Tandem Investment Advisors Inc. Boosts Stock Holdings in Laboratory Corp. of America Holdings (NYSE:LH)

Tandem Investment Advisors Inc. boosted its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,470 shares of the medical research company’s stock after buying an additional 344 shares during the period. Tandem Investment Advisors Inc.’s holdings in Laboratory Corp. of America were worth $2,570,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of LH. Melvin Capital Management LP increased its stake in Laboratory Corp. of America by 37.1% during the 1st quarter. Melvin Capital Management LP now owns 2,570,950 shares of the medical research company’s stock worth $324,942,000 after buying an additional 695,317 shares in the last quarter. Alliancebernstein L.P. increased its stake in Laboratory Corp. of America by 319.1% during the 1st quarter. Alliancebernstein L.P. now owns 648,390 shares of the medical research company’s stock worth $81,950,000 after buying an additional 493,682 shares in the last quarter. Wellington Management Group LLP increased its stake in Laboratory Corp. of America by 72.6% during the 1st quarter. Wellington Management Group LLP now owns 961,899 shares of the medical research company’s stock worth $121,575,000 after buying an additional 404,600 shares in the last quarter. FDx Advisors Inc. increased its stake in Laboratory Corp. of America by 13,173.7% during the 1st quarter. FDx Advisors Inc. now owns 300,782 shares of the medical research company’s stock worth $503,000 after buying an additional 298,516 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC purchased a new stake in Laboratory Corp. of America during the 2nd quarter worth approximately $39,482,000. Institutional investors own 88.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Laboratory Corp. of America from a “strong-buy” rating to a “hold” rating and set a $206.00 price target for the company. in a research report on Friday. Mizuho upped their price target on Laboratory Corp. of America from $186.00 to $215.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank upped their price target on Laboratory Corp. of America from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday. BofA Securities upgraded Laboratory Corp. of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $194.00 to $220.00 in a research report on Tuesday, July 14th. Finally, Morgan Stanley upped their price target on Laboratory Corp. of America from $241.00 to $244.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Laboratory Corp. of America currently has an average rating of “Buy” and an average target price of $214.44.

NYSE:LH traded down $1.92 during trading hours on Friday, reaching $192.92. 640,071 shares of the stock were exchanged, compared to its average volume of 789,565. The company has a quick ratio of 1.07, a current ratio of 1.12 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average of $177.01 and a two-hundred day moving average of $167.49. Laboratory Corp. of America Holdings has a twelve month low of $98.02 and a twelve month high of $206.74. The company has a market capitalization of $18.75 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.70 and a beta of 1.38.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Tuesday, July 28th. The medical research company reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $1.79. Laboratory Corp. of America had a return on equity of 14.39% and a net margin of 3.16%. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the firm earned $2.93 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts forecast that Laboratory Corp. of America Holdings will post 13.19 EPS for the current fiscal year.

In other news, EVP Der Vaart Sandra D. Van sold 435 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total value of $73,950.00. Following the sale, the executive vice president now directly owns 4,044 shares in the company, valued at $687,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Sanders Williams sold 1,300 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $173.12, for a total value of $225,056.00. Following the completion of the sale, the director now owns 6,395 shares in the company, valued at $1,107,102.40. The disclosure for this sale can be found here. Insiders have sold 2,607 shares of company stock worth $438,814 over the last 90 days. 0.70% of the stock is owned by insiders.

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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