Signature Estate & Investment Advisors LLC Invests $516,000 in Laboratory Corporation of America Holdings (LH) Stock

Signature Estate & Investment Advisors LLC acquired a new position in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,419 shares of the medical research company’s stock, valued at approximately $516,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its holdings in shares of Laboratory Corporation of America Holdings by 5,992.1% in the 2nd quarter. Janus Henderson Group PLC now owns 889,631 shares of the medical research company’s stock valued at $137,128,000 after acquiring an additional 875,028 shares during the period. Schroder Investment Management Group increased its holdings in shares of Laboratory Corporation of America Holdings by 1,337.1% in the 2nd quarter. Schroder Investment Management Group now owns 860,802 shares of the medical research company’s stock valued at $130,885,000 after acquiring an additional 800,902 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Laboratory Corporation of America Holdings by 70.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,543,126 shares of the medical research company’s stock valued at $237,857,000 after acquiring an additional 637,848 shares during the period. Empyrean Capital Partners LP purchased a new position in shares of Laboratory Corporation of America Holdings in the 2nd quarter valued at $92,484,000. Finally, Bessemer Group Inc. increased its holdings in shares of Laboratory Corporation of America Holdings by 43.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,288,017 shares of the medical research company’s stock valued at $198,535,000 after acquiring an additional 391,145 shares during the period. Institutional investors own 93.54% of the company’s stock.

Shares of Laboratory Corporation of America Holdings (NYSE:LH) traded down $0.59 on Tuesday, reaching $149.87. The company’s stock had a trading volume of 461,700 shares, compared to its average volume of 722,958. Laboratory Corporation of America Holdings has a 12 month low of $123.36 and a 12 month high of $164.22. The company has a current ratio of 1.89, a quick ratio of 1.75 and a debt-to-equity ratio of 1.18. The firm has a market cap of $15,330.00, a PE ratio of 16.18, a P/E/G ratio of 1.60 and a beta of 0.87.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $2.46 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.08. Laboratory Corporation of America Holdings had a return on equity of 16.75% and a net margin of 7.40%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the previous year, the firm posted $2.25 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. equities research analysts predict that Laboratory Corporation of America Holdings will post 9.52 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on LH shares. Barclays PLC lifted their price target on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Zacks Investment Research cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Wells Fargo & Company started coverage on Laboratory Corporation of America Holdings in a research report on Thursday, October 12th. They issued an “outperform” rating and a $175.00 price objective for the company. Jefferies Group LLC reissued a “hold” rating and issued a $170.00 price objective (up previously from $157.00) on shares of Laboratory Corporation of America Holdings in a research report on Wednesday, September 13th. Finally, Craig Hallum reissued a “buy” rating and issued a $180.00 price objective (up previously from $175.00) on shares of Laboratory Corporation of America Holdings in a research report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Laboratory Corporation of America Holdings has an average rating of “Buy” and a consensus price target of $169.00.

In other Laboratory Corporation of America Holdings news, insider F Samuel Eberts III sold 31,500 shares of Laboratory Corporation of America Holdings stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $155.22, for a total transaction of $4,889,430.00. Following the completion of the sale, the insider now owns 31,894 shares of the company’s stock, valued at approximately $4,950,586.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David P. King sold 44,687 shares of Laboratory Corporation of America Holdings stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $156.86, for a total value of $7,009,602.82. Following the sale, the chief executive officer now directly owns 258,753 shares of the company’s stock, valued at approximately $40,587,995.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 209,871 shares of company stock valued at $32,892,005. 0.90% of the stock is currently owned by insiders.

About Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings is a life sciences company that is integrated in guiding patient care, providing clinical laboratory and end-to-end drug development services. The Company operates as a healthcare diagnostics company. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

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Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

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