Two Sigma Advisers LP lowered its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 8.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 89,290 shares of the medical research company’s stock after selling 8,247 shares during the quarter. Two Sigma Advisers LP’s holdings in Laboratory Corp. of America were worth $14,243,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Laboratory Corp. of America by 2.0% during the fourth quarter. BlackRock Inc. now owns 7,970,872 shares of the medical research company’s stock worth $1,271,436,000 after purchasing an additional 159,639 shares during the period. Boston Partners increased its stake in shares of Laboratory Corp. of America by 13.9% during the fourth quarter. Boston Partners now owns 5,264,025 shares of the medical research company’s stock worth $839,665,000 after purchasing an additional 644,355 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Laboratory Corp. of America by 6.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,787,460 shares of the medical research company’s stock worth $285,118,000 after purchasing an additional 110,625 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of Laboratory Corp. of America by 2.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 1,618,226 shares of the medical research company’s stock worth $258,123,000 after purchasing an additional 36,260 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Laboratory Corp. of America by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 1,409,941 shares of the medical research company’s stock worth $212,848,000 after purchasing an additional 14,901 shares during the period. Institutional investors own 92.32% of the company’s stock.

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LH has been the topic of a number of recent research reports. Robert W. Baird set a $183.00 target price on Laboratory Corp. of America and gave the stock a “hold” rating in a research note on Thursday, February 8th. Zacks Investment Research lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Barclays reiterated a “buy” rating and set a $195.00 target price on shares of Laboratory Corp. of America in a research note on Wednesday, December 13th. Morgan Stanley increased their target price on Laboratory Corp. of America from $182.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, Jefferies Group reiterated a “hold” rating and set a $176.00 target price on shares of Laboratory Corp. of America in a research note on Tuesday, March 6th. Six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $188.33.

In other Laboratory Corp. of America news, Director Adam H. Schechter sold 1,263 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $169.29, for a total value of $213,813.27. Following the sale, the director now owns 7,297 shares of the company’s stock, valued at approximately $1,235,309.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Glenn A. Eisenberg sold 8,400 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $167.36, for a total value of $1,405,824.00. Following the completion of the sale, the chief financial officer now directly owns 15,931 shares in the company, valued at approximately $2,666,212.16. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Shares of Laboratory Corp. of America Holdings (LH) opened at $165.70 on Friday. The stock has a market capitalization of $17,279.18, a P/E ratio of 13.57, a P/E/G ratio of 1.43 and a beta of 0.90. Laboratory Corp. of America Holdings has a 12-month low of $134.19 and a 12-month high of $181.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.31.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Tuesday, February 6th. The medical research company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.07. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.70 billion. Laboratory Corp. of America had a return on equity of 16.30% and a net margin of 12.15%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 earnings per share. analysts forecast that Laboratory Corp. of America Holdings will post 11.54 EPS for the current fiscal year.

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About Laboratory Corp. of America

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 Corp. of America (NYSE:LH)

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