California State Teachers Retirement System Purchases 4,345 Shares of Laboratory Corp. of America Holdings (NYSE:LH)

California State Teachers Retirement System increased its position in Laboratory Corp. of America Holdings (NYSE:LH) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,926 shares of the medical research company’s stock after purchasing an additional 4,345 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of Laboratory Corp. of America worth $28,725,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC lifted its holdings in Laboratory Corp. of America by 316.0% during the first quarter. Harbor Investment Advisory LLC now owns 208 shares of the medical research company’s stock worth $26,000 after buying an additional 158 shares during the period. Watson Rebecca purchased a new stake in Laboratory Corp. of America during the second quarter worth $32,000. Hoover Financial Advisors Inc. purchased a new stake in Laboratory Corp. of America during the second quarter worth $33,000. Jaffetilchin Investment Partners LLC purchased a new stake in Laboratory Corp. of America during the second quarter worth $42,000. Finally, Focused Wealth Management Inc purchased a new stake in Laboratory Corp. of America during the second quarter worth $66,000. 88.65% of the stock is currently owned by institutional investors.

In related news, EVP Der Vaart Sandra D. Van sold 872 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $160.33, for a total transaction of $139,807.76. Following the completion of the transaction, the executive vice president now owns 4,915 shares in the company, valued at $788,021.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director R Sanders Williams sold 1,300 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total transaction of $225,056.00. Following the transaction, the director now owns 6,395 shares of the company’s stock, valued at approximately $1,107,102.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,607 shares of company stock valued at $438,814. Insiders own 0.70% of the company’s stock.

LH has been the subject of a number of analyst reports. Wolfe Research upgraded Laboratory Corp. of America from a “peer perform” rating to an “outperform” rating and upped their target price for the stock from $202.00 to $217.00 in a report on Monday, July 13th. BofA Securities upgraded Laboratory Corp. of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $194.00 to $220.00 in a report on Tuesday, July 14th. Wells Fargo & Company reiterated a “buy” rating on shares of Laboratory Corp. of America in a report on Wednesday, June 10th. Mizuho increased their price objective on Laboratory Corp. of America from $186.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, SunTrust Banks increased their price objective on Laboratory Corp. of America from $220.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. Laboratory Corp. of America currently has a consensus rating of “Buy” and a consensus target price of $214.44.

Laboratory Corp. of America stock traded up $0.90 during midday trading on Wednesday, reaching $186.82. The company had a trading volume of 7,684 shares, compared to its average volume of 960,115. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.12 and a quick ratio of 1.01. The firm’s fifty day simple moving average is $184.62 and its 200-day simple moving average is $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 market capitalization of $18.11 billion, a P/E 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $1.79. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.44 billion. Laboratory Corp. of America had a net margin of 3.16% and a return on equity of 14.39%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.93 EPS. On average, analysts expect that Laboratory Corp. of America Holdings will post 13.88 EPS for the current fiscal year.

About Laboratory Corp. of America

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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