Global X MANAGEMENT CO LLC grew its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 15.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,458 shares of the medical research company’s stock after purchasing an additional 595 shares during the period. Global X MANAGEMENT CO LLC’s holdings in Laboratory Corporation of America Holdings were worth $673,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock worth $109,000 after purchasing an additional 100 shares in the last quarter. Sun Life Financial INC raised its stake in Laboratory Corporation of America Holdings by 9,200.0% in the 2nd 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 last quarter. IFP Advisors Inc raised its stake in Laboratory Corporation of America Holdings by 83.9% in the 2nd 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 last quarter. Hourglass Capital LLC acquired a new position in Laboratory Corporation of America Holdings in the 2nd quarter valued at $200,000. Finally, Institute for Wealth Management LLC. acquired a new position in Laboratory Corporation of America Holdings in the 2nd quarter valued at $220,000. Institutional investors and hedge funds own 93.54% of the company’s stock.

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In other news, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 3,501 shares in the company, valued at approximately $537,473.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David P. King sold 132,713 shares of the stock in a transaction on 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 have sold 209,871 shares of company stock valued at $32,892,005. Company insiders own 0.90% of the company’s stock.

Several research firms recently commented on LH. Barclays PLC increased their price objective on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $190.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 12th. Robert W. Baird reissued a “hold” rating and issued a $150.00 price objective on shares of Laboratory Corporation of America Holdings in a research note on Friday, October 27th. Finally, ValuEngine downgraded Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at $151.02 on Friday. Laboratory Corporation of America Holdings has a 52 week low of $123.36 and a 52 week high of $164.22. The stock has a market capitalization of $15,208.22, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.58 and a beta of 0.87. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18.

Laboratory Corporation of America Holdings (NYSE:LH) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.08. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 EPS. sell-side analysts anticipate that Laboratory Corporation of America Holdings will post 9.53 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).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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