Laboratory Corporation of America Holdings (LH) Position Boosted by Sei Investments Co.

Sei Investments Co. boosted its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,517 shares of the medical research company’s stock after buying an additional 3,320 shares during the quarter. Sei Investments Co. owned approximately 0.12% of Laboratory Corporation of America Holdings worth $19,100,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Regentatlantic Capital LLC raised its holdings in shares of Laboratory Corporation of America Holdings by 0.5% during the 2nd 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. New Amsterdam Partners LLC NY raised its holdings in shares of Laboratory Corporation of America Holdings by 0.7% during the 2nd 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. Fiduciary Financial Services of The Southwest Inc. TX raised its holdings in shares of Laboratory Corporation of America Holdings by 2.3% during the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,200 shares of the medical research company’s stock valued at $339,000 after purchasing an additional 50 shares in the last quarter. Financial Architects Inc raised its holdings in shares of Laboratory Corporation of America Holdings by 4.1% during the 2nd quarter. Financial Architects Inc now owns 1,613 shares of the medical research company’s stock valued at $248,000 after purchasing an additional 64 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its holdings in shares of Laboratory Corporation of America Holdings by 2.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,033 shares of the medical research company’s stock valued at $462,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 93.54% of the company’s stock.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Robert W. Baird restated a “hold” rating and set a $150.00 price target on shares of Laboratory Corporation of America Holdings in a report on Friday, October 27th. Barclays PLC raised their price target on shares of Laboratory Corporation of America Holdings from $183.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Deutsche Bank AG raised their price target on shares of Laboratory Corporation of America Holdings from $170.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Finally, Craig Hallum reiterated 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 Thursday, October 26th. Seven research 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. Laboratory Corporation of America Holdings presently has a consensus rating of “Buy” and an average price target of $169.00.

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Laboratory Corporation of America Holdings (NYSE:LH) traded down $1.42 during midday trading on Wednesday, reaching $148.49. 107,496 shares of the company’s stock traded hands, compared to its average volume of 722,362. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 1.18. The firm has a market cap of $15,360.00, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.59 and a beta of 0.87. Laboratory Corporation of America Holdings has a 52 week low of $123.36 and a 52 week high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.08. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the business posted $2.25 EPS. sell-side analysts forecast that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current year.

In other news, Director Dwight Gary Gilliland sold 971 shares of Laboratory Corporation of America Holdings stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the sale, the director now directly owns 3,501 shares in the company, valued at approximately $537,473.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider F Samuel Eberts III sold 31,500 shares of Laboratory Corporation of America Holdings stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the sale, the insider now owns 31,894 shares in the company, valued at $4,950,586.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 209,871 shares of company stock worth $32,892,005. 0.90% of the stock is owned by company insiders.

Laboratory Corporation of America Holdings Company 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).

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

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