Rikoon Group LLC Acquires Shares of 1,246 Laboratory Corp. of America Holdings (NYSE:LH)

Rikoon Group LLC acquired a new stake in Laboratory Corp. of America Holdings (NYSE:LH) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,246 shares of the medical research company’s stock, valued at approximately $215,000.

Several other large investors also recently added to or reduced their stakes in LH. BlackRock Inc. grew its stake in shares of Laboratory Corp. of America by 2.6% in the first quarter. BlackRock Inc. now owns 10,029,286 shares of the medical research company’s stock valued at $1,534,283,000 after acquiring an additional 257,173 shares in the last quarter. FMR LLC grew its stake in shares of Laboratory Corp. of America by 81.4% in the first quarter. FMR LLC now owns 1,596,659 shares of the medical research company’s stock valued at $244,257,000 after acquiring an additional 716,703 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Laboratory Corp. of America by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,460,214 shares of the medical research company’s stock valued at $184,501,000 after acquiring an additional 34,797 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Laboratory Corp. of America by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,093 shares of the medical research company’s stock valued at $178,140,000 after acquiring an additional 111,859 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Laboratory Corp. of America by 17.5% in the first quarter. Lazard Asset Management LLC now owns 1,137,166 shares of the medical research company’s stock valued at $173,963,000 after acquiring an additional 169,233 shares in the last quarter. Hedge funds and other institutional investors own 89.72% of the company’s stock.

LH has been the topic of several research reports. Citigroup upped their price target on shares of Laboratory Corp. of America from $157.00 to $176.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley upped their price target on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a research note on Friday. KeyCorp upped their price target on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Canaccord Genuity upped their price target on shares of Laboratory Corp. of America from $155.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Finally, Mizuho upped their price target on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $185.91.

LH traded down $2.08 on Friday, hitting $165.86. 420,717 shares of the stock were exchanged, compared to its average volume of 772,865. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month high of $178.44. The business has a 50-day moving average of $169.48 and a two-hundred day moving average of $160.78. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.54 and a beta of 1.05.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, July 25th. The medical research company reported $2.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business posted $2.98 earnings per share. Laboratory Corp. of America’s revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Laboratory Corp. of America Holdings will post 11.28 earnings per share for the current fiscal year.

In other news, Director R Sanders Williams sold 500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $162.91, for a total value of $81,455.00. Following the completion of the transaction, the director now owns 6,886 shares of the company’s stock, valued at $1,121,798.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn A. Eisenberg sold 5,563 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $176.75, for a total transaction of $983,260.25. Following the completion of the transaction, the chief financial officer now directly owns 17,059 shares of the company’s stock, valued at approximately $3,015,178.25. The disclosure for this sale can be found here. Insiders sold 21,491 shares of company stock valued at $3,677,189 in the last three months. Company insiders own 0.74% of the company’s stock.

About Laboratory Corp. of America

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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