Smith Salley & Associates Buys 951 Shares of Laboratory Corp. of America Holdings (LH)

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Smith Salley & Associates increased its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 47,116 shares of the medical research company’s stock after acquiring an additional 951 shares during the period. Laboratory Corp. of America makes up approximately 1.3% of Smith Salley & Associates’ holdings, making the stock its 27th largest holding. Smith Salley & Associates’ holdings in Laboratory Corp. of America were worth $8,183,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. LPL Financial LLC raised its position in shares of Laboratory Corp. of America by 30.1% in the 1st quarter. LPL Financial LLC now owns 5,311 shares of the medical research company’s stock valued at $859,000 after purchasing an additional 1,230 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Laboratory Corp. of America by 6.7% in the 1st quarter. Principal Financial Group Inc. now owns 312,531 shares of the medical research company’s stock valued at $50,552,000 after purchasing an additional 19,572 shares in the last quarter. DnB Asset Management AS raised its position in shares of Laboratory Corp. of America by 6.5% in the 2nd quarter. DnB Asset Management AS now owns 13,174 shares of the medical research company’s stock valued at $2,365,000 after purchasing an additional 800 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of Laboratory Corp. of America by 74.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,203 shares of the medical research company’s stock valued at $575,000 after purchasing an additional 1,363 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in shares of Laboratory Corp. of America by 6.3% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,509 shares of the medical research company’s stock valued at $2,964,000 after purchasing an additional 982 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

LH has been the topic of a number of recent analyst reports. Deutsche Bank cut their target price on Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating on the stock in a research report on Monday, August 20th. Robert W. Baird lowered their price target on Laboratory Corp. of America from $205.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Mizuho reiterated a “neutral” rating on shares of Laboratory Corp. of America in a report on Wednesday, September 19th. Canaccord Genuity downgraded Laboratory Corp. of America from a “buy” rating to a “hold” rating and lowered their price target for the company from $190.00 to $162.00 in a report on Thursday, October 25th. Finally, Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $192.19.

Shares of NYSE LH opened at $170.15 on Friday. Laboratory Corp. of America Holdings has a twelve month low of $147.70 and a twelve month high of $190.35. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $17.25 billion, a PE ratio of 17.72, a PEG ratio of 1.62 and a beta of 1.00.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.14). The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.84 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. Laboratory Corp. of America’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 earnings per share. On average, equities analysts forecast that Laboratory Corp. of America Holdings will post 11.33 EPS for the current year.

In related news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $163.29, for a total transaction of $604,173.00. Following the completion of the transaction, the director now directly owns 21,795 shares in the company, valued at approximately $3,558,905.55. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.73% of the stock is owned by corporate insiders.

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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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