Alberta Investment Management Corp Has $2.59 Million Position in Laboratory Corp. of America Holdings (NYSE:LH)

Alberta Investment Management Corp lowered its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,500 shares of the medical research company’s stock after selling 1,500 shares during the quarter. Alberta Investment Management Corp’s holdings in Laboratory Corp. of America were worth $2,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of Laboratory Corp. of America during the first quarter worth about $97,000. Swiss National Bank raised its position in shares of Laboratory Corp. of America by 20.4% during the first quarter. Swiss National Bank now owns 478,188 shares of the medical research company’s stock worth $60,438,000 after purchasing an additional 80,900 shares during the period. BRYN MAWR TRUST Co raised its position in shares of Laboratory Corp. of America by 5.3% during the first quarter. BRYN MAWR TRUST Co now owns 38,383 shares of the medical research company’s stock worth $4,851,000 after purchasing an additional 1,920 shares during the period. Cetera Advisor Networks LLC raised its position in shares of Laboratory Corp. of America by 17.2% during the first quarter. Cetera Advisor Networks LLC now owns 2,244 shares of the medical research company’s stock worth $284,000 after purchasing an additional 330 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Laboratory Corp. of America by 26.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,224 shares of the medical research company’s stock worth $408,000 after purchasing an additional 684 shares during the period. 90.73% of the stock is currently owned by institutional investors.

LH stock opened at $170.16 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $153.01 and a two-hundred day moving average price of $164.91. The company has a market cap of $16.75 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 3.77 and a beta of 1.37. Laboratory Corp. of America Holdings has a twelve month low of $98.02 and a twelve month high of $196.36.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, April 29th. The medical research company reported $2.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.42. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.73 billion. Laboratory Corp. of America had a return on equity of 15.03% and a net margin of 2.77%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $2.62 earnings per share. On average, equities research analysts anticipate that Laboratory Corp. of America Holdings will post 8.81 EPS for the current fiscal year.

In other Laboratory Corp. of America news, EVP Judith C. Seltz bought 250 shares of Laboratory Corp. of America stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $174.94 per share, for a total transaction of $43,735.00. Following the purchase, the executive vice president now owns 250 shares of the company’s stock, valued at approximately $43,735. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Judith C. Seltz bought 330 shares of Laboratory Corp. of America stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average price of $168.56 per share, with a total value of $55,624.80. Following the completion of the purchase, the executive vice president now directly owns 250 shares in the company, valued at approximately $42,140. The disclosure for this purchase can be found here. 0.70% of the stock is owned by company insiders.

A number of research firms have recently commented on LH. KeyCorp lowered Laboratory Corp. of America from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 29th. Bank of America lifted their target price on Laboratory Corp. of America from $147.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Citigroup raised Laboratory Corp. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $204.00 to $214.00 in a research report on Monday, April 27th. JPMorgan Chase & Co. lifted their target price on Laboratory Corp. of America from $149.00 to $188.00 in a research report on Thursday, April 30th. Finally, TheStreet lowered Laboratory Corp. of America from a “b-” rating to a “c+” rating in a research report on Thursday, March 26th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $199.56.

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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