Wilbanks Smith & Thomas Asset Management LLC held its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,910 shares of the medical research company’s stock at the close of the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Laboratory Corporation of America Holdings were worth $449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swiss National Bank boosted its holdings in Laboratory Corporation of America Holdings by 1.9% in the second quarter. Swiss National Bank now owns 460,275 shares of the medical research company’s stock worth $70,947,000 after acquiring an additional 8,500 shares in the last quarter. Allen Investment Management LLC boosted its holdings in Laboratory Corporation of America Holdings by 13.7% in the second quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock worth $112,953,000 after acquiring an additional 88,564 shares in the last quarter. Sentry Investments Corp. boosted its holdings in Laboratory Corporation of America Holdings by 29.6% in the second quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock worth $142,564,000 after acquiring an additional 211,180 shares in the last quarter. Taylor Asset Management Inc. boosted its holdings in Laboratory Corporation of America Holdings by 1.8% in the second quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock worth $7,953,000 after acquiring an additional 900 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in Laboratory Corporation of America Holdings in the first quarter worth about $1,976,000. 93.19% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on LH shares. Craig Hallum reissued 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 report on Thursday, July 27th. 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. Zacks Investment Research raised Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday. BidaskClub raised Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Sunday, September 17th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $165.55.

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Shares of Laboratory Corporation of America Holdings (NYSE LH) traded up 0.20% on Wednesday, reaching $149.78. The company had a trading volume of 163,010 shares. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $164.22. The company’s 50-day moving average price is $153.77 and its 200 day moving average price is $148.80. The firm has a market capitalization of $15.25 billion, a P/E ratio of 20.98 and a beta of 0.92.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the firm earned $2.36 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts expect that Laboratory Corporation of America Holdings will post $9.53 EPS for the current year.

In other news, Director R Sanders Williams sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $156.88, for a total value 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 approximately $1,580,252.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 18,122 shares of the company’s stock, valued at $2,889,734.12. The disclosure for this sale can be found here. Insiders sold a total of 222,968 shares of company stock valued at $34,980,922 over the last three months. Insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings 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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