Boston Advisors LLC Has $3.66 Million Holdings in Laboratory Corporation of America Holdings (LH)

Boston Advisors LLC lessened its holdings in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 7.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 24,239 shares of the medical research company’s stock after selling 2,065 shares during the quarter. Boston Advisors LLC’s holdings in Laboratory Corporation of America Holdings were worth $3,659,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Knowledge Leaders Capital LLC boosted its position in Laboratory Corporation of America Holdings by 8.8% during the 3rd quarter. Knowledge Leaders Capital LLC now owns 29,520 shares of the medical research company’s stock worth $4,457,000 after acquiring an additional 2,376 shares during the period. Nationwide Fund Advisors boosted its position in Laboratory Corporation of America Holdings by 6.3% during the 3rd quarter. Nationwide Fund Advisors now owns 66,317 shares of the medical research company’s stock worth $10,012,000 after acquiring an additional 3,936 shares during the period. Gilman Hill Asset Management LLC acquired a new position in Laboratory Corporation of America Holdings during the 3rd quarter worth $226,000. Smith Graham & Co. Investment Advisors LP acquired a new position in Laboratory Corporation of America Holdings during the 3rd quarter worth $1,643,000. Finally, Rockefeller Financial Services Inc. boosted its position in Laboratory Corporation of America Holdings by 1,494.8% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 2,137 shares of the medical research company’s stock worth $323,000 after acquiring an additional 2,003 shares during the period. Institutional investors own 93.39% of the company’s stock.

LH has been the subject of a number of analyst reports. Credit Suisse Group lowered Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target for the company. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Barclays PLC reiterated an “overweight” rating and set a $182.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Monday, July 17th. Craig Hallum reiterated a “buy” rating and set a $179.00 price target (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, July 27th. Zacks Investment Research upgraded Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Morgan Stanley boosted their price target 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, August 10th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings has a consensus rating of “Buy” and a consensus price target of $169.00.

In other news, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now directly owns 18,122 shares in the company, valued at approximately $2,889,734.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David P. King sold 44,687 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total value of $7,009,602.82. Following the completion of the transaction, the chief executive officer now owns 258,753 shares in the company, valued at $40,587,995.58. The disclosure for this sale can be found here. Insiders sold a total of 222,968 shares of company stock valued at $34,980,922 over the last three months. Insiders own 0.90% of the company’s stock.

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Shares of Laboratory Corporation of America Holdings (NYSE:LH) opened at 155.40 on Monday. The stock’s 50 day moving average price is $152.21 and its 200 day moving average price is $149.42. The stock has a market capitalization of $15.82 billion, a P/E ratio of 21.76 and a beta of 0.92. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22.

Laboratory Corporation of America Holdings (NYSE:LH) last released its earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.08. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $2.25 EPS. On average, analysts forecast that Laboratory Corporation of America Holdings will post $9.52 EPS for the current year.

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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