Mcrae Capital Management Inc. Has $11.10 Million Stock Position in Laboratory Corp. of America Holdings (NYSE:LH)

Mcrae Capital Management Inc. lifted its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,065 shares of the medical research company’s stock after buying an additional 195 shares during the period. Laboratory Corp. of America accounts for approximately 4.3% of Mcrae Capital Management Inc.’s holdings, making the stock its 4th biggest position. Mcrae Capital Management Inc. owned 0.07% of Laboratory Corp. of America worth $11,099,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in Laboratory Corp. of America in the 2nd quarter worth about $32,000. Legacy Advisors LLC bought a new position in Laboratory Corp. of America in the 2nd quarter worth about $33,000. C M Bidwell & Associates Ltd. grew its position in Laboratory Corp. of America by 1,636.4% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock worth $33,000 after purchasing an additional 180 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Laboratory Corp. of America in the 2nd quarter worth about $33,000. Finally, Private Ocean LLC grew its position in Laboratory Corp. of America by 54.3% in the 2nd quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock worth $36,000 after purchasing an additional 75 shares during the last quarter. 90.37% of the stock is owned by institutional investors and hedge funds.

LH stock traded up $1.36 on Tuesday, hitting $169.40. 1,687 shares of the company’s stock traded hands, compared to its average volume of 563,470. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $178.44. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 1.87 and a beta of 1.03. The stock has a fifty day moving average of $168.94 and a 200-day moving average of $166.26. 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 released its earnings results on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business earned $2.98 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current fiscal year.

LH has been the subject of several recent analyst reports. UBS Group decreased their target price on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research report on Monday. Bank of America upgraded shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price objective for the company in a report on Tuesday, July 16th. Morgan Stanley increased 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. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price objective for the company in a report on Wednesday, October 9th. Finally, Barclays set a $200.00 price objective on shares of Laboratory Corp. of America and gave the company a “buy” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $184.91.

In related news, Director Kerrii B. Anderson sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.85, for a total value of $446,810.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the completion of the sale, the director now owns 6,886 shares of the company’s stock, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,468 shares of company stock valued at $1,946,168. Company insiders own 0.74% of the company’s stock.

Laboratory Corp. of America 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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