American International Group Inc. Has $7.99 Million Holdings in Laboratory Corp. of America Holdings (LH)

American International Group Inc. grew its holdings in Laboratory Corp. of America Holdings (NYSE:LH) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,978 shares of the medical research company’s stock after purchasing an additional 2,044 shares during the period. American International Group Inc.’s holdings in Laboratory Corp. of America were worth $7,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Laboratory Corp. of America by 4.9% in the 3rd quarter. BlackRock Inc. now owns 9,139,008 shares of the medical research company’s stock valued at $1,587,262,000 after purchasing an additional 427,716 shares during the last quarter. River Wealth Advisors LLC lifted its stake in Laboratory Corp. of America by 17.8% during the 3rd quarter. River Wealth Advisors LLC now owns 3,321 shares of the medical research company’s stock worth $577,000 after acquiring an additional 501 shares in the last quarter. Twin Tree Management LP lifted its stake in Laboratory Corp. of America by 62.6% during the 3rd quarter. Twin Tree Management LP now owns 2,064 shares of the medical research company’s stock worth $358,000 after acquiring an additional 795 shares in the last quarter. CI Investments Inc. lifted its stake in Laboratory Corp. of America by 4.8% during the 3rd quarter. CI Investments Inc. now owns 749,000 shares of the medical research company’s stock worth $130,086,000 after acquiring an additional 34,550 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its stake in Laboratory Corp. of America by 142.6% during the 3rd quarter. Atlas Capital Advisors LLC now owns 3,231 shares of the medical research company’s stock worth $555,000 after acquiring an additional 1,899 shares in the last quarter. 92.10% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the 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 in the company, valued at approximately $3,558,905.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Sanders Williams sold 350 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total value of $56,749.00. Following the completion of the transaction, the director now owns 7,886 shares in the company, valued at approximately $1,278,636.04. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Several equities analysts recently issued reports on the company. ValuEngine lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America assumed coverage on Laboratory Corp. of America in a research note on Friday, October 19th. They set a “buy” rating on the stock. Goldman Sachs Group lowered Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and decreased their target price for the stock from $190.00 to $180.00 in a research note on Friday. Canaccord Genuity reissued a “hold” rating and set a $155.00 target price on shares of Laboratory Corp. of America in a research note on Sunday. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $190.81.

LH stock opened at $145.64 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.44 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $14.70 billion, a price-to-earnings ratio of 15.17, a P/E/G ratio of 1.36 and a beta of 1.00. Laboratory Corp. of America Holdings has a 1 year low of $142.40 and a 1 year high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.14). The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. Laboratory Corp. of America’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. Equities analysts forecast that Laboratory Corp. of America Holdings will post 11.3 EPS for the current fiscal year.

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About Laboratory Corp. of America

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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