Laboratory Corporation of America Holdings (LH) Shares Bought by Aberdeen Asset Management PLC UK

Aberdeen Asset Management PLC UK lifted its holdings in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 26.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,423 shares of the medical research company’s stock after buying an additional 6,740 shares during the period. Aberdeen Asset Management PLC UK’s holdings in Laboratory Corporation of America Holdings were worth $4,998,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of LH. Parallel Advisors LLC increased its holdings in Laboratory Corporation of America Holdings by 377.7% in the 1st quarter. Parallel Advisors LLC now owns 1,261 shares of the medical research company’s stock worth $177,000 after purchasing an additional 997 shares in the last quarter. IFP Advisors Inc increased its holdings in Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock worth $177,000 after purchasing an additional 523 shares in the last quarter. Hourglass Capital LLC acquired a new position in Laboratory Corporation of America Holdings in the 2nd quarter worth about $200,000. Ingalls & Snyder LLC acquired a new position in Laboratory Corporation of America Holdings in the 1st quarter worth about $206,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Laboratory Corporation of America Holdings in the 1st quarter worth about $208,000. 93.21% of the stock is owned by institutional investors.

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Shares of Laboratory Corporation of America Holdings (NYSE LH) opened at 153.60 on Friday. Laboratory Corporation of America Holdings has a 52 week low of $119.51 and a 52 week high of $164.22. The firm has a market cap of $15.64 billion, a PE ratio of 21.51 and a beta of 0.94. The stock has a 50 day moving average price of $156.60 and a 200 day moving average price of $147.65.

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

In other news, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now owns 18,122 shares in the company, valued at $2,889,734.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lisa J. Uthgenannt sold 5,000 shares of Laboratory Corporation of America Holdings stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total value of $800,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 222,968 shares of company stock worth $34,980,922. Company insiders own 0.90% of the company’s stock.

LH has been the subject of a number of recent research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, September 11th. ValuEngine raised Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Craig Hallum reaffirmed a “buy” rating and issued a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a report on Thursday, July 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a report on Sunday, May 28th. Finally, BidaskClub raised Laboratory Corporation of America Holdings from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Laboratory Corporation of America Holdings has an average rating of “Buy” and a consensus price target of $164.00.

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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