Envestnet Asset Management Inc. cut its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,836 shares of the medical research company’s stock after selling 2,123 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Laboratory Corp. of America were worth $5,111,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Acrospire Investment Management LLC lifted its holdings in Laboratory Corp. of America by 16.5% in the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after acquiring an additional 100 shares during the period. Sun Life Financial INC lifted its holdings in Laboratory Corp. of America by 9,200.0% in the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 736 shares during the period. IFP Advisors Inc lifted its holdings in Laboratory Corp. of America by 83.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 523 shares during the period. Hourglass Capital LLC acquired a new position in Laboratory Corp. of America in the second quarter valued at approximately $200,000. Finally, Teacher Retirement System of Texas acquired a new position in Laboratory Corp. of America in the third quarter valued at approximately $210,000. 91.45% of the stock is owned by institutional investors.

Shares of Laboratory Corp. of America Holdings (NYSE:LH) opened at $156.26 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.75 and a current ratio of 1.89. Laboratory Corp. of America Holdings has a 12-month low of $126.36 and a 12-month high of $164.22. The company has a market capitalization of $15,907.27, a P/E ratio of 16.80, a P/E/G ratio of 1.66 and a beta of 0.87.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. Laboratory Corp. of America had a return on equity of 16.75% and a net margin of 7.40%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the business earned $2.25 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. analysts predict that Laboratory Corp. of America Holdings will post 9.52 EPS for the current fiscal year.

A number of research firms have recently commented on LH. Jefferies Group restated a “hold” rating and issued a $170.00 price objective (up from $157.00) on shares of Laboratory Corp. of America in a research report on Wednesday, September 13th. ValuEngine upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Mizuho set a $165.00 price objective on Laboratory Corp. of America and gave the company a “neutral” rating in a research report on Friday, December 1st. Canaccord Genuity restated a “buy” rating and issued a $180.00 price objective (up from $175.00) on shares of Laboratory Corp. of America in a research report on Monday, September 11th. Finally, Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $173.00 price objective for the company in a research report on Thursday, September 21st. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and an average target price of $170.92.

In related news, Director Dwight Gary Gilliland sold 971 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now directly owns 3,501 shares in the company, valued at $537,473.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

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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).

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

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