Silvercrest Asset Management Group LLC Acquires 29,414 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Silvercrest Asset Management Group LLC raised its position in Laboratory Corp. of America Holdings (NYSE:LH) by 6.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 454,951 shares of the medical research company’s stock after purchasing an additional 29,414 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.46% of Laboratory Corp. of America worth $78,661,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of LH. Steward Partners Investment Advisory LLC bought a new stake in Laboratory Corp. of America in the second quarter valued at approximately $32,000. Legacy Advisors LLC bought a new stake in Laboratory Corp. of America in the second quarter valued at approximately $33,000. C M Bidwell & Associates Ltd. boosted its holdings in shares of Laboratory Corp. of America by 1,636.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock valued at $33,000 after buying an additional 180 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Laboratory Corp. of America in the second quarter valued at approximately $33,000. Finally, Bremer Bank National Association acquired a new position in shares of Laboratory Corp. of America in the first quarter valued at approximately $35,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

LH traded down $1.26 during trading hours on Tuesday, hitting $171.49. 14,782 shares of the company’s stock were exchanged, compared to its average volume of 490,460. Laboratory Corp. of America Holdings has a 1-year low of $119.38 and a 1-year high of $178.44. The stock’s 50-day moving average is $167.28 and its two-hundred day moving average is $163.37. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.77 and a beta of 1.04. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.95.



Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Thursday, July 25th. The medical research company reported $2.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.03. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the company posted $2.98 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts anticipate that Laboratory Corp. of America Holdings will post 11.29 EPS for the current year.

In related news, Director R Sanders Williams sold 500 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the completion of the transaction, the director now owns 6,886 shares in the company, valued at $1,121,798.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa J. Uthgenannt sold 2,466 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $168.59, for a total transaction of $415,742.94. The disclosure for this sale can be found here. Insiders have sold 19,859 shares of company stock valued at $3,421,092 in the last 90 days. 0.74% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Deutsche Bank upgraded shares of Laboratory Corp. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $180.00 to $220.00 in a report on Thursday, June 20th. Mizuho upped their price target on shares of Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a report on Monday, May 20th. KeyCorp upped their price target on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Barclays set a $200.00 price target on shares of Laboratory Corp. of America and gave the company a “buy” rating in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $185.91.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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