Laboratory Corp. of America Holdings (LH) Holdings Raised by United Services Automobile Association

United Services Automobile Association raised its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 32.3% in the third quarter, HoldingsChannel.com reports. The fund owned 78,545 shares of the medical research company’s stock after buying an additional 19,155 shares during the quarter. United Services Automobile Association’s holdings in Laboratory Corp. of America were worth $13,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. increased its position 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 in the last quarter. First Trust Advisors LP increased its position in shares of Laboratory Corp. of America by 4.8% in the second quarter. First Trust Advisors LP now owns 181,535 shares of the medical research company’s stock valued at $32,591,000 after buying an additional 8,278 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Laboratory Corp. of America by 6.7% in the second quarter. Victory Capital Management Inc. now owns 45,868 shares of the medical research company’s stock valued at $8,235,000 after buying an additional 2,873 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Laboratory Corp. of America by 17.1% in the second quarter. D.A. Davidson & CO. now owns 8,759 shares of the medical research company’s stock valued at $1,573,000 after buying an additional 1,280 shares in the last quarter. Finally, Sigma Planning Corp purchased a new position in shares of Laboratory Corp. of America in the second quarter valued at $274,000. 91.68% of the stock is owned by institutional investors.

Laboratory Corp. of America stock opened at $141.96 on Friday. The stock has a market cap of $14.49 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.47 and a beta of 0.99. Laboratory Corp. of America Holdings has a 52 week low of $139.18 and a 52 week high of $190.35. 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 posted its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.14). The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 EPS. As a group, sell-side analysts forecast that Laboratory Corp. of America Holdings will post 10.99 earnings per share for the current year.

A number of brokerages have recently weighed in on LH. Barclays dropped their price target on Laboratory Corp. of America from $205.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, December 3rd. Argus restated a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, August 22nd. Zacks Investment Research upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. ValuEngine cut Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. Finally, William Blair restated a “buy” rating on shares of Laboratory Corp. of America in a research report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $179.69.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 350 shares of Laboratory Corp. of America stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the sale, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,700 shares of Laboratory Corp. of America stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the sale, the director now owns 21,795 shares of the company’s stock, valued at approximately $3,558,905.55. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

WARNING: This report was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.thelincolnianonline.com/2018/12/08/laboratory-corp-of-america-holdings-lh-holdings-raised-by-united-services-automobile-association.html.

Laboratory Corp. of America Profile

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.

See Also: Bull Market

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corp. of America Holdings (NYSE:LH).

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.

Leave a Reply