Pictet Asset Management Ltd. decreased its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 56,287 shares of the medical research company’s stock after selling 2,300 shares during the period. Pictet Asset Management Ltd.’s holdings in Laboratory Corporation of America Holdings were worth $7,824,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. National Pension Service boosted its position in Laboratory Corporation of America Holdings by 0.8% in the first quarter. National Pension Service now owns 89,705 shares of the medical research company’s stock valued at $12,916,000 after buying an additional 751 shares during the period. Bank of Montreal Can boosted its position in Laboratory Corporation of America Holdings by 2.1% in the first quarter. Bank of Montreal Can now owns 192,388 shares of the medical research company’s stock valued at $27,602,000 after buying an additional 3,970 shares during the period. Regent Investment Management LLC acquired a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $254,000. Carderock Capital Management Inc. boosted its position in Laboratory Corporation of America Holdings by 2.1% in the first quarter. Carderock Capital Management Inc. now owns 28,502 shares of the medical research company’s stock valued at $4,089,000 after buying an additional 581 shares during the period. Finally, Asset Planning Services Ltd. boosted its position in Laboratory Corporation of America Holdings by 1,596.6% in the first quarter. Asset Planning Services Ltd. now owns 6,583 shares of the medical research company’s stock valued at $944,000 after buying an additional 6,195 shares during the period. Institutional investors own 91.64% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 156.76 on Wednesday. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 21.96 and a beta of 0.94. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22. The firm has a 50-day moving average price of $155.62 and a 200 day moving average price of $144.75.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Thomson Reuters’ 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 return on equity of 16.85% and a net margin of 7.57%. Laboratory Corporation of America Holdings’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.36 EPS. On average, analysts anticipate that Laboratory Corporation of America Holdings will post $9.51 EPS for the current fiscal year.

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LH has been the subject of several research analyst reports. Zacks Investment Research cut Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Jefferies Group LLC reduced their price objective on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research note on Friday, April 28th. Credit Suisse Group restated a “buy” rating and set a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Sunday, May 28th. ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. Finally, BidaskClub cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $159.00.

In other Laboratory Corporation of America Holdings news, CFO Glenn A. Eisenberg sold 5,968 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now owns 18,122 shares of the company’s stock, valued at $2,889,734.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Lance Berberian sold 3,613 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total value of $505,241.92. Following the completion of the transaction, the senior vice president now directly owns 5,789 shares in the company, valued at approximately $809,533.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,681 shares of company stock worth $2,743,227. 0.90% of the stock is owned by insiders.

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).

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

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