Commonwealth Bank of Australia Acquires 1,911 Shares of Laboratory Corp. of America Holdings (LH)

Commonwealth Bank of Australia boosted its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,902 shares of the medical research company’s stock after purchasing an additional 1,911 shares during the quarter. Commonwealth Bank of Australia’s holdings in Laboratory Corp. of America were worth $1,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Laboratory Corp. of America by 6.9% during the fourth quarter. BlackRock Inc. now owns 9,772,113 shares of the medical research company’s stock valued at $1,234,806,000 after buying an additional 633,105 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Laboratory Corp. of America by 16,859.4% during the third quarter. Rehmann Capital Advisory Group now owns 544,566 shares of the medical research company’s stock valued at $1,062,784,000 after buying an additional 541,355 shares during the last quarter. Brandes Investment Partners LP grew its holdings in shares of Laboratory Corp. of America by 559.8% during the fourth quarter. Brandes Investment Partners LP now owns 345,870 shares of the medical research company’s stock valued at $43,703,000 after buying an additional 293,453 shares during the last quarter. Morgan Stanley grew its holdings in shares of Laboratory Corp. of America by 30.9% during the third quarter. Morgan Stanley now owns 1,006,695 shares of the medical research company’s stock valued at $174,843,000 after buying an additional 237,918 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Laboratory Corp. of America by 666.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 253,000 shares of the medical research company’s stock valued at $31,969,000 after buying an additional 220,000 shares during the last quarter. Institutional investors and hedge funds own 88.80% of the company’s stock.

Shares of Laboratory Corp. of America stock opened at $152.82 on Friday. The company has a market cap of $15.15 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.72 and a beta of 1.15. Laboratory Corp. of America Holdings has a twelve month low of $119.38 and a twelve month high of $190.35. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.38 and a current ratio of 1.51.

Laboratory Corp. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, February 7th. The medical research company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.04. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Laboratory Corp. of America had a net margin of 8.43% and a return on equity of 17.05%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.45 earnings per share. On average, research analysts anticipate that Laboratory Corp. of America Holdings will post 11.22 earnings per share for the current fiscal year.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 1,038 shares of the stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $147.00, for a total value of $152,586.00. Following the transaction, the director now directly owns 8,924 shares in the company, valued at $1,311,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by company insiders.

A number of research firms have recently commented on LH. ValuEngine upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Monday. Credit Suisse Group increased their price target on shares of Laboratory Corp. of America from $160.00 to $164.00 and gave the company an “outperform” rating in a report on Wednesday, February 27th. Morgan Stanley set a $175.00 price target on shares of Laboratory Corp. of America and gave the company a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Monday, February 11th. Finally, UBS Group set a $178.00 price target on shares of Laboratory Corp. of America and gave the company a “buy” rating in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $176.07.

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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.

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

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