British Columbia Investment Management Corp lowered its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 22.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,027 shares of the company’s stock after selling 15,248 shares during the period. British Columbia Investment Management Corp’s holdings in Laboratory Corp. of America Holdings were worth $7,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Boston Partners raised its position in Laboratory Corp. of America Holdings by 78.5% in the second quarter. Boston Partners now owns 3,555,298 shares of the company’s stock valued at $463,149,000 after buying an additional 1,563,105 shares in the last quarter. Vanguard Group Inc. raised its position in Laboratory Corp. of America Holdings by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,406,648 shares of the company’s stock valued at $1,225,404,000 after buying an additional 463,343 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new position in Laboratory Corp. of America Holdings during the second quarter valued at approximately $51,661,000. Bank of Montreal Can bought a new position in Laboratory Corp. of America Holdings during the second quarter valued at approximately $49,845,000. Finally, Bessemer Group Inc. raised its position in Laboratory Corp. of America Holdings by 58.9% in the second quarter. Bessemer Group Inc. now owns 850,573 shares of the company’s stock valued at $110,804,000 after buying an additional 315,250 shares in the last quarter. Hedge funds and other institutional investors own 91.24% of the company’s stock.

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

Laboratory Corp. of America Holdings (NYSE:LH) traded down 1.55% during trading on Wednesday, reaching $125.74. 302,146 shares of the company’s stock traded hands. The company has a market cap of $12.95 billion, a PE ratio of 19.94 and a beta of 0.96. Laboratory Corp. of America Holdings has a 12-month low of $97.79 and a 12-month high of $141.32. The company has a 50 day moving average price of $129.54 and a 200-day moving average price of $133.00.

Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $2.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.29 by $0.04. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Laboratory Corp. of America Holdings had a return on equity of 16.97% and a net margin of 6.85%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 EPS. On average, equities research analysts forecast that Laboratory Corp. of America Holdings will post $8.78 EPS for the current fiscal year.

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Several analysts have issued reports on the stock. Canaccord Genuity set a $140.00 price objective on shares of Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a research note on Sunday, October 30th. Citigroup Inc. assumed coverage on shares of Laboratory Corp. of America Holdings in a research note on Friday, September 9th. They issued a “neutral” rating and a $156.00 price objective for the company. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. KeyCorp raised their price objective on shares of Laboratory Corp. of America Holdings from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 16th. Finally, Barclays PLC set a $155.00 price objective on shares of Laboratory Corp. of America Holdings and gave the stock a “buy” rating in a research note on Monday, August 29th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $143.13.

About Laboratory Corp. of America Holdings

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

5 Day Chart for NYSE:LH

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