Laboratory Corporation of America Holdings (LH) Stake Increased by Strs Ohio

Strs Ohio increased its position in Laboratory Corporation of America Holdings (NYSE:LH) by 3.4% during the second quarter, Holdings Channel reports. The firm owned 13,446 shares of the medical research company’s stock after buying an additional 448 shares during the period. Strs Ohio’s holdings in Laboratory Corporation of America Holdings were worth $2,072,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Regentatlantic Capital LLC boosted its stake in Laboratory Corporation of America Holdings by 0.5% in the second quarter. Regentatlantic Capital LLC now owns 1,696 shares of the medical research company’s stock worth $261,000 after buying an additional 8 shares during the period. Endurance Wealth Management Inc. boosted its stake in Laboratory Corporation of America Holdings by 0.7% in the first quarter. Endurance Wealth Management Inc. now owns 1,510 shares of the medical research company’s stock worth $217,000 after buying an additional 10 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Laboratory Corporation of America Holdings by 0.6% in the first quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock worth $346,000 after buying an additional 15 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Laboratory Corporation of America Holdings by 0.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,143 shares of the medical research company’s stock worth $594,000 after buying an additional 31 shares during the period. Finally, Intrust Bank NA boosted its stake in Laboratory Corporation of America Holdings by 1.1% in the first quarter. Intrust Bank NA now owns 4,065 shares of the medical research company’s stock worth $583,000 after buying an additional 43 shares during the period. Institutional investors own 91.89% of the company’s stock.

Laboratory Corporation of America Holdings (NYSE LH) opened at 156.40 on Friday. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 21.90 and a beta of 0.94. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22. The stock’s 50 day moving average is $155.18 and its 200 day moving average is $144.10.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.40 by $0.07. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.36 earnings per share. Equities research analysts forecast that Laboratory Corporation of America Holdings will post $9.51 EPS for the current fiscal year.

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A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research note on Thursday. Craig Hallum reiterated a “buy” rating and issued a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Credit Suisse Group cut shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 target price for the company. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reiterated an “overweight” rating and issued a $182.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, July 17th. Finally, BidaskClub upgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $159.00.

In related news, CFO Glenn A. Eisenberg sold 5,968 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total transaction of $951,657.28. Following the completion of the sale, the chief financial officer now directly owns 18,122 shares of the company’s stock, valued at $2,889,734.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Lance Berberian sold 3,613 shares of the 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 of the company’s stock, valued at $809,533.76. The disclosure for this sale can be found here. Insiders sold 14,581 shares of company stock valued at $2,256,899 over the last three months. Corporate insiders own 0.90% of the company’s stock.

About Laboratory Corporation of America Holdings

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

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