Laboratory Corporation of America Holdings (LH) Position Maintained by Utah Retirement Systems

Utah Retirement Systems maintained its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,698 shares of the medical research company’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Laboratory Corporation of America Holdings were worth $2,683,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Horizon Investments LLC acquired a new stake in Laboratory Corporation of America Holdings during the fourth quarter valued at about $673,000. Concentric Wealth Management LLC acquired a new stake in Laboratory Corporation of America Holdings during the fourth quarter valued at about $1,374,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Laboratory Corporation of America Holdings by 1.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,904 shares of the medical research company’s stock valued at $758,000 after buying an additional 61 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Laboratory Corporation of America Holdings during the fourth quarter valued at about $222,000. Finally, Dimensional Fund Advisors LP increased its stake in Laboratory Corporation of America Holdings by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,130,195 shares of the medical research company’s stock valued at $145,094,000 after buying an additional 50,363 shares in the last quarter. Institutional investors and hedge funds own 92.56% of the company’s stock.

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

Shares of Laboratory Corporation of America Holdings (LH) traded up 0.26% during midday trading on Friday, hitting $140.77. The stock had a trading volume of 764,011 shares. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 19.34 and a beta of 0.99. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $146.63. The stock has a 50 day moving average price of $140.42 and a 200-day moving average price of $137.36.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 25th. The medical research company reported $2.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.19 by $0.03. The company had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.41 billion. Laboratory Corporation of America Holdings had a return on equity of 16.99% and a net margin of 7.76%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.02 EPS. Equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.44 earnings per share for the current year.

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LH has been the subject of a number of analyst reports. Barclays PLC boosted their price objective on Laboratory Corporation of America Holdings from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, March 7th. Zacks Investment Research lowered Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. ValuEngine lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Credit Suisse Group restated a “buy” rating and set a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Finally, BidaskClub lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $155.75.

In related news, Director Jean-Luc Belingard sold 992 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $142.19, for a total transaction of $141,052.48. Following the sale, the director now owns 32,935 shares of the company’s stock, valued at approximately $4,683,027.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lance Berberian sold 3,613 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the sale, the senior vice president now directly owns 5,789 shares in the company, valued at approximately $809,533.76. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings Company Profile

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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