Tamarack Advisers LP increased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 41.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,000 shares of the medical research company’s stock after buying an additional 20,000 shares during the period. Laboratory Corporation of America Holdings makes up 6.1% of Tamarack Advisers LP’s portfolio, making the stock its 4th largest position. Tamarack Advisers LP owned 0.07% of Laboratory Corporation of America Holdings worth $10,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 in the last quarter. 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 in the last quarter. Hourglass Capital LLC acquired a new stake in shares of Laboratory Corporation of America Holdings during the second quarter valued at about $200,000. Ingalls & Snyder LLC acquired a new stake in shares of Laboratory Corporation of America Holdings during the first quarter valued at about $206,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Laboratory Corporation of America Holdings during the first quarter valued at about $208,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Laboratory Corporation of America Holdings (LH) traded up 0.23% during mid-day trading on Friday, hitting $154.77. 729,120 shares of the stock traded hands. The company has a market cap of $15.76 billion, a price-to-earnings ratio of 21.68 and a beta of 0.94. The firm’s 50-day moving average is $156.06 and its 200-day moving average is $145.76. Laboratory Corporation of America Holdings has a 12-month low of $119.51 and a 12-month high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 earnings per share. Equities research analysts expect that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

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Several brokerages recently issued reports on LH. Craig Hallum reaffirmed a “buy” rating and set a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. Credit Suisse Group cut shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price objective for the company. in a research note on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reaffirmed an “overweight” rating and set a $182.00 price objective (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, July 17th. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 28th. Finally, Morgan Stanley upped their price objective on shares of Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and an average target price of $159.75.

In other news, insider Lisa J. Uthgenannt sold 5,000 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Sanders Williams sold 3,100 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $156.88, for a total transaction of $486,328.00. Following the completion of the sale, the director now directly owns 10,073 shares of the company’s stock, valued at $1,580,252.24. The disclosure for this sale can be found here. Insiders sold 14,068 shares of company stock valued at $2,237,985 over the last three months. 0.90% of the stock is owned by insiders.

Laboratory Corporation of America Holdings Company Profile

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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