Laboratory Corp. of America Holdings (LH) Holdings Increased by Boston Research & Management Inc.

Boston Research & Management Inc. raised its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,101 shares of the medical research company’s stock after purchasing an additional 1,570 shares during the quarter. Boston Research & Management Inc.’s holdings in Laboratory Corp. of America were worth $3,533,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Commonwealth Bank of Australia increased its stake in shares of Laboratory Corp. of America by 21.3% in the fourth quarter. Commonwealth Bank of Australia now owns 10,902 shares of the medical research company’s stock worth $1,373,000 after acquiring an additional 1,911 shares during the last quarter. Norges Bank acquired a new position in shares of Laboratory Corp. of America in the fourth quarter worth $120,695,000. BRYN MAWR TRUST Co increased its stake in shares of Laboratory Corp. of America by 8.1% in the fourth quarter. BRYN MAWR TRUST Co now owns 35,695 shares of the medical research company’s stock worth $4,510,000 after acquiring an additional 2,666 shares during the last quarter. Stone Ridge Asset Management LLC increased its stake in shares of Laboratory Corp. of America by 8.7% in the fourth quarter. Stone Ridge Asset Management LLC now owns 5,934 shares of the medical research company’s stock worth $750,000 after acquiring an additional 475 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Laboratory Corp. of America by 7.3% in the fourth quarter. Nordea Investment Management AB now owns 2,120,509 shares of the medical research company’s stock worth $267,945,000 after acquiring an additional 143,426 shares during the last quarter. 91.26% of the stock is currently owned by institutional investors.

Laboratory Corp. of America stock opened at $164.41 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. Laboratory Corp. of America Holdings has a one year low of $119.38 and a one year high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.09. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Laboratory Corp. of America had a net margin of 8.59% and a return on equity of 16.59%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.78 earnings per share. On average, sell-side analysts predict that Laboratory Corp. of America Holdings will post 11.27 EPS for the current fiscal year.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 500 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.20, for a total transaction of $81,100.00. Following the completion of the sale, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert E. Mittelstaedt, Jr. sold 3,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $166.30, for a total transaction of $615,310.00. Following the sale, the director now owns 18,909 shares of the company’s stock, valued at $3,144,566.70. The disclosure for this sale can be found here. Insiders have sold 8,200 shares of company stock worth $1,352,410 over the last three months. Company insiders own 0.74% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Morgan Stanley set a $175.00 price target on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research note on Friday, February 22nd. Canaccord Genuity upped their price target on shares of Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. TheStreet raised shares of Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Finally, UBS Group set a $178.00 target price on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $179.00.

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Laboratory Corp. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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