Valeo Financial Advisors LLC acquired a new position in shares of Laboratory Corp. of America Holdings (NYSE:LH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,939 shares of the medical research company’s stock, valued at approximately $444,000.

A number of other institutional investors have also recently added to or reduced their stakes in LH. New Amsterdam Partners LLC NY boosted its stake in Laboratory Corp. of America by 0.7% during the second quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock worth $593,000 after buying an additional 27 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX boosted its stake in Laboratory Corp. of America by 2.3% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,200 shares of the medical research company’s stock worth $339,000 after buying an additional 50 shares during the period. First Allied Advisory Services Inc. boosted its stake in Laboratory Corp. of America by 2.6% during the second quarter. First Allied Advisory Services Inc. now owns 3,033 shares of the medical research company’s stock worth $462,000 after buying an additional 78 shares during the period. Sentry Investment Management LLC boosted its stake in Laboratory Corp. of America by 1.0% during the second quarter. Sentry Investment Management LLC now owns 7,756 shares of the medical research company’s stock worth $1,196,000 after buying an additional 78 shares during the period. Finally, Financial Counselors Inc. boosted its stake in Laboratory Corp. of America by 5.9% during the second quarter. Financial Counselors Inc. now owns 1,641 shares of the medical research company’s stock worth $253,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 91.46% of the company’s stock.

Laboratory Corp. of America Holdings (NYSE:LH) traded down $0.47 during midday trading on Tuesday, hitting $155.79. 527,300 shares of the stock traded hands, compared to its average volume of 720,110. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. Laboratory Corp. of America Holdings has a twelve month low of $126.44 and a twelve month high of $164.22. The stock has a market capitalization of $15,907.27, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. Laboratory Corp. of America had a net margin of 7.40% and a return on equity of 16.75%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $2.25 earnings per share. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. analysts forecast that Laboratory Corp. of America Holdings will post 9.52 EPS for the current fiscal year.

In other news, Director Dwight Gary Gilliland sold 971 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value of $149,067.92. Following the completion of the transaction, the director now owns 3,501 shares of the company’s stock, valued at $537,473.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Several research analysts have weighed in on LH shares. Barclays increased their target price on shares of Laboratory Corp. of America from $183.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Jefferies Group reaffirmed a “hold” rating and set a $170.00 target price (up previously from $157.00) on shares of Laboratory Corp. of America in a research note on Wednesday, September 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Laboratory Corp. of America in a research note on Monday, September 11th. Finally, ValuEngine raised shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and a consensus price target of $170.92.

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About Laboratory Corp. of America

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 Corp. of America (NYSE:LH)

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