Baltimore Washington Financial Advisors Inc. increased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,331 shares of the medical research company’s stock after purchasing an additional 2,366 shares during the period. Laboratory Corporation of America Holdings makes up 1.7% of Baltimore Washington Financial Advisors Inc.’s holdings, making the stock its 27th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Laboratory Corporation of America Holdings were worth $7,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. BlackRock Inc. boosted its stake in shares of Laboratory Corporation of America Holdings by 3,602.5% during the 1st quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock worth $1,158,430,000 after buying an additional 7,856,297 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Laboratory Corporation of America Holdings by 5,992.1% during the 2nd quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock worth $137,128,000 after buying an additional 875,028 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Laboratory Corporation of America Holdings by 1,337.1% during the 2nd quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock worth $130,885,000 after buying an additional 800,902 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Laboratory Corporation of America Holdings by 70.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock worth $237,857,000 after buying an additional 637,848 shares during the last quarter. Finally, Empyrean Capital Partners LP acquired a new position in shares of Laboratory Corporation of America Holdings during the 2nd quarter worth about $92,484,000. 92.97% of the stock is owned by hedge funds and other institutional investors.

Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.26% during mid-day trading on Friday, hitting $151.72. 692,597 shares of the company traded hands. The firm has a market capitalization of $15.45 billion, a P/E ratio of 21.25 and a beta of 0.92. The firm has a 50 day moving average of $152.76 and a 200 day moving average of $149.09. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.07. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. Laboratory Corporation of America Holdings’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.36 EPS. Equities research analysts expect that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current fiscal year.

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LH has been the subject of a number of recent research reports. Barclays PLC increased their price objective on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Wednesday, September 13th. Wells Fargo & Company assumed coverage on shares of Laboratory Corporation of America Holdings in a report on Thursday, October 12th. They issued an “outperform” rating and a $175.00 target price on the stock. 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. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Sunday, September 17th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $170.31.

In other news, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David P. King sold 44,687 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now directly owns 258,753 shares in the company, valued at approximately $40,587,995.58. The disclosure for this sale can be found here. Insiders have sold a total of 222,968 shares of company stock worth $34,980,922 in the last ninety days. 0.90% of the stock is currently owned by 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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