Andra AP fonden Invests $7.63 Million in Laboratory Corp. of America Holdings (NYSE:LH) Stock

Andra AP fonden purchased a new stake in Laboratory Corp. of America Holdings (NYSE:LH) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 49,900 shares of the medical research company’s stock, valued at approximately $7,634,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in shares of Laboratory Corp. of America by 0.8% in the third quarter. Vanguard Group Inc now owns 10,823,667 shares of the medical research company’s stock valued at $1,879,854,000 after acquiring an additional 85,785 shares in the last quarter. BlackRock Inc. grew its stake in shares of Laboratory Corp. of America by 2.6% in the first quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock valued at $1,534,283,000 after buying an additional 257,173 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Laboratory Corp. of America by 7.3% in the fourth quarter. Nordea Investment Management AB now owns 2,120,509 shares of the medical research company’s stock valued at $267,945,000 after buying an additional 143,426 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Laboratory Corp. of America by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,460,214 shares of the medical research company’s stock valued at $184,501,000 after buying an additional 34,797 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in 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 valued at $178,140,000 after purchasing an additional 111,859 shares during the period. Institutional investors own 91.56% of the company’s stock.

In other news, Director R Sanders Williams sold 500 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $162.20, for a total transaction of $81,100.00. Following the completion of the sale, the director now owns 7,386 shares of the company’s stock, valued at $1,198,009.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 10,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $167.40, for a total value of $1,674,000.00. Following the completion of the sale, the chief financial officer now directly owns 28,366 shares of the company’s stock, valued at approximately $4,748,468.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,200 shares of company stock worth $3,026,410. Insiders own 0.74% of the company’s stock.

LH opened at $166.61 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $190.07. The company has a market capitalization of $16.62 billion, a PE ratio of 15.12, a P/E/G ratio of 1.73 and a beta of 1.04.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.09. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. Laboratory Corp. of America’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.78 EPS. On average, analysts expect that Laboratory Corp. of America Holdings will post 11.27 earnings per share for the current year.

LH has been the subject of a number of recent analyst reports. Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Thursday, May 16th. Mizuho boosted their price target on Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. TheStreet upgraded Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research report on Friday, May 3rd. Canaccord Genuity boosted their price target on Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Finally, Citigroup increased their price target on Laboratory Corp. of America from $157.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $179.33.

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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 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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