Quantitative Investment Management LLC raised its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 46.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 97,500 shares of the medical research company’s stock after purchasing an additional 31,100 shares during the period. Quantitative Investment Management LLC owned 0.10% of Laboratory Corporation of America Holdings worth $15,028,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its holdings in Laboratory Corporation of America Holdings by 16.5% during the second quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 100 shares during the period. Parallel Advisors LLC grew its holdings in Laboratory Corporation of America Holdings by 377.7% during the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 997 shares during the period. IFP Advisors Inc grew its holdings in Laboratory Corporation of America Holdings by 83.9% during the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 523 shares during the period. Hourglass Capital LLC bought a new stake in Laboratory Corporation of America Holdings during the second quarter valued at about $200,000. Finally, Ingalls & Snyder LLC bought a new stake in Laboratory Corporation of America Holdings during the first quarter valued at about $206,000. 93.19% of the stock is owned by institutional investors and hedge funds.

In related news, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David P. King sold 132,713 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $157.06, for a total value of $20,843,903.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,968 shares of company stock worth $34,980,922. 0.90% of the stock is currently owned by insiders.

LH has been the subject of several recent research reports. Credit Suisse Group reissued a “buy” rating and set a $146.00 price target on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. ValuEngine lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 3rd. BidaskClub lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Barclays PLC reaffirmed an “overweight” rating and issued 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. Finally, Craig Hallum reaffirmed a “buy” rating and issued 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. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $164.00.

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Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.43% during midday trading on Wednesday, hitting $153.50. The company had a trading volume of 117,244 shares. 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 $15.63 billion, a P/E ratio of 21.50 and a beta of 0.94. The company has a 50 day moving average price of $156.24 and a 200 day moving average price of $147.88.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm earned $2.36 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Laboratory Corporation of America Holdings will post $9.54 earnings per share for the current fiscal year.

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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