Tocqueville Asset Management L.P. Increases Holdings in Laboratory Corporation of America Holdings (LH)

Tocqueville Asset Management L.P. raised its holdings in shares of Laboratory Corporation of America Holdings (NYSE:LH) by 1,906.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,677 shares of the medical research company’s stock after acquiring an additional 31,048 shares during the period. Tocqueville Asset Management L.P.’s holdings in Laboratory Corporation of America Holdings were worth $4,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC lifted its stake in shares of Laboratory Corporation of America Holdings by 16.5% in the 2nd quarter. Acrospire Investment Management LLC now owns 705 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 100 shares during the period. Sun Life Financial INC lifted its stake in shares of Laboratory Corporation of America Holdings by 9,200.0% in the 2nd quarter. Sun Life Financial INC now owns 744 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 736 shares during the period. IFP Advisors Inc lifted its stake in shares of Laboratory Corporation of America Holdings by 83.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the medical research company’s stock valued at $177,000 after purchasing an additional 523 shares during the period. Hourglass Capital LLC acquired a new position in shares of Laboratory Corporation of America Holdings in the 2nd quarter valued at $200,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Laboratory Corporation of America Holdings in the 1st quarter valued at $208,000. Institutional investors and hedge funds own 93.84% of the company’s stock.

In related news, Director R Sanders Williams sold 3,100 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $156.88, for a total value of $486,328.00. Following the completion of the sale, the director now owns 10,073 shares of the company’s stock, valued at $1,580,252.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight Gary Gilliland sold 971 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $153.52, for a total transaction of $149,067.92. Following the completion of the sale, the director now directly owns 3,501 shares of the company’s stock, valued at approximately $537,473.52. The disclosure for this sale can be found here. Insiders have sold 212,971 shares of company stock valued at $33,378,333 in the last ninety days. Insiders own 0.90% of the company’s stock.

Several research firms recently issued reports on LH. Robert W. Baird reiterated a “hold” rating and issued a $150.00 target price on shares of Laboratory Corporation of America Holdings in a research note on Friday, October 27th. Craig Hallum reiterated a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Laboratory Corporation of America Holdings in a research note on Thursday, October 26th. Deutsche Bank AG boosted their target price on shares of Laboratory Corporation of America Holdings from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. ValuEngine lowered shares of Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, KeyCorp reissued a “hold” rating on shares of Laboratory Corporation of America Holdings in a report on Tuesday, September 26th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Laboratory Corporation of America Holdings currently has a consensus rating of “Buy” and an average price target of $169.00.

Shares of Laboratory Corporation of America Holdings (LH) opened at $153.74 on Monday. The firm has a market capitalization of $15,650.73, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.63 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18.

Laboratory Corporation of America Holdings (NYSE:LH) last released its earnings results on Wednesday, October 25th. The medical research company reported $2.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a net margin of 7.40% and a return on equity of 16.75%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm earned $2.25 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. analysts predict that Laboratory Corporation of America Holdings will post 9.52 earnings per share for the current fiscal year.

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Laboratory Corporation of America Holdings Company Profile

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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