BlackRock Inc. Has $1.19 Billion Holdings in Laboratory Corporation of America Holdings (LH)

BlackRock Inc. lowered its position in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,728,026 shares of the medical research company’s stock after selling 346,352 shares during the quarter. BlackRock Inc. owned 7.59% of Laboratory Corporation of America Holdings worth $1,191,200,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Regentatlantic Capital LLC lifted its holdings in Laboratory Corporation of America Holdings by 0.5% during the second quarter. Regentatlantic Capital LLC now owns 1,696 shares of the medical research company’s stock valued at $261,000 after purchasing an additional 8 shares in the last quarter. Endurance Wealth Management Inc. lifted its holdings in Laboratory Corporation of America Holdings by 0.7% during the first quarter. Endurance Wealth Management Inc. now owns 1,510 shares of the medical research company’s stock valued at $217,000 after purchasing an additional 10 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Laboratory Corporation of America Holdings by 0.6% during the first quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock valued at $346,000 after purchasing an additional 15 shares in the last quarter. New Amsterdam Partners LLC NY lifted its holdings in Laboratory Corporation of America Holdings by 0.7% during the second quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock valued at $593,000 after purchasing an additional 27 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Laboratory Corporation of America Holdings by 0.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,143 shares of the medical research company’s stock valued at $594,000 after purchasing an additional 31 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at 153.60 on Friday. The company has a market cap of $15.64 billion, a PE ratio of 21.51 and a beta of 0.94. The company has a 50-day moving average of $156.60 and a 200 day moving average of $147.65. Laboratory Corporation of America Holdings has a 12 month low of $119.51 and a 12 month high of $164.22.

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

In other Laboratory Corporation of America Holdings news, Director R Sanders Williams sold 3,100 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $156.88, for a total value of $486,328.00. Following the transaction, the director now owns 10,073 shares in the company, valued at approximately $1,580,252.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider F Samuel Eberts III sold 31,500 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $155.22, for a total value of $4,889,430.00. Following the completion of the transaction, the insider now owns 31,894 shares in the company, valued at approximately $4,950,586.68. The disclosure for this sale can be found here. Insiders have sold a total of 222,968 shares of company stock worth $34,980,922 in the last quarter. Insiders own 0.90% of the company’s stock.

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Several equities analysts have recently commented on the stock. Craig Hallum reissued 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. Robert W. Baird reissued a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Sunday. Credit Suisse Group downgraded shares of Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 target price on the stock. in a report on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reissued an “overweight” rating and issued a $182.00 target price (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a report on Monday, July 17th. Finally, BidaskClub raised shares of Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $164.00.

Laboratory Corporation of America Holdings 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).

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

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