Allen Investment Management LLC increased its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 13.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 732,798 shares of the medical research company’s stock after buying an additional 88,564 shares during the period. Laboratory Corporation of America Holdings comprises approximately 5.4% of Allen Investment Management LLC’s portfolio, making the stock its 3rd largest position. Allen Investment Management LLC owned approximately 0.72% of Laboratory Corporation of America Holdings worth $112,953,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Korea Investment CORP increased its stake in Laboratory Corporation of America Holdings by 24,191.7% in the first quarter. Korea Investment CORP now owns 29,393 shares of the medical research company’s stock valued at $4,217,000 after buying an additional 29,272 shares during the period. Profund Advisors LLC increased its stake in Laboratory Corporation of America Holdings by 11.5% in the first quarter. Profund Advisors LLC now owns 4,099 shares of the medical research company’s stock valued at $588,000 after buying an additional 423 shares during the period. ProShare Advisors LLC increased its stake in Laboratory Corporation of America Holdings by 0.7% in the first quarter. ProShare Advisors LLC now owns 10,331 shares of the medical research company’s stock valued at $1,482,000 after buying an additional 69 shares during the period. Janney Montgomery Scott LLC increased its stake in Laboratory Corporation of America Holdings by 22.9% in the first quarter. Janney Montgomery Scott LLC now owns 5,161 shares of the medical research company’s stock valued at $740,000 after buying an additional 961 shares during the period. Finally, Capital Advisors Inc. OK increased its stake in Laboratory Corporation of America Holdings by 3.1% in the first quarter. Capital Advisors Inc. OK now owns 79,764 shares of the medical research company’s stock valued at $11,444,000 after buying an additional 2,418 shares during the period. Institutional investors and hedge funds own 93.19% of the company’s stock.

Laboratory Corporation of America Holdings (LH) opened at 153.22 on Tuesday. The stock’s 50 day moving average is $156.06 and its 200-day moving average is $145.76. Laboratory Corporation of America Holdings has a 1-year low of $119.51 and a 1-year high of $164.22. The firm has a market capitalization of $15.60 billion, a PE ratio of 21.46 and a beta of 0.94.

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

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Several research firms recently commented on LH. Barclays PLC upped their price target on shares of Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. ValuEngine downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target for the company. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Seven investment 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’s stock. Laboratory Corporation of America Holdings currently has an average rating of “Buy” and a consensus price target of $159.75.

In other news, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now directly owns 18,122 shares in the company, valued at approximately $2,889,734.12. The disclosure for this sale can be found here. Insiders have sold 14,068 shares of company stock worth $2,237,985 in the last ninety days. 0.90% of the stock is currently owned by 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).

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

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