Employees Retirement System of Texas continued to hold its position in Laboratory Corporation of America Holdings (NYSE:LH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,000 shares of the medical research company’s stock at the close of the 2nd quarter. Employees Retirement System of Texas’ holdings in Laboratory Corporation of America Holdings were worth $4,008,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its stake in shares of Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 100 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 523 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Laboratory Corporation of America Holdings by 377.7% in the 1st quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 997 shares during the last quarter. Hourglass Capital LLC bought a new stake in shares of Laboratory Corporation of America Holdings in the 2nd quarter valued at $200,000. Finally, TNB Financial bought a new stake in shares of Laboratory Corporation of America Holdings in the 2nd quarter valued at $208,000. 93.19% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on LH. Craig Hallum reissued a “buy” rating and set 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. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Barclays PLC increased their target price on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and set a $170.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Wednesday, September 13th. Finally, ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $165.82.

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In other news, CEO David P. King sold 44,687 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the sale, the chief executive officer now owns 258,753 shares in the company, valued at approximately $40,587,995.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total transaction of $951,657.28. Following the sale, the chief financial officer now owns 18,122 shares in the company, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,968 shares of company stock worth $34,980,922. Company insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings (NYSE:LH) opened at 151.65 on Friday. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The company has a market capitalization of $15.44 billion, a price-to-earnings ratio of 21.24 and a beta of 0.92. The firm has a 50 day moving average of $154.03 and a 200-day moving average of $148.60.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the business posted $2.36 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Laboratory Corporation of America Holdings will post $9.53 earnings per share for the current fiscal year.

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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