Laboratory Corp. of America Holdings (LH) Holdings Lifted by Calamos Wealth Management LLC

Calamos Wealth Management LLC boosted its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,776 shares of the medical research company’s stock after acquiring an additional 2,019 shares during the period. Calamos Wealth Management LLC’s holdings in Laboratory Corp. of America were worth $7,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners lifted its holdings in Laboratory Corp. of America by 7.8% during the first quarter. Boston Partners now owns 5,673,767 shares of the medical research company’s stock worth $917,732,000 after acquiring an additional 409,742 shares in the last quarter. Iridian Asset Management LLC CT lifted its holdings in shares of Laboratory Corp. of America by 4.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,690,921 shares of the medical research company’s stock valued at $273,506,000 after purchasing an additional 72,695 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Laboratory Corp. of America by 532.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 835,557 shares of the medical research company’s stock valued at $135,151,000 after purchasing an additional 703,375 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in shares of Laboratory Corp. of America by 5.4% in the first quarter. OppenheimerFunds Inc. now owns 797,222 shares of the medical research company’s stock valued at $128,949,000 after purchasing an additional 40,969 shares in the last quarter. Finally, Allen Investment Management LLC lifted its holdings in shares of Laboratory Corp. of America by 2.9% in the first quarter. Allen Investment Management LLC now owns 792,118 shares of the medical research company’s stock valued at $128,125,000 after purchasing an additional 22,243 shares in the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.

In related news, CEO David P. King sold 49,967 shares of the company’s stock in a transaction dated Monday, April 23rd. The stock was sold at an average price of $166.12, for a total transaction of $8,300,518.04. Following the sale, the chief executive officer now owns 271,636 shares in the company, valued at $45,124,172.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Edward T. Dodson sold 13,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $183.35, for a total value of $2,383,550.00. Following the sale, the insider now owns 22,113 shares in the company, valued at approximately $4,054,418.55. The disclosure for this sale can be found here. Insiders have sold 129,043 shares of company stock worth $22,371,980 in the last quarter. 0.73% of the stock is currently owned by corporate insiders.

LH has been the topic of a number of research reports. ValuEngine upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Argus initiated coverage on Laboratory Corp. of America in a report on Friday, March 23rd. They issued a “buy” rating and a $202.00 price target on the stock. Zacks Investment Research lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Monday, April 30th. Deutsche Bank lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a report on Wednesday, June 27th. Finally, Mizuho restated a “hold” rating on shares of Laboratory Corp. of America in a report on Friday, May 25th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Laboratory Corp. of America has an average rating of “Buy” and an average price target of $192.18.

LH traded down $1.60 on Tuesday, hitting $184.84. 24,971 shares of the company were exchanged, compared to its average volume of 650,848. Laboratory Corp. of America Holdings has a 12 month low of $146.68 and a 12 month high of $190.35. The firm has a market capitalization of $19.08 billion, a PE ratio of 19.31, a PEG ratio of 1.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.27 and a current ratio of 1.38.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Wednesday, April 25th. The medical research company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. Laboratory Corp. of America had a return on equity of 16.33% and a net margin of 11.52%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. Laboratory Corp. of America’s revenue was up 18.0% on a year-over-year basis. research analysts forecast that Laboratory Corp. of America Holdings will post 11.55 earnings per share for the current year.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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