Cornerstone Capital Management Holdings LLC. Has $3.05 Million Stake in Laboratory Corp. of America Holdings (LH)

Cornerstone Capital Management Holdings LLC. lifted its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,140 shares of the medical research company’s stock after acquiring an additional 1,709 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Laboratory Corp. of America were worth $3,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Zions Bancorporation raised its holdings in Laboratory Corp. of America by 7,444.4% in the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after buying an additional 670 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Laboratory Corp. of America in the 4th quarter valued at about $182,000. Weik Capital Management purchased a new stake in Laboratory Corp. of America in the 4th quarter valued at about $200,000. Hourglass Capital LLC purchased a new stake in Laboratory Corp. of America in the 4th quarter valued at about $207,000. Finally, Teacher Retirement System of Texas purchased a new stake in Laboratory Corp. of America in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 92.32% of the company’s stock.

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Laboratory Corp. of America Holdings (NYSE LH) opened at $162.49 on Monday. Laboratory Corp. of America Holdings has a 52-week low of $134.19 and a 52-week high of $181.71. The company has a market capitalization of $16,557.73, a PE ratio of 13.31, a PEG ratio of 1.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.31.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Tuesday, February 6th. The medical research company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.07. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the company posted $2.15 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. research analysts predict that Laboratory Corp. of America Holdings will post 11.54 EPS for the current year.

LH has been the topic of several research analyst reports. Robert W. Baird set a $183.00 price objective on shares of Laboratory Corp. of America and gave the company a “hold” rating in a report on Thursday, February 8th. Zacks Investment Research downgraded Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Barclays reaffirmed a “buy” rating and issued a $195.00 target price on shares of Laboratory Corp. of America in a research report on Wednesday, December 13th. Morgan Stanley lifted their target price on Laboratory Corp. of America from $182.00 to $192.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $176.00 target price on shares of Laboratory Corp. of America in a research report on Tuesday, March 6th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and a consensus price target of $189.19.

In related news, Director Adam H. Schechter sold 1,263 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $169.29, for a total value of $213,813.27. Following the completion of the transaction, the director now directly owns 7,297 shares of the company’s stock, valued at $1,235,309.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 8,400 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $167.36, for a total value of $1,405,824.00. Following the completion of the transaction, the chief financial officer now directly owns 15,931 shares of the company’s stock, valued at $2,666,212.16. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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Laboratory Corp. of America 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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Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

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