United Services Automobile Association Raises Stake in Laboratory Corp. of America Holdings (LH)

United Services Automobile Association lifted its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 32.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,545 shares of the medical research company’s stock after purchasing an additional 19,155 shares during the quarter. United Services Automobile Association owned about 0.08% of Laboratory Corp. of America worth $13,642,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LH. Legacy Financial Advisors Inc. increased its stake in shares of Laboratory Corp. of America by 763.9% during the third quarter. Legacy Financial Advisors Inc. now owns 622 shares of the medical research company’s stock worth $108,000 after buying an additional 550 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Laboratory Corp. of America by 7,033.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock worth $115,000 after buying an additional 633 shares during the period. Fort L.P. purchased a new stake in shares of Laboratory Corp. of America during the second quarter worth approximately $118,000. Rational Advisors LLC increased its stake in shares of Laboratory Corp. of America by 4,966.7% during the third quarter. Rational Advisors LLC now owns 760 shares of the medical research company’s stock worth $132,000 after buying an additional 745 shares during the period. Finally, NuWave Investment Management LLC increased its stake in shares of Laboratory Corp. of America by 5,786.7% during the third quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock worth $154,000 after buying an additional 868 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on LH. Deutsche Bank cut their target price on shares of Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating on the stock in a research note on Monday, August 20th. Argus restated a “buy” rating on shares of Laboratory Corp. of America in a research note on Wednesday, August 22nd. Craig Hallum cut their target price on shares of Laboratory Corp. of America from $201.00 to $193.00 and set a “buy” rating on the stock in a research note on Wednesday, October 3rd. Bank of America initiated coverage on shares of Laboratory Corp. of America in a research note on Friday, October 19th. They set a “buy” rating on the stock. Finally, Mizuho reiterated a “neutral” rating on shares of Laboratory Corp. of America in a research note on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $179.69.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $163.29, for a total value of $604,173.00. Following the completion of the sale, the director now directly 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 is available through this hyperlink. Also, Director R Sanders Williams sold 350 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 7,886 shares of the company’s stock, valued at $1,278,636.04. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Shares of Laboratory Corp. of America stock opened at $141.96 on Friday. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.47 and a beta of 0.99. Laboratory Corp. of America Holdings has a 52 week low of $139.18 and a 52 week high of $190.35. 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 (NYSE:LH) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. Analysts anticipate that Laboratory Corp. of America Holdings will post 10.99 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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