Cannell Peter B & Co. Inc. increased its position in Laboratory Corporation of America Holdings (NYSE:LH) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 145,714 shares of the medical research company’s stock after buying an additional 3,085 shares during the period. Cannell Peter B & Co. Inc. owned about 0.14% of Laboratory Corporation of America Holdings worth $22,460,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Laboratory Corporation of America Holdings by 2.6% in the first quarter. Vanguard Group Inc. now owns 10,130,291 shares of the medical research company’s stock worth $1,453,393,000 after buying an additional 259,182 shares during the last quarter. BlackRock Inc. boosted its position 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 worth $1,158,430,000 after buying an additional 7,856,297 shares during the last quarter. State Street Corp boosted its position in shares of Laboratory Corporation of America Holdings by 2.4% in the first quarter. State Street Corp now owns 4,639,813 shares of the medical research company’s stock worth $665,669,000 after buying an additional 109,170 shares during the last quarter. Boston Partners boosted its position in shares of Laboratory Corporation of America Holdings by 4.8% in the second quarter. Boston Partners now owns 4,590,372 shares of the medical research company’s stock worth $707,560,000 after buying an additional 210,138 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Laboratory Corporation of America Holdings by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 1,347,599 shares of the medical research company’s stock worth $193,340,000 after buying an additional 5,743 shares during the last quarter. Institutional investors and hedge funds own 93.19% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.04% on Friday, hitting $156.93. The stock had a trading volume of 126,294 shares. The company has a market capitalization of $15.98 billion, a P/E ratio of 21.98 and a beta of 0.94. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The firm has a 50 day moving average price of $156.33 and a 200 day moving average price of $146.37.

Laboratory Corporation of America Holdings (NYSE:LH) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.07. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations 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 company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.36 EPS. On average, equities research analysts predict that Laboratory Corporation of America Holdings will post $9.51 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on LH shares. Craig Hallum restated a “buy” rating and issued a $179.00 target price (up from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Credit Suisse Group restated a “buy” rating and issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. Morgan Stanley lifted their target price on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a report on Thursday, August 10th. BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Finally, ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 3rd. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $159.75.

In other Laboratory Corporation of America Holdings news, insider F Samuel Eberts III sold 31,500 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the completion of the transaction, the insider now owns 31,894 shares in the company, valued at approximately $4,950,586.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was 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. In the last quarter, insiders have sold 45,568 shares of company stock valued at $7,127,415. Corporate insiders own 0.90% of the company’s stock.

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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