Laboratory Corp. of America Holdings (NYSE:LH) Shares Bought by Forte Capital LLC ADV

Forte Capital LLC ADV grew its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 8.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 37,272 shares of the medical research company’s stock after buying an additional 3,024 shares during the period. Laboratory Corp. of America comprises approximately 1.9% of Forte Capital LLC ADV’s holdings, making the stock its 13th biggest position. Forte Capital LLC ADV’s holdings in Laboratory Corp. of America were worth $6,262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LH. Cerebellum GP LLC boosted its position in shares of Laboratory Corp. of America by 24.2% during the 3rd quarter. Cerebellum GP LLC now owns 2,582 shares of the medical research company’s stock valued at $434,000 after acquiring an additional 503 shares during the last quarter. Meridian Financial Partners LLC boosted its position in shares of Laboratory Corp. of America by 10.2% during the 3rd quarter. Meridian Financial Partners LLC now owns 2,505 shares of the medical research company’s stock valued at $412,000 after acquiring an additional 232 shares during the last quarter. North Star Investment Management Corp. acquired a new position in shares of Laboratory Corp. of America during the 3rd quarter valued at about $64,000. State of Alaska Department of Revenue boosted its position in shares of Laboratory Corp. of America by 123.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,712 shares of the medical research company’s stock valued at $10,870,000 after acquiring an additional 35,747 shares during the last quarter. Finally, Webster Bank N. A. boosted its position in shares of Laboratory Corp. of America by 0.5% during the 3rd quarter. Webster Bank N. A. now owns 23,172 shares of the medical research company’s stock valued at $3,893,000 after acquiring an additional 104 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors.

LH traded up $1.88 on Wednesday, hitting $165.36. The company had a trading volume of 296,856 shares, compared to its average volume of 740,895. The firm has a market cap of $16.33 billion, a P/E ratio of 15.01, a PEG ratio of 1.87 and a beta of 1.03. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $178.44. The company’s fifty day moving average price is $168.77 and its 200 day moving average price is $165.42. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.03. The firm 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 revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.98 EPS. On average, analysts predict that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current year.

LH has been the topic of several recent research reports. Barclays set a $200.00 price target on shares of Laboratory Corp. of America and gave the company a “buy” rating in a research report on Monday, July 15th. Deutsche Bank raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $220.00 in a research report on Thursday, June 20th. Bank of America raised shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target on the stock in a research report on Tuesday, July 16th. KeyCorp boosted their price objective on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Morgan Stanley boosted their price objective on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Laboratory Corp. of America presently has a consensus rating of “Buy” and a consensus target price of $184.57.

In other Laboratory Corp. of America news, insider Lisa J. Uthgenannt sold 2,466 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $168.59, for a total transaction of $415,742.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 2,600 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $171.85, for a total transaction of $446,810.00. The disclosure for this sale can be found here. Insiders have sold 11,468 shares of company stock worth $1,946,168 over the last quarter. 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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