LSV Asset Management Increases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

LSV Asset Management increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 334,358 shares of the medical research company’s stock after purchasing an additional 5,022 shares during the quarter. LSV Asset Management owned about 0.34% of Laboratory Co. of America worth $62,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in Laboratory Co. of America by 103.0% during the 2nd quarter. Nordea Investment Management AB now owns 3,312,770 shares of the medical research company’s stock valued at $533,952,000 after purchasing an additional 1,680,506 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Laboratory Co. of America during the 2nd quarter worth $95,221,000. Hunter Perkins Capital Management LLC bought a new stake in shares of Laboratory Co. of America during the 2nd quarter worth $39,482,000. Bessemer Group Inc. lifted its position in shares of Laboratory Co. of America by 27.0% during the 2nd quarter. Bessemer Group Inc. now owns 807,666 shares of the medical research company’s stock worth $134,161,000 after buying an additional 171,938 shares during the last quarter. Finally, Veritas Investment Management LLP lifted its position in shares of Laboratory Co. of America by 29.9% during the 2nd quarter. Veritas Investment Management LLP now owns 703,265 shares of the medical research company’s stock worth $116,858,000 after buying an additional 161,720 shares during the last quarter. Institutional investors own 88.65% of the company’s stock.

LH has been the subject of several recent analyst reports. BofA Securities upgraded Laboratory Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $194.00 to $220.00 in a research report on Tuesday, July 14th. Bank of America increased their target price on Laboratory Co. of America from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Mizuho increased their target price on Laboratory Co. of America from $186.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wolfe Research upgraded Laboratory Co. of America from a “peer perform” rating to an “outperform” rating and increased their target price for the company from $202.00 to $217.00 in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Laboratory Co. of America from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $217.78.

Shares of NYSE LH traded down $6.90 during midday trading on Monday, hitting $200.59. 12,479 shares of the stock traded hands, compared to its average volume of 906,563. The firm has a 50-day moving average of $187.23 and a two-hundred day moving average of $176.16. The firm has a market capitalization of $20.21 billion, a P/E ratio of 56.54, a PEG ratio of 1.57 and a beta of 1.25. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.01 and a current ratio of 1.12. Laboratory Co. of America Holdings has a one year low of $98.02 and a one year high of $211.21.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Tuesday, July 28th. The medical research company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $0.78 by $1.79. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Laboratory Co. of America had a return on equity of 14.39% and a net margin of 3.16%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.93 EPS. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.78 earnings per share for the current fiscal year.

About Laboratory Co. of America

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 Co. of America (NYSE:LH)

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