Affinity Investment Advisors LLC trimmed its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 14.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,140 shares of the medical research company’s stock after selling 2,000 shares during the quarter. Affinity Investment Advisors LLC’s holdings in Laboratory Corporation of America Holdings were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $208,000. Tudor Investment Corp ET AL raised its position in Laboratory Corporation of America Holdings by 27.8% during the first quarter. Tudor Investment Corp ET AL now owns 2,300 shares of the medical research company’s stock valued at $330,000 after acquiring an additional 500 shares in the last quarter. Bank of Nova Scotia raised its position in Laboratory Corporation of America Holdings by 926.8% during the first quarter. Bank of Nova Scotia now owns 23,422 shares of the medical research company’s stock valued at $3,361,000 after acquiring an additional 21,141 shares in the last quarter. Achmea Investment Management B.V. bought a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $2,959,000. Finally, Stonebridge Capital Advisors LLC raised its position in Laboratory Corporation of America Holdings by 0.5% during the first quarter. Stonebridge Capital Advisors LLC now owns 19,755 shares of the medical research company’s stock valued at $2,834,000 after acquiring an additional 90 shares in the last quarter. 93.39% of the stock is owned by institutional investors and hedge funds.

In other Laboratory Corporation of America Holdings news, Director R Sanders Williams sold 3,100 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $156.88, for a total value of $486,328.00. Following the transaction, the director now directly owns 10,073 shares of the company’s stock, valued at approximately $1,580,252.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider F Samuel Eberts III sold 31,500 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $155.22, for a total value of $4,889,430.00. Following the completion of the transaction, the insider now directly owns 31,894 shares in the company, valued at $4,950,586.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,971 shares of company stock worth $33,378,333. 0.90% of the stock is owned by company insiders.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the business earned $2.25 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis.

Several equities analysts recently weighed in on LH shares. Barclays PLC raised their price objective on shares of Laboratory Corporation of America Holdings from $183.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Jefferies Group LLC reiterated a “hold” rating and set a $170.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Wednesday, September 13th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Tuesday, October 10th. Morgan Stanley increased their price target on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a report on Thursday, August 10th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $180.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $169.00.

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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).

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

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