Advisor Partners LLC raised its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,125 shares of the medical research company’s stock after buying an additional 308 shares during the period. Advisor Partners LLC’s holdings in Laboratory Corporation of America Holdings were worth $328,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Bank acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at about $254,000. American National Bank increased its position in shares of Laboratory Corporation of America Holdings by 4.5% in the first quarter. American National Bank now owns 35,769 shares of the medical research company’s stock valued at $5,131,000 after buying an additional 1,555 shares during the last quarter. BKD Wealth Advisors LLC increased its position in shares of Laboratory Corporation of America Holdings by 4.5% in the first quarter. BKD Wealth Advisors LLC now owns 14,222 shares of the medical research company’s stock valued at $2,040,000 after buying an additional 618 shares during the last quarter. Parametrica Management Ltd acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter valued at about $341,000. Finally, AMI Asset Management Corp increased its position in shares of Laboratory Corporation of America Holdings by 9.9% in the first quarter. AMI Asset Management Corp now owns 264,605 shares of the medical research company’s stock valued at $37,963,000 after buying an additional 23,790 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

Shares of Laboratory Corporation of America Holdings (LH) opened at 156.40 on Friday. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The stock has a 50 day moving average of $155.18 and a 200 day moving average of $144.10. The firm has a market cap of $15.92 billion, a PE ratio of 21.90 and a beta of 0.94.

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

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Several brokerages have issued reports on LH. Craig Hallum reissued a “buy” rating and set a $179.00 price objective (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Barclays PLC raised their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Morgan Stanley raised their price objective on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective on the stock. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Seven equities research 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. Laboratory Corporation of America Holdings currently has a consensus rating of “Buy” and an average price target of $159.00.

In related news, CFO Glenn A. Eisenberg sold 5,968 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the completion of the transaction, the chief financial officer now owns 18,122 shares in the company, valued at approximately $2,889,734.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lance Berberian sold 3,613 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $139.84, for a total transaction of $505,241.92. Following the completion of the transaction, the senior vice president now owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The disclosure for this sale can be found here. Insiders have sold 14,581 shares of company stock valued at $2,256,899 in the last 90 days. 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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