Davidson Investment Advisors Acquires 187 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

Davidson Investment Advisors increased its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,287 shares of the medical research company’s stock after buying an additional 187 shares during the period. Davidson Investment Advisors owned about 0.06% of Laboratory Corp. of America worth $10,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of LH. JPMorgan Chase & Co. increased its position in shares of Laboratory Corp. of America by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 1,615,327 shares of the medical research company’s stock worth $276,172,000 after purchasing an additional 38,691 shares in the last quarter. Invesco Ltd. increased its position in shares of Laboratory Corp. of America by 93.4% during the second quarter. Invesco Ltd. now owns 1,184,747 shares of the medical research company’s stock worth $204,844,000 after purchasing an additional 572,088 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of Laboratory Corp. of America by 9.9% during the second quarter. Iridian Asset Management LLC CT now owns 1,030,089 shares of the medical research company’s stock worth $178,102,000 after purchasing an additional 92,997 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Laboratory Corp. of America by 10,436.0% during the second quarter. Nuveen Asset Management LLC now owns 1,022,410 shares of the medical research company’s stock worth $176,775,000 after purchasing an additional 1,012,706 shares in the last quarter. Finally, Allen Investment Management LLC increased its position in shares of Laboratory Corp. of America by 5.5% during the second quarter. Allen Investment Management LLC now owns 1,008,774 shares of the medical research company’s stock worth $174,417,000 after purchasing an additional 52,887 shares in the last quarter. 91.02% of the stock is owned by institutional investors.

In other Laboratory Corp. of America news, insider Lisa J. Uthgenannt sold 2,466 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $168.59, for a total value of $415,742.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David P. King sold 30,177 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $165.40, for a total transaction of $4,991,275.80. The disclosure for this sale can be found here. Insiders have sold 41,145 shares of company stock worth $6,855,988 over the last three months. Corporate insiders own 0.74% of the company’s stock.

Shares of LH traded down $0.92 during trading hours on Tuesday, reaching $164.91. 1,235 shares of the company traded hands, compared to its average volume of 543,067. The stock has a market capitalization of $16.35 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.89 and a beta of 1.01. The company has a quick ratio of 1.08, a current ratio of 1.17 and a debt-to-equity ratio of 0.93. Laboratory Corp. of America Holdings has a 12-month low of $119.38 and a 12-month high of $178.44. The business has a fifty day moving average price of $166.86 and a 200-day moving average price of $167.50.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.05. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.91 billion. Laboratory Corp. of America had a net margin of 6.63% and a return on equity of 15.33%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.74 earnings per share. As a group, research analysts predict that Laboratory Corp. of America Holdings will post 11.26 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on LH shares. KeyCorp upped their price target on Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Barclays set a $200.00 price target on Laboratory Corp. of America and gave the stock a “buy” rating in a research report on Monday, July 15th. Bank of America raised Laboratory Corp. of America from an “underperform” rating to a “neutral” rating and set a $174.60 price target on the stock in a research report on Tuesday, July 16th. Morgan Stanley upped their price target on Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $170.00 price target on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $184.90.

Laboratory Corp. of America Company 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.

See Also: Market Timing

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

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.