Sawgrass Asset Management LLC lessened its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 34.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,897 shares of the medical research company’s stock after selling 116,910 shares during the quarter. Laboratory Corporation of America Holdings makes up about 1.7% of Sawgrass Asset Management LLC’s portfolio, making the stock its 26th biggest holding. Sawgrass Asset Management LLC owned 0.22% of Laboratory Corporation of America Holdings worth $33,953,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acrospire Investment Management LLC grew its holdings in shares of Laboratory Corporation of America Holdings by 16.5% during the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after buying an additional 100 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of Laboratory Corporation of America Holdings by 9,200.0% during the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock worth $115,000 after buying an additional 736 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Laboratory Corporation of America Holdings by 83.9% during the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after buying an additional 523 shares in the last quarter. Hourglass Capital LLC purchased a new stake in shares of Laboratory Corporation of America Holdings during the second quarter worth $200,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Laboratory Corporation of America Holdings during the third quarter worth $210,000. 92.96% of the stock is owned by institutional investors.

Shares of Laboratory Corporation of America Holdings (LH) traded down $0.93 during mid-day trading on Friday, hitting $151.91. 554,700 shares of the stock traded hands, compared to its average volume of 721,146. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.75 and a current ratio of 1.89. The firm has a market cap of $15,464.44, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.61 and a beta of 0.87. Laboratory Corporation of America Holdings has a 1 year low of $123.36 and a 1 year high of $164.22.

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

LH has been the subject of a number of research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, September 11th. ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Craig Hallum reaffirmed a “buy” rating and set a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $173.00 target price for the company in a report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $190.00 target price on shares of Laboratory Corporation of America Holdings in a report on Thursday, October 12th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $169.00.

In other Laboratory Corporation of America Holdings news, CEO David P. King sold 132,713 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total value of $20,843,903.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dwight Gary Gilliland sold 971 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the transaction, the director now directly owns 3,501 shares in the company, valued at approximately $537,473.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 178,371 shares of company stock worth $28,002,575. Corporate insiders own 0.90% of the company’s stock.

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Laboratory Corporation of America Holdings 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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