Laboratory Corp. of America Holdings (NYSE:LH) Shares Acquired by Ironvine Capital Partners LLC

Ironvine Capital Partners LLC raised its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,674 shares of the medical research company’s stock after acquiring an additional 7,975 shares during the period. Laboratory Corp. of America makes up about 2.0% of Ironvine Capital Partners LLC’s portfolio, making the stock its 24th biggest position. Ironvine Capital Partners LLC owned about 0.08% of Laboratory Corp. of America worth $13,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA increased its holdings in shares of Laboratory Corp. of America by 1.4% during the 2nd quarter. Private Trust Co. NA now owns 5,172 shares of the medical research company’s stock valued at $894,000 after purchasing an additional 72 shares in the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Laboratory Corp. of America by 9.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,368 shares of the medical research company’s stock valued at $236,000 after purchasing an additional 118 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Laboratory Corp. of America by 3.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,061 shares of the medical research company’s stock valued at $2,085,000 after purchasing an additional 439 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Laboratory Corp. of America by 76.9% during the 2nd quarter. Retirement Systems of Alabama now owns 81,197 shares of the medical research company’s stock valued at $14,039,000 after purchasing an additional 35,285 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in shares of Laboratory Corp. of America by 5.2% during the 2nd quarter. Triangle Securities Wealth Management now owns 3,228 shares of the medical research company’s stock valued at $568,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 90.37% of the company’s stock.

Laboratory Corp. of America stock opened at $164.26 on Friday. Laboratory Corp. of America Holdings has a 52-week low of $119.38 and a 52-week high of $178.44. The firm has a market capitalization of $16.05 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.89 and a beta of 1.03. The company has a fifty day simple moving average of $168.92 and a 200-day simple moving average of $166.40. 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 released its earnings results on Thursday, October 24th. The medical research company reported $2.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.05. Laboratory Corp. of America had a net margin of 8.19% and a return on equity of 16.28%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the firm earned $2.74 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Laboratory Corp. of America Holdings will post 11.29 EPS for the current fiscal year.

Several equities analysts have recently weighed in on LH shares. Morgan Stanley lifted their target price 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. Bank of America raised shares of Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target for the company in a report on Tuesday, July 16th. UBS Group cut their price target on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a report on Monday. KeyCorp boosted their price target on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $170.00 price target on shares of Laboratory Corp. of America in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $185.24.

In other news, Director R Sanders Williams sold 500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the transaction, the director now owns 6,886 shares of the company’s stock, valued at approximately $1,121,798.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 2,600 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.85, for a total transaction of $446,810.00. The disclosure for this sale can be found here. Insiders have sold 11,468 shares of company stock valued at $1,946,168 in the last ninety days. Insiders own 0.74% of the company’s stock.

Laboratory Corp. of America Profile

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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