American International Group Inc. increased its position in Laboratory Corporation of America Holdings (NYSE:LH) by 7.0% during the third quarter, Holdings Channel reports. The institutional investor owned 45,461 shares of the company’s stock after buying an additional 2,989 shares during the period. American International Group Inc.’s holdings in Laboratory Corporation of America Holdings were worth $6,250,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in LH. Bartlett & Co. LLC boosted its stake in Laboratory Corporation of America Holdings by 2.2% in the second quarter. Bartlett & Co. LLC now owns 141,528 shares of the company’s stock worth $18,437,000 after buying an additional 2,985 shares in the last quarter. Boston Advisors LLC boosted its stake in Laboratory Corporation of America Holdings by 492.3% in the second quarter. Boston Advisors LLC now owns 86,896 shares of the company’s stock worth $11,320,000 after buying an additional 72,225 shares in the last quarter. Globeflex Capital L P boosted its stake in Laboratory Corporation of America Holdings by 6.2% in the second quarter. Globeflex Capital L P now owns 12,671 shares of the company’s stock worth $1,651,000 after buying an additional 741 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Laboratory Corporation of America Holdings by 30.2% in the third quarter. Bank of New York Mellon Corp now owns 1,314,551 shares of the company’s stock worth $180,725,000 after buying an additional 304,619 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Laboratory Corporation of America Holdings by 0.7% in the third quarter. BlackRock Advisors LLC now owns 721,898 shares of the company’s stock worth $99,247,000 after buying an additional 5,321 shares in the last quarter. 91.23% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded down 0.16% during mid-day trading on Friday, reaching $134.43. The company had a trading volume of 177,737 shares. The stock has a 50 day moving average of $128.19 and a 200-day moving average of $132.99. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 21.32 and a beta of 0.95. Laboratory Corporation of America Holdings has a 52 week low of $97.79 and a 52 week high of $141.32.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, October 26th. The company reported $2.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.29 by $0.04. The firm earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Laboratory Corporation of America Holdings had a return on equity of 16.97% and a net margin of 6.85%. The business’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $2.07 EPS. On average, analysts expect that Laboratory Corporation of America Holdings will post $8.80 earnings per share for the current fiscal year.

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A number of equities research analysts have recently commented on LH shares. Zacks Investment Research cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Mizuho increased their price objective on Laboratory Corporation of America Holdings from $132.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, September 15th. Gabelli initiated coverage on Laboratory Corporation of America Holdings in a research report on Tuesday, October 25th. They set a “buy” rating and a $180.00 price objective on the stock. Finally, Canaccord Genuity set a $140.00 price objective on Laboratory Corporation of America Holdings and gave the company a “buy” rating in a research report on Sunday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and a consensus price target of $143.13.

About Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

5 Day Chart for NYSE:LH

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