Laboratory Corporation of America Holdings (LH) Position Boosted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,631 shares of the medical research company’s stock after acquiring an additional 220 shares during the period. Oppenheimer & Co. Inc.’s holdings in Laboratory Corporation of America Holdings were worth $405,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC grew its stake in Laboratory Corporation of America Holdings by 377.7% during the first quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 997 shares in the last quarter. IFP Advisors Inc grew its stake in Laboratory Corporation of America Holdings by 83.9% during the second quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after acquiring an additional 523 shares in the last quarter. Hourglass Capital LLC purchased a new position in Laboratory Corporation of America Holdings during the second quarter valued at approximately $200,000. Ingalls & Snyder LLC purchased a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $206,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Laboratory Corporation of America Holdings during the first quarter valued at approximately $208,000. 93.21% of the stock is owned by institutional investors.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at 153.60 on Friday. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 21.51 and a beta of 0.94. The stock has a 50 day moving average of $156.60 and a 200-day moving average of $147.65.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its earnings results on Wednesday, July 26th. The medical research company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the firm posted $2.36 earnings per share. Laboratory Corporation of America Holdings’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Laboratory Corporation of America Holdings will post $9.54 earnings per share for the current year.

Several equities research analysts have issued reports on LH shares. Credit Suisse Group reiterated a “buy” rating and set a $146.00 target price on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. BidaskClub lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Barclays PLC reiterated an “overweight” rating and set a $182.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Monday, July 17th. Finally, Craig Hallum reiterated a “buy” rating and set a $179.00 target price (up 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 issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $164.00.

In related news, CEO David P. King sold 132,713 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $157.06, for a total value of $20,843,903.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,968 shares of company stock valued at $34,980,922. 0.90% of the stock is currently owned by insiders.

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About Laboratory Corporation of America Holdings

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).

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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