Avalon Advisors LLC grew its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 5.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,277 shares of the medical research company’s stock after purchasing an additional 1,051 shares during the period. Avalon Advisors LLC’s holdings in Laboratory Corp. of America were worth $2,689,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Laboratory Corp. of America by 6.9% in the fourth quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock valued at $1,234,806,000 after acquiring an additional 633,105 shares in the last quarter. Rehmann Capital Advisory Group grew 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 valued at $1,062,784,000 after acquiring an additional 541,355 shares in the last quarter. Brandes Investment Partners LP grew its holdings in shares of Laboratory Corp. of America by 559.8% in the fourth quarter. Brandes Investment Partners LP now owns 345,870 shares of the medical research company’s stock valued at $43,703,000 after acquiring an additional 293,453 shares in the last quarter. Morgan Stanley grew 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 valued at $174,843,000 after acquiring an additional 237,918 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew 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 valued at $31,969,000 after acquiring an additional 220,000 shares in the last quarter. 88.80% of the stock is owned by hedge funds and other institutional investors.

LH has been the subject of several recent analyst reports. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Goldman Sachs Group lowered Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and reduced their target price for the company from $190.00 to $180.00 in a report on Friday, November 30th. ValuEngine lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Saturday, December 1st. Canaccord Genuity reaffirmed a “hold” rating and issued a $155.00 target price (down from $162.00) on shares of Laboratory Corp. of America in a report on Sunday, December 2nd. Finally, Craig Hallum lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Monday, December 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $176.07.

In related news, Director R Sanders Williams sold 1,038 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total value of $152,586.00. Following the transaction, the director now owns 8,924 shares in the company, valued at $1,311,828. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.73% of the stock is currently owned by corporate insiders.

Laboratory Corp. of America stock opened at $154.36 on Friday. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month 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 capitalization of $15.07 billion, a P/E ratio of 14.01, a PEG ratio of 1.72 and a beta of 1.15.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, beating the consensus estimate 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 business 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 earnings per share. Laboratory Corp. of America’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that Laboratory Corp. of America Holdings will post 11.22 earnings per share for the current year.

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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.

Further Reading: Ex-Dividend

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

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