State Board of Administration of Florida Retirement System Decreases Holdings in Laboratory Corp. of America Holdings (LH)

State Board of Administration of Florida Retirement System decreased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,122 shares of the medical research company’s stock after selling 3,165 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.15% of Laboratory Corp. of America worth $26,247,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Captrust Financial Advisors grew its stake in shares of Laboratory Corp. of America by 20.0% in the second quarter. Captrust Financial Advisors now owns 1,785 shares of the medical research company’s stock worth $320,000 after acquiring an additional 297 shares during the last quarter. Sheets Smith Wealth Management boosted its position in shares of Laboratory Corp. of America by 1.2% during the second quarter. Sheets Smith Wealth Management now owns 24,955 shares of the medical research company’s stock valued at $4,480,000 after buying an additional 300 shares during the last quarter. State Treasurer State of Michigan boosted its position in shares of Laboratory Corp. of America by 1.0% during the second quarter. State Treasurer State of Michigan now owns 30,297 shares of the medical research company’s stock valued at $5,439,000 after buying an additional 300 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Laboratory Corp. of America by 11.1% during the second quarter. Alps Advisors Inc. now owns 3,057 shares of the medical research company’s stock valued at $549,000 after buying an additional 305 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Laboratory Corp. of America by 1.3% during the third quarter. Strs Ohio now owns 24,261 shares of the medical research company’s stock valued at $4,213,000 after buying an additional 311 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Shares of NYSE:LH opened at $170.99 on Thursday. The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.56 and a beta of 1.00. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.44 and a current ratio of 1.55. Laboratory Corp. of America Holdings has a 52-week low of $147.70 and a 52-week high of $190.35.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Laboratory Corp. of America Holdings will post 11.33 EPS for the current year.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the transaction, the director now owns 21,795 shares of the company’s stock, valued at $3,558,905.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.73% of the stock is owned by company insiders.

Several equities research analysts recently commented on the company. Bank of America assumed coverage on Laboratory Corp. of America in a research report on Friday, October 19th. They set a “buy” rating on the stock. SunTrust Banks reaffirmed a “buy” rating and set a $220.00 price objective on shares of Laboratory Corp. of America in a research report on Friday, July 20th. Mizuho reaffirmed a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, July 26th. Citigroup dropped their price objective on Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, William Blair reissued an “outperform” rating on shares of Laboratory Corp. of America in a research report on Wednesday, October 24th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $192.19.

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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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