Laboratory Corp. of America Holdings (LH) Shares Bought by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,237,705 shares of the medical research company’s stock after acquiring an additional 34,809 shares during the period. Bank of America Corp DE owned approximately 1.23% of Laboratory Corp. of America worth $156,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its position in Laboratory Corp. of America by 6.9% in the 4th quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock valued at $1,234,806,000 after buying an additional 633,105 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Laboratory Corp. of America by 16,859.4% in the 3rd quarter. Rehmann Capital Advisory Group now owns 544,566 shares of the medical research company’s stock valued at $1,062,784,000 after buying an additional 541,355 shares in the last quarter. Brandes Investment Partners LP increased its position in Laboratory Corp. of America by 559.8% in the 4th quarter. Brandes Investment Partners LP now owns 345,870 shares of the medical research company’s stock valued at $43,703,000 after buying an additional 293,453 shares in the last quarter. Morgan Stanley increased its position in Laboratory Corp. of America by 30.9% in the 3rd quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock valued at $174,843,000 after buying an additional 237,918 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Laboratory Corp. of America by 666.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 253,000 shares of the medical research company’s stock valued at $31,969,000 after buying an additional 220,000 shares in the last quarter. 90.22% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE LH opened at $156.30 on Friday. Laboratory Corp. of America Holdings has a twelve month low of $119.38 and a twelve month high of $190.35. The company has a market capitalization of $15.38 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.77 and a beta of 1.15. The company has a current ratio of 1.51, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Laboratory Corp. of America had a net margin of 8.43% and a return on equity of 17.05%. Laboratory Corp. of America’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 EPS. On average, analysts forecast that Laboratory Corp. of America Holdings will post 11.22 EPS for the current fiscal year.

LH has been the subject of a number of analyst reports. Morgan Stanley cut their price target on Laboratory Corp. of America from $202.00 to $180.00 in a research note on Sunday, December 9th. KeyCorp cut their price target on Laboratory Corp. of America from $210.00 to $165.00 and set an “overweight” rating for the company in a research note on Thursday, December 6th. They noted that the move was a valuation call. Goldman Sachs Group downgraded Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and cut their price target for the company from $190.00 to $180.00 in a research note on Friday, November 30th. William Blair reiterated a “buy” rating on shares of Laboratory Corp. of America in a research note on Monday, December 3rd. Finally, Bank of America downgraded Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $176.60.

In related news, Director R Sanders Williams sold 1,038 shares of Laboratory Corp. of America stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $147.00, for a total value of $152,586.00. Following the sale, the director now owns 8,924 shares of the company’s stock, valued at approximately $1,311,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.73% of the company’s stock.

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Laboratory Corp. of America 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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