First Republic Investment Management Inc. Purchases 6,422 Shares of Laboratory Corp. of America Holdings (LH)

First Republic Investment Management Inc. lifted its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 50.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,269 shares of the medical research company’s stock after purchasing an additional 6,422 shares during the period. First Republic Investment Management Inc.’s holdings in Laboratory Corp. of America were worth $3,460,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Laboratory Corp. of America by 7,033.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 633 shares in the last quarter. Squar Milner Financial Services LLC acquired a new stake in Laboratory Corp. of America in the second quarter valued at $150,000. Mount Yale Investment Advisors LLC acquired a new stake in Laboratory Corp. of America in the first quarter valued at $155,000. LeJeune Puetz Investment Counsel LLC acquired a new stake in Laboratory Corp. of America in the second quarter valued at $166,000. Finally, Synovus Financial Corp acquired a new stake in Laboratory Corp. of America in the first quarter valued at $199,000. 92.37% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on LH. Canaccord Genuity reaffirmed a “buy” rating and issued a $200.00 price target on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. SunTrust Banks reaffirmed a “buy” rating and issued a $220.00 price target on shares of Laboratory Corp. of America in a report on Friday, July 20th. KeyCorp raised shares of Laboratory Corp. of America from a “sector weight” rating to an “overweight” rating and set a $210.00 price target on the stock in a report on Thursday, June 7th. Deutsche Bank cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating and set a $172.00 price target on the stock. in a report on Wednesday, June 27th. Finally, ValuEngine cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $196.76.



Shares of NYSE:LH opened at $172.98 on Friday. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97. Laboratory Corp. of America Holdings has a 1-year low of $146.68 and a 1-year high of $190.35. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.42.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Wednesday, July 25th. The medical research company reported $2.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.06. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Laboratory Corp. of America had a net margin of 11.59% and a return on equity of 16.38%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.47 earnings per share. equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.52 EPS for the current year.

Laboratory Corp. of America Company Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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