First Trust Advisors LP increased its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 17.4% during the second quarter, Holdings Channel reports. The institutional investor owned 210,820 shares of the medical research company’s stock after buying an additional 31,296 shares during the period. First Trust Advisors LP’s holdings in Laboratory Corporation of America Holdings were worth $32,496,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Laboratory Corporation of America Holdings by 3,602.5% in the first quarter. BlackRock Inc. now owns 8,074,378 shares of the medical research company’s stock valued at $1,158,430,000 after buying an additional 7,856,297 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Laboratory Corporation of America Holdings by 139.4% in the first quarter. JPMorgan Chase & Co. now owns 677,069 shares of the medical research company’s stock valued at $97,139,000 after buying an additional 394,247 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Laboratory Corporation of America Holdings by 43.6% in the second quarter. Bessemer Group Inc. now owns 1,288,017 shares of the medical research company’s stock valued at $198,535,000 after buying an additional 391,145 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in shares of Laboratory Corporation of America Holdings by 901.1% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 335,545 shares of the medical research company’s stock valued at $8,748,000 after buying an additional 302,028 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Laboratory Corporation of America Holdings by 139.9% in the first quarter. Teachers Advisors LLC now owns 445,372 shares of the medical research company’s stock valued at $63,898,000 after buying an additional 259,709 shares in the last quarter. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Laboratory Corporation of America Holdings (LH) opened at 156.50 on Tuesday. The company has a 50 day moving average of $155.49 and a 200 day moving average of $144.59. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22. The company has a market capitalization of $15.93 billion, a PE ratio of 21.92 and a beta of 0.94.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.47 billion. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $2.36 EPS. On average, equities research analysts forecast that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current fiscal year.

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LH has been the topic of several analyst reports. Zacks Investment Research cut Laboratory Corporation of America Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Credit Suisse Group reiterated a “buy” rating and set a $146.00 price target on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Finally, Jefferies Group LLC decreased their price target on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating on the stock in a research report on Friday, April 28th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings has an average rating of “Buy” and a consensus target price of $159.00.

In related news, SVP Lance Berberian sold 3,613 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $139.84, for a total transaction of $505,241.92. Following the sale, the senior vice president now owns 5,789 shares of the company’s stock, valued at approximately $809,533.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 14,581 shares of company stock worth $2,256,899 in the last three months. 0.90% of the stock is 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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