Private Advisor Group LLC Has $1.03 Million Stake in Laboratory Corp. of America Holdings (LH)

Private Advisor Group LLC increased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 63.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,938 shares of the medical research company’s stock after buying an additional 2,309 shares during the period. Private Advisor Group LLC’s holdings in Laboratory Corp. of America were worth $1,031,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LH. OppenheimerFunds Inc. increased its position in Laboratory Corp. of America by 113.3% during the second quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock worth $305,341,000 after purchasing an additional 903,554 shares during the last quarter. Egerton Capital UK LLP acquired a new position in Laboratory Corp. of America during the second quarter worth approximately $150,989,000. BlackRock Inc. increased its position in Laboratory Corp. of America by 9.1% during the second quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock worth $1,563,937,000 after purchasing an additional 729,038 shares during the last quarter. Redmile Group LLC acquired a new position in Laboratory Corp. of America during the second quarter worth approximately $51,776,000. Finally, Acadian Asset Management LLC increased its position in Laboratory Corp. of America by 56.0% during the third quarter. Acadian Asset Management LLC now owns 391,667 shares of the medical research company’s stock worth $68,023,000 after purchasing an additional 140,623 shares during the last quarter. 92.66% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently commented on LH shares. Deutsche Bank dropped their price target on shares of Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating for the company in a research report on Monday, August 20th. Robert W. Baird dropped their price target on shares of Laboratory Corp. of America from $205.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Mizuho reaffirmed a “neutral” rating on shares of Laboratory Corp. of America in a research report on Wednesday, September 19th. Canaccord Genuity lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $162.00 in a research report on Thursday, October 25th. Finally, Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Laboratory Corp. of America has an average rating of “Buy” and an average price target of $192.19.

LH opened at $164.30 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. Laboratory Corp. of America Holdings has a 52-week low of $147.70 and a 52-week high of $190.35. The company has a market cap of $16.58 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 1.54 and a beta of 1.00.

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

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

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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.

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

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