Iridian Asset Management LLC CT decreased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,581,966 shares of the medical research company’s stock after selling 18,312 shares during the quarter. Laboratory Corporation of America Holdings accounts for about 2.0% of Iridian Asset Management LLC CT’s portfolio, making the stock its 18th largest position. Iridian Asset Management LLC CT owned approximately 1.55% of Laboratory Corporation of America Holdings worth $238,829,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC lifted its stake in Laboratory Corporation of America Holdings 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 buying an additional 100 shares during the period. Sun Life Financial INC lifted its stake in Laboratory Corporation of America Holdings 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 buying an additional 736 shares during the period. IFP Advisors Inc lifted its stake in Laboratory Corporation of America Holdings 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 buying an additional 523 shares during the period. Hourglass Capital LLC acquired a new position in Laboratory Corporation of America Holdings in the second quarter valued at about $200,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Laboratory Corporation of America Holdings in the third quarter worth about $210,000. 93.54% of the stock is currently owned by hedge funds and other institutional investors.

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Laboratory Corporation of America Holdings (NYSE:LH) traded up $1.65 on Friday, hitting $151.02. The stock had a trading volume of 590,600 shares, compared to its average volume of 720,554. Laboratory Corporation of America Holdings has a 52 week low of $123.36 and a 52 week high of $164.22. The firm has a market capitalization of $15,410.00, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.58 and a beta of 0.87. 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 Corporation of America Holdings (NYSE:LH) last released its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm posted $2.25 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. analysts forecast that Laboratory Corporation of America Holdings will post 9.53 earnings per share for the current year.

In related news, CEO David P. King sold 132,713 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total transaction of $20,843,903.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider F Samuel Eberts III sold 31,500 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $155.22, for a total value of $4,889,430.00. Following the sale, the insider now directly owns 31,894 shares of the company’s stock, valued at $4,950,586.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 209,871 shares of company stock valued at $32,892,005. Insiders own 0.90% of the company’s stock.

Several brokerages have issued reports on LH. Craig Hallum restated a “buy” rating and issued a $179.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Barclays PLC increased their price target on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “hold” rating and issued a $170.00 price target (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Wednesday, September 13th. Finally, ValuEngine upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $169.00.

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).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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