Laboratory Corporation of America Holdings (LH) Stake Increased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 8.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,279 shares of the medical research company’s stock after acquiring an additional 679 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Laboratory Corporation of America were worth $1,250,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Trexquant Investment LP bought a new stake in Laboratory Corporation of America during the 3rd quarter worth approximately $356,000. JPMorgan Chase & Co. increased its stake in Laboratory Corporation of America by 57.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,350,903 shares of the medical research company’s stock worth $202,298,000 after purchasing an additional 492,866 shares in the last quarter. Legal & General Group Plc increased its stake in Laboratory Corporation of America by 6.9% during the 3rd quarter. Legal & General Group Plc now owns 602,164 shares of the medical research company’s stock worth $90,894,000 after purchasing an additional 38,800 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Laboratory Corporation of America by 0.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 92,711 shares of the medical research company’s stock worth $13,863,000 after purchasing an additional 812 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Laboratory Corporation of America by 18.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 150,128 shares of the medical research company’s stock worth $22,665,000 after purchasing an additional 23,015 shares in the last quarter. 91.45% of the stock is owned by institutional investors.

A number of analysts recently issued reports on LH shares. Zacks Investment Research cut Laboratory Corporation of America from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Wells Fargo & Company started coverage on Laboratory Corporation of America in a research note on Thursday, October 12th. They set an “outperform” rating and a $175.00 target price for the company. Jefferies Group reissued a “hold” rating and set a $170.00 target price (up from $157.00) on shares of Laboratory Corporation of America in a research note on Wednesday, September 13th. Craig Hallum reaffirmed a “buy” rating and set a $180.00 price target (up previously from $175.00) on shares of Laboratory Corporation of America in a research report on Thursday, October 26th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $150.00 price target on shares of Laboratory Corporation of America in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $170.92.

Laboratory Corporation of America Holdings (LH) traded up $1.42 during trading hours on Tuesday, reaching $157.91. The company’s stock had a trading volume of 812,200 shares, compared to its average volume of 723,702. Laboratory Corporation of America Holdings has a 52-week low of $123.41 and a 52-week high of $164.22. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. The firm has a market cap of $15,930.68, a P/E ratio of 16.83, a P/E/G ratio of 1.66 and a beta of 0.87.

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

In other news, CEO David P. King sold 44,687 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 258,753 shares of the company’s stock, valued at approximately $40,587,995.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight Gary Gilliland sold 971 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $153.52, for a total value 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. Corporate insiders own 0.90% of the company’s stock.

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Laboratory Corporation of America 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 (NYSE:LH)

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