Andra AP fonden cut its position in Laboratory Corp. of America Holdings (NYSE:LH) by 20.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,000 shares of the medical research company’s stock after selling 10,600 shares during the quarter. Andra AP fonden’s holdings in Laboratory Corp. of America were worth $7,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Laboratory Corp. of America by 7,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 633 shares during the last quarter. Fort L.P. bought a new position in Laboratory Corp. of America during the 2nd quarter valued at $118,000. Squar Milner Financial Services LLC bought a new position in Laboratory Corp. of America during the 2nd quarter valued at $150,000. Mount Yale Investment Advisors LLC bought a new position in Laboratory Corp. of America during the 1st quarter valued at $155,000. Finally, LeJeune Puetz Investment Counsel LLC bought a new position in Laboratory Corp. of America during the 2nd quarter valued at $166,000. Institutional investors and hedge funds own 92.37% of the company’s stock.

Shares of NYSE:LH traded up $1.61 on Friday, reaching $169.86. 795,576 shares of the company’s stock were exchanged, compared to its average volume of 703,193. The stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. Laboratory Corp. of America Holdings has a fifty-two week low of $147.27 and a fifty-two week high of $190.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.42.

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

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Laboratory Corp. of America from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Monday, September 10th. Jefferies Financial Group reiterated a “neutral” rating and set a $180.00 price objective on shares of Laboratory Corp. of America in a research note on Thursday, July 26th. Mizuho reiterated a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a research note on Thursday, July 26th. Canaccord Genuity reiterated a “buy” rating and set a $200.00 price objective on shares of Laboratory Corp. of America in a research note on Tuesday, July 24th. Finally, ValuEngine cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $197.44.

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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