Nicholas Company Inc. Purchases 1,585 Shares of Laboratory Corporation of America Holdings (LH)

Nicholas Company Inc. boosted its position in Laboratory Corporation of America Holdings (NYSE:LH) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 426,585 shares of the medical research company’s stock after buying an additional 1,585 shares during the period. Laboratory Corporation of America Holdings makes up approximately 1.5% of Nicholas Company Inc.’s investment portfolio, making the stock its 18th largest holding. Nicholas Company Inc. owned 0.42% of Laboratory Corporation of America Holdings worth $65,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. CFO4Life Group LLC purchased a new stake in Laboratory Corporation of America Holdings in the 1st quarter worth approximately $312,000. Oxford Asset Management boosted its position in Laboratory Corporation of America Holdings by 68.6% in the 1st quarter. Oxford Asset Management now owns 51,622 shares of the medical research company’s stock worth $7,406,000 after purchasing an additional 21,003 shares in the last quarter. Allen Investment Management LLC boosted its position in Laboratory Corporation of America Holdings by 13.7% in the 2nd quarter. Allen Investment Management LLC now owns 732,798 shares of the medical research company’s stock worth $112,953,000 after purchasing an additional 88,564 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Laboratory Corporation of America Holdings by 2.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,900 shares of the medical research company’s stock worth $1,420,000 after purchasing an additional 199 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Laboratory Corporation of America Holdings by 55.5% in the 1st quarter. Toronto Dominion Bank now owns 27,613 shares of the medical research company’s stock worth $3,961,000 after purchasing an additional 9,857 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

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In related news, insider Lisa J. Uthgenannt sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total value of $800,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David P. King sold 44,687 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total transaction of $7,009,602.82. Following the completion of the transaction, the chief executive officer now directly owns 258,753 shares of the company’s stock, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders sold a total of 222,968 shares of company stock valued at $34,980,922 in the last three months. 0.90% of the stock is owned by company insiders.

Several equities research analysts have commented on LH shares. BidaskClub upgraded Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. ValuEngine lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Credit Suisse Group restated a “buy” rating and issued a $146.00 price objective on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Morgan Stanley upped their price objective on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday, August 10th. Finally, Craig Hallum restated a “buy” rating and issued a $179.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $164.00.

Shares of Laboratory Corporation of America Holdings (LH) traded down 0.1688% on Friday, hitting $153.8299. The stock had a trading volume of 167,200 shares. The company has a market cap of $15.66 billion, a price-to-earnings ratio of 21.5448 and a beta of 0.94. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The firm’s 50-day moving average is $156.78 and its 200-day moving average is $147.57.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $2.36 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Laboratory Corporation of America Holdings will post $9.54 EPS 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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