Daiwa Securities Group Inc. Grows Holdings in Laboratory Corp. of America Holdings (LH)

Daiwa Securities Group Inc. grew its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 53.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,177 shares of the medical research company’s stock after purchasing an additional 2,144 shares during the period. Daiwa Securities Group Inc.’s holdings in Laboratory Corp. of America were worth $945,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LH. JPMorgan Chase & Co. lifted its position in Laboratory Corp. of America by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 1,645,798 shares of the medical research company’s stock worth $285,845,000 after purchasing an additional 213,849 shares during the period. Kentucky Retirement Systems bought a new stake in Laboratory Corp. of America during the third quarter worth about $659,000. Teachers Advisors LLC lifted its position in Laboratory Corp. of America by 2.9% during the third quarter. Teachers Advisors LLC now owns 202,885 shares of the medical research company’s stock worth $35,237,000 after purchasing an additional 5,791 shares during the period. TIAA CREF Investment Management LLC lifted its position in Laboratory Corp. of America by 12.0% during the third quarter. TIAA CREF Investment Management LLC now owns 388,858 shares of the medical research company’s stock worth $67,537,000 after purchasing an additional 41,616 shares during the period. Finally, Standard Life Aberdeen plc lifted its position in Laboratory Corp. of America by 7.4% during the third quarter. Standard Life Aberdeen plc now owns 42,209 shares of the medical research company’s stock worth $7,331,000 after purchasing an additional 2,907 shares during the period. Institutional investors own 91.65% of the company’s stock.

In other news, Director R Sanders Williams sold 1,038 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total value of $152,586.00. Following the completion of the transaction, the director now owns 8,924 shares of the company’s stock, valued at $1,311,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.74% of the company’s stock.

Shares of NYSE LH opened at $164.95 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.14 and a quick ratio of 1.38. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. Laboratory Corp. of America Holdings has a 12 month low of $119.38 and a 12 month high of $190.35.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported $2.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.09. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Laboratory Corp. of America Holdings will post 11.27 earnings per share for the current year.

Several research analysts have commented on the company. Canaccord Genuity boosted their target price on Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday. UBS Group boosted their target price on Laboratory Corp. of America from $178.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup boosted their target price on Laboratory Corp. of America from $157.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday. Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $174.00 target price for the company in a research note on Wednesday. Finally, Wolfe Research assumed coverage on Laboratory Corp. of America in a research note on Tuesday, April 2nd. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. Laboratory Corp. of America presently has an average rating of “Hold” and an average price target of $178.27.

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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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