Victory Capital Management Inc. lifted its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 6.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 45,868 shares of the medical research company’s stock after purchasing an additional 2,873 shares during the period. Victory Capital Management Inc.’s holdings in Laboratory Corp. of America were worth $8,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Laboratory Corp. of America by 7,033.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 633 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in Laboratory Corp. of America during the second quarter valued at approximately $150,000. Mount Yale Investment Advisors LLC purchased a new stake in Laboratory Corp. of America during the first quarter valued at approximately $155,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in Laboratory Corp. of America during the second quarter valued at approximately $166,000. Finally, Synovus Financial Corp purchased a new stake in Laboratory Corp. of America during the first quarter valued at approximately $199,000. 92.37% of the stock is owned by hedge funds and other institutional investors.

Shares of Laboratory Corp. of America stock opened at $179.02 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. Laboratory Corp. of America Holdings has a 12-month low of $146.68 and a 12-month high of $190.35. The company has a market cap of $18.57 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.75 and a beta of 0.98.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.06. Laboratory Corp. of America had a net margin of 11.59% and a return on equity of 16.38%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business posted $2.47 EPS. Laboratory Corp. of America’s revenue for the quarter was up 13.4% compared to the same quarter last year. research analysts forecast that Laboratory Corp. of America Holdings will post 11.55 EPS for the current year.

In other Laboratory Corp. of America news, CEO David P. King sold 49,966 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were sold at an average price of $175.37, for a total transaction of $8,762,537.42. Following the transaction, the chief executive officer now owns 271,635 shares in the company, valued at approximately $47,636,629.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edward T. Dodson sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $183.35, for a total transaction of $2,383,550.00. Following the transaction, the insider now owns 22,113 shares in the company, valued at approximately $4,054,418.55. The disclosure for this sale can be found here. Insiders have sold a total of 79,076 shares of company stock worth $14,071,462 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

LH has been the subject of a number of analyst reports. Barclays increased their target price on shares of Laboratory Corp. of America from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, May 25th. Deutsche Bank cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 target price for the company. in a research report on Wednesday, June 27th. Zacks Investment Research cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research report on Monday, April 30th. Mizuho reissued a “hold” rating on shares of Laboratory Corp. of America in a research report on Friday, May 25th. Finally, SunTrust Banks reissued a “buy” rating and set a $220.00 target price on shares of Laboratory Corp. of America in a research report on Friday, July 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Laboratory Corp. of America has a consensus rating of “Buy” and a consensus price target of $196.18.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

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