TD Asset Management Inc. decreased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 7.4% during the second quarter, Holdings Channel reports. The institutional investor owned 37,758 shares of the medical research company’s stock after selling 3,035 shares during the period. TD Asset Management Inc.’s holdings in Laboratory Corporation of America Holdings were worth $5,820,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of 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. Parallel Advisors LLC boosted its stake in shares of Laboratory Corporation of America Holdings by 377.7% in the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after buying an additional 997 shares during the period. TNB Financial purchased a new stake in shares of Laboratory Corporation of America Holdings during the second quarter valued at $208,000. Union Bankshares Corp purchased a new stake in shares of Laboratory Corporation of America Holdings during the second quarter valued at $211,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Laboratory Corporation of America Holdings during the first quarter valued at $206,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Corporation of America Holdings (LH) opened at 153.91 on Friday. The firm has a 50-day moving average of $155.89 and a 200 day moving average of $145.06. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $164.22. The stock has a market capitalization of $15.67 billion, a price-to-earnings ratio of 21.56 and a beta of 0.94.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the company posted $2.36 EPS. Laboratory Corporation of America Holdings’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Laboratory Corporation of America Holdings will post $9.50 EPS for the current year.

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LH has been the topic of several analyst reports. Craig Hallum reaffirmed a “buy” rating and issued 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. Credit Suisse Group reaffirmed a “buy” rating and issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. ValuEngine cut shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Finally, Jefferies Group LLC reduced their target price on shares of Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $159.75.

In other Laboratory Corporation of America Holdings news, SVP Lance Berberian sold 3,613 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R Sanders Williams sold 3,100 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $156.88, for a total value of $486,328.00. Following the completion of the transaction, the director now directly owns 10,073 shares in the company, valued at $1,580,252.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,681 shares of company stock worth $2,743,227. 0.90% of the stock is currently owned by corporate 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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