Morningstar Investment Services LLC lowered its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,160 shares of the medical research company’s stock after selling 241 shares during the period. Morningstar Investment Services LLC owned approximately 0.07% of Laboratory Corp. of America worth $11,439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Laboratory Corp. of America by 2.6% in the 1st quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock worth $1,534,283,000 after acquiring an additional 257,173 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Laboratory Corp. of America by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 1,615,327 shares of the medical research company’s stock worth $276,172,000 after purchasing an additional 38,691 shares during the period. FMR LLC grew its stake in shares of Laboratory Corp. of America by 81.4% in the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock worth $244,257,000 after purchasing an additional 716,703 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Laboratory Corp. of America by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,093 shares of the medical research company’s stock worth $178,140,000 after purchasing an additional 111,859 shares during the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Laboratory Corp. of America by 17.5% during the 1st quarter. Lazard Asset Management LLC now owns 1,137,166 shares of the medical research company’s stock valued at $173,963,000 after purchasing an additional 169,233 shares during the period. Hedge funds and other institutional investors own 91.17% of the company’s stock.

LH has been the subject of several research analyst reports. Mizuho increased their price objective on Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. KeyCorp boosted their target price on Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Barclays set a $200.00 target price on Laboratory Corp. of America and gave the company a “buy” rating in a research note on Monday, July 15th. Bank of America upgraded Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price for the company in a report on Tuesday, July 16th. Finally, Morgan Stanley raised their price target on Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $185.91.

Shares of NYSE:LH traded down $0.79 during midday trading on Wednesday, reaching $173.33. The company’s stock had a trading volume of 18,554 shares, compared to its average volume of 499,309. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $167.23 and a 200-day moving average of $162.75. The firm has a market capitalization of $16.85 billion, a P/E ratio of 15.72, a PEG ratio of 1.78 and a beta of 1.04. Laboratory Corp. of America Holdings has a 12-month low of $119.38 and a 12-month high of $178.44.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. Laboratory Corp. of America’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.98 earnings per share. On average, research analysts predict that Laboratory Corp. of America Holdings will post 11.28 EPS for the current year.

In other news, CFO Glenn A. Eisenberg sold 5,563 shares of Laboratory Corp. of America stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $983,260.25. Following the completion of the transaction, the chief financial officer now owns 17,059 shares of the company’s stock, valued at approximately $3,015,178.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Der Vaart Sandra D. Van sold 2,328 shares of Laboratory Corp. of America stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $176.75, for a total value of $411,474.00. Following the completion of the transaction, the senior vice president now directly owns 2,328 shares of the company’s stock, valued at approximately $411,474. The disclosure for this sale can be found here. Insiders have sold 19,859 shares of company stock valued at $3,421,092 over the last quarter. Company insiders own 0.74% of the company’s stock.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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