Massachusetts Financial Services Co. MA Purchases 23,001 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Massachusetts Financial Services Co. MA grew its position in Laboratory Co. of America Holdings (NYSE:LH) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 803,742 shares of the medical research company’s stock after acquiring an additional 23,001 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Laboratory Co. of America were worth $226,205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Heartland Bank & Trust Co grew its position in shares of Laboratory Co. of America by 2.6% in the 3rd quarter. Heartland Bank & Trust Co now owns 1,518 shares of the medical research company’s stock valued at $427,000 after acquiring an additional 38 shares during the period. TCI Wealth Advisors Inc. lifted its stake in shares of Laboratory Co. of America by 95.7% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 90 shares of the medical research company’s stock worth $25,000 after buying an additional 44 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Laboratory Co. of America by 0.4% during the 3rd quarter. IFM Investors Pty Ltd now owns 12,643 shares of the medical research company’s stock worth $3,558,000 after buying an additional 49 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Laboratory Co. of America by 2.2% during the 3rd quarter. Stephens Inc. AR now owns 2,420 shares of the medical research company’s stock worth $681,000 after buying an additional 52 shares during the last quarter. Finally, Montag & Caldwell LLC lifted its stake in shares of Laboratory Co. of America by 3.2% during the 2nd quarter. Montag & Caldwell LLC now owns 1,701 shares of the medical research company’s stock worth $469,000 after buying an additional 53 shares during the last quarter. 87.56% of the stock is owned by institutional investors.

In related news, Director Dwight Gary Gilliland sold 500 shares of Laboratory Co. of America stock in a transaction that occurred on Wednesday, December 15th. The shares were sold at an average price of $302.26, for a total transaction of $151,130.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Shares of Laboratory Co. of America stock opened at $276.08 on Friday. The firm has a market capitalization of $26.42 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02. The company has a current ratio of 2.08, a quick ratio of 1.94 and a debt-to-equity ratio of 0.52. The firm’s 50 day moving average is $292.66 and its 200 day moving average is $290.29. Laboratory Co. of America Holdings has a 1 year low of $212.85 and a 1 year high of $317.17.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 27th. The medical research company reported $6.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $1.90. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $3.63 billion. Laboratory Co. of America had a net margin of 16.69% and a return on equity of 31.56%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $8.41 EPS. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 27.71 earnings per share for the current year.

A number of research firms have recently issued reports on LH. Credit Suisse Group raised their target price on shares of Laboratory Co. of America from $336.00 to $338.00 and gave the stock an “outperform” rating in a research note on Monday, November 1st. Mizuho raised their target price on shares of Laboratory Co. of America from $332.00 to $354.00 and gave the stock a “buy” rating in a research note on Monday, December 20th. Zacks Investment Research upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $304.00 price objective for the company in a research note on Tuesday, November 2nd. Morgan Stanley lifted their price objective on shares of Laboratory Co. of America from $377.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, December 17th. Finally, Wells Fargo & Company lifted their price objective on shares of Laboratory Co. of America from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 14th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $324.52.

About Laboratory Co. of America

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.

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

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