IFM Investors Pty Ltd acquired a new position in shares of Laboratory Corp. of America Holdings (NYSE:LH) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,504 shares of the medical research company’s stock, valued at approximately $227,000.

Other large investors have also modified their holdings of the company. Zions Bancorporation grew its position in Laboratory Corp. of America by 7,444.4% in the 3rd quarter. Zions Bancorporation now owns 679 shares of the medical research company’s stock valued at $103,000 after acquiring an additional 670 shares in the last quarter. Acrospire Investment Management LLC grew its position in Laboratory Corp. of America 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 acquiring an additional 100 shares in the last quarter. Sun Life Financial INC grew its position in Laboratory Corp. of America by 9,200.0% in the 2nd 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 in the last quarter. IFP Advisors Inc grew its position in Laboratory Corp. of America 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 acquiring an additional 523 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Laboratory Corp. of America in the 3rd quarter valued at about $210,000. 91.21% of the stock is owned by hedge funds and other institutional investors.

Shares of Laboratory Corp. of America Holdings (NYSE:LH) opened at $161.46 on Tuesday. The firm has a market capitalization of $16,192.31, a P/E ratio of 17.10, a P/E/G ratio of 1.69 and a beta of 0.87. Laboratory Corp. of America Holdings has a 52 week low of $126.44 and a 52 week high of $164.22. 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 (NYSE:LH) last posted its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corp. of America had a return on equity of 16.75% and a net margin of 7.40%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 earnings per share. analysts forecast that Laboratory Corp. of America Holdings will post 9.52 EPS for the current year.

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 owns 3,501 shares in the company, valued at $537,473.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is owned by insiders.

LH has been the subject of several recent research reports. Robert W. Baird reiterated a “hold” rating and issued a $166.00 price objective on shares of Laboratory Corp. of America in a research note on Tuesday, October 17th. ValuEngine upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Mizuho set a $165.00 price objective on Laboratory Corp. of America and gave the company a “neutral” rating in a research note on Friday, December 1st. Wells Fargo & Company initiated coverage on Laboratory Corp. of America in a research note on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Finally, Zacks Investment Research upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $171.33.

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About Laboratory Corp. of America

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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