Veritas Investment Management LLP raised its holdings in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 22.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,698 shares of the medical research company’s stock after buying an additional 51,445 shares during the quarter. Laboratory Corporation of America Holdings comprises about 5.8% of Veritas Investment Management LLP’s portfolio, making the stock its 9th biggest holding. Veritas Investment Management LLP owned approximately 0.28% of Laboratory Corporation of America Holdings worth $42,978,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LH. Acrospire Investment Management LLC grew its holdings in shares of Laboratory Corporation of America Holdings by 16.5% in 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. Sun Life Financial INC grew its holdings in shares of Laboratory Corporation of America Holdings by 9,200.0% in the second quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 736 shares during the period. IFP Advisors Inc grew its holdings in shares of Laboratory Corporation of America Holdings by 83.9% in 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 purchased a new stake in shares of Laboratory Corporation of America Holdings in the second quarter valued at about $200,000. Finally, TNB Financial purchased a new stake in shares of Laboratory Corporation of America Holdings in the second quarter valued at about $208,000. 93.54% of the stock is owned by institutional investors and hedge funds.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded down $0.59 on Tuesday, hitting $149.87. 461,700 shares of the stock traded hands, compared to its average volume of 722,958. The firm has a market capitalization of $15,330.00, a PE ratio of 16.18, a PEG ratio of 1.60 and a beta of 0.87. Laboratory Corporation of America Holdings has a 1-year low of $123.36 and a 1-year high of $164.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.89 and a quick ratio of 1.75.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.25 earnings per share. equities research analysts forecast that Laboratory Corporation of America Holdings will post 9.52 EPS for the current year.

In related news, CEO David P. King sold 44,687 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were 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 directly owns 258,753 shares in the company, valued at $40,587,995.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight Gary Gilliland sold 971 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $153.52, for a total transaction of $149,067.92. Following the sale, the director now owns 3,501 shares in the company, valued at $537,473.52. The disclosure for this sale can be found here. Insiders have sold 209,871 shares of company stock worth $32,892,005 in the last three months. Corporate insiders own 0.90% of the company’s stock.

LH has been the subject of a number of analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, September 11th. ValuEngine raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Craig Hallum reaffirmed a “buy” rating and issued a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating and set a $173.00 target price on the stock in a research report on Thursday, September 21st. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $190.00 target price on shares of Laboratory Corporation of America Holdings in a research report on Thursday, October 12th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $169.00.

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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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