Laboratory Corp. of America Holdings (LH) Position Raised by LPL Financial LLC

LPL Financial LLC increased its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,081 shares of the medical research company’s stock after purchasing an additional 290 shares during the quarter. LPL Financial LLC’s holdings in Laboratory Corp. of America were worth $652,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA acquired a new stake in shares of Laboratory Corp. of America during the 4th quarter worth about $2,208,000. Renaissance Technologies LLC increased its position in shares of Laboratory Corp. of America by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 750,099 shares of the medical research company’s stock worth $119,648,000 after purchasing an additional 124,294 shares in the last quarter. Lazard Asset Management LLC increased its position in Laboratory Corp. of America by 0.3% in the 4th quarter. Lazard Asset Management LLC now owns 220,458 shares of the medical research company’s stock valued at $35,165,000 after acquiring an additional 618 shares in the last quarter. Tamarack Advisers LP increased its position in Laboratory Corp. of America by 33.3% in the 4th quarter. Tamarack Advisers LP now owns 80,000 shares of the medical research company’s stock valued at $12,761,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Laboratory Corp. of America by 11.5% in the 4th quarter. Deutsche Bank AG now owns 473,335 shares of the medical research company’s stock valued at $75,497,000 after acquiring an additional 48,981 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

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Several research firms have weighed in on LH. ValuEngine cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Craig Hallum restated a “buy” rating and issued a $204.00 price objective (up previously from $180.00) on shares of Laboratory Corp. of America in a research report on Wednesday, February 7th. Goldman Sachs began coverage on shares of Laboratory Corp. of America in a research report on Monday, January 29th. They issued a “buy” rating and a $205.00 price objective for the company. Finally, Citigroup raised their price objective on shares of Laboratory Corp. of America from $161.00 to $184.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $189.19.

Shares of NYSE LH opened at $164.82 on Monday. The stock has a market capitalization of $16,803.31, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.31. Laboratory Corp. of America Holdings has a 1 year low of $134.19 and a 1 year high of $181.71.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.07. The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. Laboratory Corp. of America had a net margin of 12.15% and a return on equity of 16.30%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.15 EPS. analysts expect that Laboratory Corp. of America Holdings will post 11.55 EPS for the current year.

In other news, Director Adam H. Schechter sold 1,263 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $169.29, for a total value of $213,813.27. Following the transaction, the director now owns 7,297 shares of the company’s stock, valued at approximately $1,235,309.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. King sold 49,967 shares of the firm’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $164.75, for a total transaction of $8,232,063.25. Following the completion of the transaction, the chief executive officer now directly owns 231,202 shares in the company, valued at approximately $38,090,529.50. The disclosure for this sale can be found here. Insiders sold a total of 59,630 shares of company stock worth $9,851,701 in the last ninety days. Insiders own 0.73% of the company’s stock.

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Laboratory Corp. of America Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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

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