Gateway Investment Advisers LLC lowered its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 65.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the medical research company’s stock after selling 2,787 shares during the period. Gateway Investment Advisers LLC’s holdings in Laboratory Corp. of America were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in Laboratory Corp. of America in the 2nd quarter worth approximately $32,000. Meeder Asset Management Inc. bought a new stake in Laboratory Corp. of America in the 2nd quarter worth approximately $33,000. Legacy Advisors LLC bought a new stake in Laboratory Corp. of America in the 2nd quarter worth approximately $33,000. C M Bidwell & Associates Ltd. grew its position in Laboratory Corp. of America by 1,636.4% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock worth $33,000 after purchasing an additional 180 shares during the period. Finally, Private Ocean LLC grew its position in Laboratory Corp. of America by 54.3% in the 2nd quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock worth $36,000 after purchasing an additional 75 shares during the period. 90.35% of the stock is owned by institutional investors.

Shares of Laboratory Corp. of America stock opened at $167.46 on Monday. The company’s fifty day simple moving average is $168.96 and its 200-day simple moving average is $166.08. The stock has a market capitalization of $16.66 billion, a PE ratio of 15.20, a P/E/G ratio of 1.91 and a beta of 1.03. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $178.44. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $2.98 EPS. As a group, research analysts anticipate that Laboratory Corp. of America Holdings will post 11.29 EPS for the current year.

In related news, insider Lisa J. Uthgenannt sold 2,466 shares of Laboratory Corp. of America stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $168.59, for a total transaction of $415,742.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director R Sanders Williams sold 500 shares of Laboratory Corp. of America stock in a transaction on Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the transaction, the director now owns 6,886 shares in the company, valued at approximately $1,121,798.26. The disclosure for this sale can be found here. Insiders have sold a total of 11,468 shares of company stock worth $1,946,168 in the last quarter. Corporate insiders own 0.74% of the company’s stock.

A number of equities research analysts have commented on the stock. Barclays set a $200.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. KeyCorp lifted their target price on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Bank of America raised shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 target price for the company in a research report on Tuesday, July 16th. Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 target price for the company in a research report on Wednesday, October 9th. Finally, Morgan Stanley lifted their target price on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. Laboratory Corp. of America has a consensus rating of “Buy” and an average price target of $184.57.

Laboratory Corp. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

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