Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Position in Laboratory Corporation of America Holdings (NYSE:LH)

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Laboratory Corporation of America Holdings (NYSE:LH) by 15.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,921 shares of the medical research company’s stock after purchasing an additional 3,354 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Laboratory Corporation of America Holdings were worth $3,841,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Regentatlantic Capital LLC increased its stake in Laboratory Corporation of America Holdings by 0.5% during the second quarter. Regentatlantic Capital LLC now owns 1,696 shares of the medical research company’s stock worth $261,000 after acquiring an additional 8 shares during the last quarter. Endurance Wealth Management Inc. increased its stake in Laboratory Corporation of America Holdings by 0.7% during the first quarter. Endurance Wealth Management Inc. now owns 1,510 shares of the medical research company’s stock worth $217,000 after acquiring an additional 10 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Laboratory Corporation of America Holdings by 0.6% during the first quarter. Oppenheimer & Co. Inc. now owns 2,411 shares of the medical research company’s stock worth $346,000 after acquiring an additional 15 shares during the last quarter. New Amsterdam Partners LLC NY increased its stake in Laboratory Corporation of America Holdings by 0.7% during the second quarter. New Amsterdam Partners LLC NY now owns 3,847 shares of the medical research company’s stock worth $593,000 after acquiring an additional 27 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Laboratory Corporation of America Holdings by 0.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,143 shares of the medical research company’s stock worth $594,000 after acquiring an additional 31 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Laboratory Corporation of America Holdings (LH) traded down 0.39% during mid-day trading on Tuesday, hitting $157.00. The stock had a trading volume of 546,588 shares. Laboratory Corporation of America Holdings has a one year low of $119.51 and a one year high of $164.22. The stock has a market cap of $15.98 billion, a P/E ratio of 21.99 and a beta of 0.94. The company has a 50 day moving average price of $156.66 and a 200 day moving average price of $146.86.

Laboratory Corporation of America Holdings (NYSE:LH) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.47 EPS for the quarter, topping the consensus estimate of $2.40 by $0.07. Laboratory Corporation of America Holdings had a net margin of 7.57% and a return on equity of 16.85%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company posted $2.36 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Laboratory Corporation of America Holdings will post $9.51 EPS for the current year.

Several research firms have issued reports on LH. Barclays PLC raised their target price on Laboratory Corporation of America Holdings from $182.00 to $183.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Laboratory Corporation of America Holdings from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. ValuEngine lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 3rd. Finally, Credit Suisse Group lowered Laboratory Corporation of America Holdings to a “hold” rating and set a $146.00 price target for the company. in a research report on Thursday, July 13th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $159.75.

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In other Laboratory Corporation of America Holdings news, CFO Glenn A. Eisenberg sold 5,968 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $159.46, for a total value of $951,657.28. Following the transaction, the chief financial officer now owns 18,122 shares of the company’s stock, valued at $2,889,734.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lisa J. Uthgenannt sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $160.00, for a total transaction of $800,000.00. The disclosure for this sale can be found here. Insiders have sold 45,568 shares of company stock worth $7,127,415 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Laboratory Corporation of America Holdings Company Profile

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).

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

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