1,670 Shares in Laboratory Corp. of America Holdings (NYSE:LH) Acquired by B. Riley Wealth Management Inc.

B. Riley Wealth Management Inc. bought a new position in Laboratory Corp. of America Holdings (NYSE:LH) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,670 shares of the medical research company’s stock, valued at approximately $278,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Dupont Capital Management Corp increased its holdings in Laboratory Corp. of America by 59.0% in the 2nd quarter. Dupont Capital Management Corp now owns 3,338 shares of the medical research company’s stock worth $554,000 after acquiring an additional 1,239 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Laboratory Corp. of America by 15.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 105,458 shares of the medical research company’s stock worth $13,328,000 after acquiring an additional 14,309 shares in the last quarter. Eminence Capital LP purchased a new stake in Laboratory Corp. of America in the 2nd quarter worth approximately $22,389,000. Ironwood Investment Counsel LLC purchased a new stake in Laboratory Corp. of America in the 2nd quarter worth approximately $2,763,000. Finally, HighTower Advisors LLC grew its holdings in Laboratory Corp. of America by 5.2% during the 1st quarter. HighTower Advisors LLC now owns 8,180 shares of the medical research company’s stock valued at $1,036,000 after buying an additional 407 shares in the last quarter. 88.65% of the stock is owned by institutional investors.

LH traded up $1.23 on Wednesday, hitting $187.15. The company had a trading volume of 9,514 shares, compared to its average volume of 960,115. The stock has a fifty day moving average price of $184.62 and a 200-day moving average price of $167.65. Laboratory Corp. of America Holdings has a 12-month low of $98.02 and a 12-month high of $206.74. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.01 and a current ratio of 1.12. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of 50.66, a P/E/G ratio of 1.52 and a beta of 1.32.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Tuesday, July 28th. The medical research company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $1.79. Laboratory Corp. of America had a return on equity of 14.39% and a net margin of 3.16%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm earned $2.93 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts forecast that Laboratory Corp. of America Holdings will post 13.88 EPS for the current fiscal year.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total value of $225,056.00. Following the completion of the sale, the director now owns 6,395 shares of the company’s stock, valued at $1,107,102.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 435 shares of Laboratory Corp. of America stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total value of $73,950.00. Following the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at approximately $687,480. The disclosure for this sale can be found here. In the last three months, insiders sold 2,607 shares of company stock valued at $438,814. Corporate insiders own 0.70% of the company’s stock.

A number of brokerages have issued reports on LH. Bank of America increased their price objective on shares of Laboratory Corp. of America from $220.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Robert W. Baird increased their target price on Laboratory Corp. of America from $199.00 to $219.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. BofA Securities upgraded Laboratory Corp. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $194.00 to $220.00 in a research report on Tuesday, July 14th. TheStreet upgraded Laboratory Corp. of America from a “c” rating to a “b” rating in a research report on Tuesday, July 28th. Finally, Citigroup increased their target price on Laboratory Corp. of America from $214.00 to $249.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $214.44.

Laboratory Corp. of America 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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