HighTower Advisors LLC grew its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 36.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,466 shares of the medical research company’s stock after purchasing an additional 4,661 shares during the quarter. HighTower Advisors LLC’s holdings in Laboratory Corporation of America Holdings were worth $2,694,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of LH. Acrospire Investment Management LLC increased its holdings in shares of Laboratory Corporation of America Holdings by 16.5% during 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 in the last quarter. Parallel Advisors LLC increased its holdings in shares of Laboratory Corporation of America Holdings by 377.7% during 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 in the last quarter. IFP Advisors Inc increased its holdings in shares of Laboratory Corporation of America Holdings by 83.9% during 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 in the last quarter. Hourglass Capital LLC purchased a new position in shares of Laboratory Corporation of America Holdings during the 2nd quarter valued at approximately $200,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Laboratory Corporation of America Holdings during the 1st quarter valued at approximately $208,000. 93.19% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on LH. Barclays PLC lifted their target price on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a 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 report on Thursday, July 27th. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. KeyCorp reaffirmed a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Tuesday, September 26th. Finally, BidaskClub lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $165.82.

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Shares of Laboratory Corporation of America Holdings (LH) opened at 151.65 on Friday. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 21.24 and a beta of 0.92. The company 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 released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. Laboratory Corporation of America Holdings’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.36 earnings per share. On average, equities analysts forecast that Laboratory Corporation of America Holdings will post $9.53 earnings per share for the current fiscal year.

In other news, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total value of $800,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. Insiders sold 222,968 shares of company stock valued at $34,980,922 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Laboratory Corporation of America Holdings 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 Corporation of America Holdings (NYSE:LH)

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