Bank of New York Mellon Corp reduced its stake in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 893,740 shares of the medical research company’s stock after selling 46,932 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Laboratory Corporation of America Holdings worth $134,928,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swiss National Bank grew its position in shares of Laboratory Corporation of America Holdings by 1.9% during 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. Sentry Investments Corp. lifted its holdings in shares of Laboratory Corporation of America Holdings by 29.6% during the 2nd quarter. Sentry Investments Corp. now owns 924,900 shares of the medical research company’s stock valued at $142,564,000 after purchasing an additional 211,180 shares in the last quarter. Allen Investment Management LLC lifted its holdings in shares of Laboratory Corporation of America Holdings by 13.7% during the 2nd quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock valued at $112,953,000 after purchasing an additional 88,564 shares in the last quarter. Taylor Asset Management Inc. lifted its holdings in shares of Laboratory Corporation of America Holdings by 1.8% during the 2nd quarter. Taylor Asset Management Inc. now owns 51,600 shares of the medical research company’s stock valued at $7,953,000 after purchasing an additional 900 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Laboratory Corporation of America Holdings by 2.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 39,891 shares of the medical research company’s stock valued at $6,150,000 after purchasing an additional 881 shares in the last quarter. Institutional investors own 92.96% of the company’s stock.

In other Laboratory Corporation of America Holdings news, Director Dwight Gary Gilliland sold 971 shares of the business’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 transaction, the director now owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider F Samuel Eberts III sold 31,500 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $155.22, for a total value of $4,889,430.00. Following the transaction, the insider now directly owns 31,894 shares in the company, valued at approximately $4,950,586.68. The disclosure for this sale can be found here. Insiders have sold a total of 209,871 shares of company stock worth $32,892,005 in the last ninety days. Insiders own 0.90% of the company’s stock.

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Several research firms have recently weighed in on LH. Robert W. Baird reiterated a “hold” rating and set a $166.00 price objective on shares of Laboratory Corporation of America Holdings in a report on Tuesday, October 17th. KeyCorp reiterated a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Tuesday, September 26th. ValuEngine cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Barclays PLC lifted their price objective on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $169.00.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at $152.84 on Wednesday. The company has a market capitalization of $15,343.30, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.60 and a beta of 0.87. Laboratory Corporation of America Holdings has a 12 month low of $123.36 and a 12 month 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 posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.25 EPS. equities research analysts expect 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).

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

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