DNB Asset Management AS lifted its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,579 shares of the medical research company’s stock after purchasing an additional 64 shares during the period. DNB Asset Management AS’s holdings in Laboratory Corp. of America were worth $1,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LH. Steward Partners Investment Advisory LLC purchased a new stake in shares of Laboratory Corp. of America during the second quarter worth about $32,000. Legacy Advisors LLC purchased a new stake in shares of Laboratory Corp. of America during the second quarter worth about $33,000. Meeder Asset Management Inc. purchased a new stake in shares of Laboratory Corp. of America during the second quarter worth about $33,000. C M Bidwell & Associates Ltd. grew its holdings in shares of Laboratory Corp. of America by 1,636.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock worth $33,000 after buying an additional 180 shares in the last quarter. Finally, Private Ocean LLC grew its holdings in shares of Laboratory Corp. of America by 54.3% during the second quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock worth $36,000 after buying an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.

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

LH opened at $167.46 on Monday. The company’s 50 day simple moving average is $168.96 and its 200 day simple moving average is $166.08. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.14. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $178.44. 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 (NYSE:LH) last released its earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the company earned $2.98 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that Laboratory Corp. of America Holdings will post 11.29 earnings per share for the current fiscal year.

In other Laboratory Corp. of America news, SVP Lance Berberian sold 5,902 shares of Laboratory Corp. of America stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $169.80, for a total transaction of $1,002,159.60. Following the transaction, the senior vice president now directly owns 6,097 shares of the company’s stock, valued at $1,035,270.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 2,600 shares of Laboratory Corp. of America stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.85, for a total transaction of $446,810.00. The disclosure for this sale can be found here. Insiders sold 11,468 shares of company stock worth $1,946,168 over the last three months. Corporate insiders own 0.74% of the company’s stock.

Laboratory Corp. of America Company 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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