Laboratory Corporation of America Holdings (LH) Stake Maintained by Bp Plc

Bp Plc continued to hold its position in Laboratory Corporation of America Holdings (NYSE:LH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,400 shares of the medical research company’s stock at the end of the second quarter. Bp Plc’s holdings in Laboratory Corporation of America Holdings were worth $1,911,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CFO4Life Group LLC acquired a new position in shares of Laboratory Corporation of America Holdings during the first quarter worth $312,000. Oxford Asset Management raised its position in shares of Laboratory Corporation of America Holdings by 68.6% in the first quarter. Oxford Asset Management now owns 51,622 shares of the medical research company’s stock worth $7,406,000 after buying an additional 21,003 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Laboratory Corporation of America Holdings by 2.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,900 shares of the medical research company’s stock worth $1,420,000 after buying an additional 199 shares during the period. Elkfork Partners LLC raised its position in shares of Laboratory Corporation of America Holdings by 2.4% in the first quarter. Elkfork Partners LLC now owns 12,936 shares of the medical research company’s stock worth $1,856,000 after buying an additional 308 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Laboratory Corporation of America Holdings by 55.5% in the first quarter. Toronto Dominion Bank now owns 27,613 shares of the medical research company’s stock worth $3,961,000 after buying an additional 9,857 shares during the period. 91.89% of the stock is owned by hedge funds and other institutional investors.

Shares of Laboratory Corporation of America Holdings (LH) opened at 156.21 on Friday. Laboratory Corporation of America Holdings has a 52-week low of $119.51 and a 52-week high of $164.22. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 21.88 and a beta of 0.94. The stock’s 50 day moving average is $155.35 and its 200 day moving average is $144.27.

Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a return on equity of 16.85% and a net margin of 7.57%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business posted $2.36 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Laboratory Corporation of America Holdings will post $9.51 EPS for the current fiscal year.

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A number of equities analysts have weighed in on LH shares. Craig Hallum reissued a “buy” rating and issued a $179.00 target price (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Credit Suisse Group reissued a “buy” rating and issued a $146.00 target price on shares of Laboratory Corporation of America Holdings in a research report on Sunday, May 28th. Morgan Stanley boosted their target price on Laboratory Corporation of America Holdings from $154.00 to $166.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Group LLC decreased their target price on Laboratory Corporation of America Holdings from $159.00 to $157.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Finally, BidaskClub raised Laboratory Corporation of America Holdings from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 28th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $159.00.

In related news, CFO Glenn A. Eisenberg sold 5,968 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total transaction of $951,657.28. Following the completion of the transaction, the chief financial officer now directly owns 18,122 shares in the company, valued at $2,889,734.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lance Berberian sold 3,613 shares of Laboratory Corporation of America Holdings stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $139.84, for a total value of $505,241.92. Following the transaction, the senior vice president now owns 5,789 shares of the company’s stock, valued at $809,533.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,581 shares of company stock valued at $2,256,899. Company insiders own 0.90% of the company’s stock.

About Laboratory Corporation of America Holdings

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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