboratory Corp. of America Holdings has a fifty-two week low of $119.38 and a fifty-two week high of $190.35. The company has a current ratio of 1.51, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87. The company has a market cap of $14.61 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.64 and a beta of 1.13.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, February 7th. The medical research company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the business earned $2.45 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Laboratory Corp. of America Holdings will post 11.21 EPS for the current year.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total transaction of $56,749.00. Following the transaction, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on the company. UBS Group set a $178.00 price target on Laboratory Corp. of America and gave the company a “buy” rating in a report on Friday. Zacks Investment Research downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Friday, February 1st. TheStreet downgraded Laboratory Corp. of America from a “b-” rating to a “c+” rating in a report on Friday, January 11th. ValuEngine downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Finally, Bank of America downgraded Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a report on Thursday, January 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $178.27.

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Laboratory Corp. of America 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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