Laboratory Corp. of America Holdings (LH) Shares Bought by Smith Salley & Associates

Smith Salley & Associates increased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,116 shares of the medical research company’s stock after acquiring an additional 951 shares during the period. Laboratory Corp. of America makes up about 1.3% of Smith Salley & Associates’ investment portfolio, making the stock its 27th largest position. Smith Salley & Associates’ holdings in Laboratory Corp. of America were worth $8,183,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legacy Financial Advisors Inc. lifted its holdings in shares of Laboratory Corp. of America by 763.9% in the third quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock valued at $108,000 after buying an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of 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 buying an additional 633 shares during the period. Fort L.P. acquired a new stake in shares of Laboratory Corp. of America in the second quarter valued at $118,000. Squar Milner Financial Services LLC acquired a new stake in shares of Laboratory Corp. of America in the second quarter valued at $150,000. Finally, NuWave Investment Management LLC lifted its holdings in shares of Laboratory Corp. of America by 5,786.7% in the third quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock valued at $154,000 after buying an additional 868 shares during the period. Institutional investors and hedge funds own 91.99% of the company’s stock.

LH has been the subject of several research analyst reports. SunTrust Banks restated a “buy” rating and issued a $220.00 price objective on shares of Laboratory Corp. of America in a report on Friday, July 20th. Canaccord Genuity restated a “buy” rating and issued a $200.00 price objective on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. Jefferies Financial Group restated a “neutral” rating and issued a $180.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Mizuho restated a “hold” rating and issued a $189.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Finally, Deutsche Bank reduced their target price on Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating for the company in a report on Monday, August 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Laboratory Corp. of America has a consensus rating of “Buy” and an average price target of $192.19.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $163.29, for a total transaction of $604,173.00. Following the completion of the sale, the director now directly owns 21,795 shares of the company’s stock, valued at $3,558,905.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

Shares of NYSE LH opened at $170.15 on Friday. Laboratory Corp. of America Holdings has a 12 month low of $147.70 and a 12 month high of $190.35. The firm has a market cap of $17.25 billion, a PE ratio of 17.72, a P/E/G ratio of 1.62 and a beta of 1.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.44.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Laboratory Corp. of America Holdings will post 11.33 earnings per share for the current fiscal year.

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About Laboratory Corp. of America

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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