Cooke & Bieler LP reduced its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,007,322 shares of the company’s stock after selling 7,460 shares during the period. Laboratory Corp. of America Holdings makes up about 2.9% of Cooke & Bieler LP’s investment portfolio, making the stock its 2nd largest position. Cooke & Bieler LP owned approximately 0.99% of Laboratory Corp. of America Holdings worth $131,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bridger Management LLC acquired a new stake in shares of Laboratory Corp. of America Holdings during the first quarter worth $77,658,000. Lazard Asset Management LLC acquired a new stake in shares of Laboratory Corp. of America Holdings during the first quarter worth $75,588,000. Bank of Montreal Can acquired a new stake in shares of Laboratory Corp. of America Holdings during the second quarter worth $49,845,000. UBS Group AG boosted its stake in shares of Laboratory Corp. of America Holdings by 92.7% in the first quarter. UBS Group AG now owns 749,888 shares of the company’s stock worth $87,834,000 after buying an additional 360,652 shares in the last quarter. Finally, Sentry Investments Corp. boosted its stake in shares of Laboratory Corp. of America Holdings by 99.1% in the first quarter. Sentry Investments Corp. now owns 361,000 shares of the company’s stock worth $42,284,000 after buying an additional 179,700 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.

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

Laboratory Corp. of America Holdings (NYSE:LH) traded up 0.13% during midday trading on Monday, hitting $135.97. 298,575 shares of the company’s stock traded hands. The company has a 50 day moving average of $136.70 and a 200-day moving average of $131.32. The company has a market capitalization of $13.91 billion, a PE ratio of 22.58 and a beta of 0.86. Laboratory Corp. of America Holdings has a 52 week low of $97.79 and a 52 week high of $141.32.

Laboratory Corp. of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. Laboratory Corp. of America Holdings had a net margin of 6.64% and a return on equity of 17.01%. The company earned $2.40 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts predict that Laboratory Corp. of America Holdings will post $8.81 earnings per share for the current year.

LH has been the subject of a number of recent research reports. Evercore ISI increased their price target on shares of Laboratory Corp. of America Holdings from $147.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Canaccord Genuity set a $155.00 price objective on shares of Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a research report on Thursday, July 28th. SunTrust Banks Inc. restated a “buy” rating on shares of Laboratory Corp. of America Holdings in a research report on Thursday, July 28th. KeyCorp upped their price objective on shares of Laboratory Corp. of America Holdings from $143.00 to $150.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 16th. Finally, Zacks Investment Research downgraded shares of Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $141.57.

In other Laboratory Corp. of America Holdings news, insider Lisa J. Uthgenannt sold 1,177 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $140.00, for a total value of $164,780.00. Following the sale, the insider now directly owns 3,660 shares in the company, valued at $512,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $140.10, for a total transaction of $1,120,800.00. Following the completion of the sale, the chief financial officer now owns 8,668 shares in the company, valued at $1,214,386.80. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

Laboratory Corp. of America Holdings Company Profile

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

5 Day Chart for NYSE:LH

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