Laboratory Corp. of America Holdings (NYSE:LH) Stake Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 28.6% in the second quarter, Holdings Channel reports. The institutional investor owned 4,671 shares of the medical research company’s stock after acquiring an additional 1,040 shares during the quarter. DAVENPORT & Co LLC’s holdings in Laboratory Corp. of America were worth $776,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LH. Key Financial Inc bought a new stake in shares of Laboratory Corp. of America in the first quarter worth $26,000. Harbor Investment Advisory LLC increased its stake in Laboratory Corp. of America by 316.0% during the first quarter. Harbor Investment Advisory LLC now owns 208 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 158 shares during the last quarter. Ellevest Inc. increased its stake in Laboratory Corp. of America by 49.3% during the first quarter. Ellevest Inc. now owns 218 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 72 shares during the last quarter. Lindbrook Capital LLC increased its stake in Laboratory Corp. of America by 95.8% during the first quarter. Lindbrook Capital LLC now owns 231 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 113 shares during the last quarter. Finally, Watson Rebecca bought a new stake in Laboratory Corp. of America during the second quarter valued at $32,000. Institutional investors and hedge funds own 88.80% of the company’s stock.

In other Laboratory Corp. of America news, EVP Der Vaart Sandra D. Van sold 435 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $170.00, for a total value of $73,950.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at approximately $687,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 872 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $160.33, for a total transaction of $139,807.76. Following the completion of the sale, the executive vice president now directly owns 4,915 shares of the company’s stock, valued at $788,021.95. The disclosure for this sale can be found here. Insiders sold a total of 2,607 shares of company stock valued at $438,814 over the last three months. 0.70% of the stock is owned by corporate insiders.

LH stock opened at $192.92 on Friday. The company has a market capitalization of $18.75 billion, a P/E ratio of 18.03, a PEG ratio of 1.70 and a beta of 1.38. The company has a 50-day simple moving average of $177.01 and a 200 day simple moving average of $167.49. Laboratory Corp. of America Holdings has a fifty-two week low of $98.02 and a fifty-two week high of $206.74. The company has a quick ratio of 1.07, a current ratio of 1.12 and a debt-to-equity ratio of 0.83.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Tuesday, July 28th. The medical research company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $0.78 by $1.79. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.44 billion. Laboratory Corp. of America had a net margin of 3.16% and a return on equity of 14.39%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 earnings per share. Equities analysts anticipate that Laboratory Corp. of America Holdings will post 13.19 EPS for the current year.

LH has been the subject of several recent research reports. Zacks Investment Research lowered shares of Laboratory Corp. of America from a “strong-buy” rating to a “hold” rating and set a $206.00 target price for the company. in a research note on Friday. TheStreet upgraded shares of Laboratory Corp. of America from a “c” rating to a “b” rating in a research note on Tuesday, July 28th. Bank of America upped their price target on shares of Laboratory Corp. of America from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Co restated a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, June 10th. Finally, KeyCorp lowered shares of Laboratory Corp. of America from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 29th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Laboratory Corp. of America currently has an average rating of “Buy” and a consensus target price of $214.44.

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.

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

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