Earnest Partners LLC lessened its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,783 shares of the medical research company’s stock after selling 5,956 shares during the period. Earnest Partners LLC owned 0.15% of Laboratory Corporation of America Holdings worth $23,704,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Swiss National Bank increased its stake in Laboratory Corporation of America Holdings by 1.9% in the 2nd quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock worth $70,947,000 after buying an additional 8,500 shares during the period. CFO4Life Group LLC purchased a new position in Laboratory Corporation of America Holdings in the 1st quarter worth about $312,000. Allen Investment Management LLC increased its stake in Laboratory Corporation of America Holdings by 13.7% in the 2nd quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock worth $112,953,000 after buying an additional 88,564 shares during the period. Sentry Investments Corp. increased its stake in Laboratory Corporation of America Holdings by 29.6% in the 2nd quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock worth $142,564,000 after buying an additional 211,180 shares during the period. Finally, Taylor Asset Management Inc. increased its stake in Laboratory Corporation of America Holdings by 1.8% in the 2nd quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock worth $7,953,000 after buying an additional 900 shares during the period. 93.19% of the stock is currently owned by institutional investors.

Laboratory Corporation of America Holdings (LH) traded down 0.90% on Monday, reaching $150.28. 55,515 shares of the company’s stock were exchanged. The stock has a market cap of $15.30 billion, a price-to-earnings ratio of 21.05 and a beta of 0.92. 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 of $154.03 and a 200-day moving average of $148.60.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly 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 company had revenue of $2.50 billion for 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 business’s revenue for the quarter 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 forecast that Laboratory Corporation of America Holdings will post $9.53 EPS for the current fiscal year.

In related news, insider F Samuel Eberts III sold 31,500 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the sale, the insider now directly owns 31,894 shares in the company, valued at $4,950,586.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David P. King sold 44,687 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the sale, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders have sold 222,968 shares of company stock worth $34,980,922 over the last quarter. Insiders own 0.90% of the company’s stock.

Several research analysts recently commented on LH shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Monday, September 11th. ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Craig Hallum reaffirmed a “buy” rating and issued a $179.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, July 27th. BidaskClub raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Thursday, September 21st. 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 has an average rating of “Buy” and an average target price of $165.82.

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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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