Pictet Asset Management Ltd. Has $8.17 Million Stock Position in Laboratory Corp. of America Holdings (NYSE:LH)

Pictet Asset Management Ltd. raised its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,404 shares of the medical research company’s stock after acquiring an additional 514 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of Laboratory Corp. of America worth $8,170,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Teacher Retirement System of Texas grew its holdings in Laboratory Corp. of America by 13.0% in the 1st quarter. Teacher Retirement System of Texas now owns 415,898 shares of the medical research company’s stock worth $63,624,000 after buying an additional 47,761 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in Laboratory Corp. of America by 21.3% in the 4th quarter. Commonwealth Bank of Australia now owns 10,902 shares of the medical research company’s stock worth $1,373,000 after buying an additional 1,911 shares in the last quarter. Norges Bank bought a new position in Laboratory Corp. of America in the 4th quarter worth approximately $120,695,000. BRYN MAWR TRUST Co grew its holdings in Laboratory Corp. of America by 8.1% in the 4th quarter. BRYN MAWR TRUST Co now owns 35,695 shares of the medical research company’s stock worth $4,510,000 after buying an additional 2,666 shares in the last quarter. Finally, ETF Managers Group LLC grew its holdings in Laboratory Corp. of America by 8.1% in the 1st quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock worth $135,000 after buying an additional 66 shares in the last quarter. 91.45% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Kerrii B. Anderson sold 3,100 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $170.00, for a total value of $527,000.00. Following the sale, the director now directly owns 22,233 shares of the company’s stock, valued at $3,779,610. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $162.20, for a total value of $81,100.00. Following the completion of the sale, the director now directly owns 7,386 shares in the company, valued at $1,198,009.20. The disclosure for this sale can be found here. Insiders have sold 21,300 shares of company stock worth $3,553,410 over the last three months. Company insiders own 0.74% of the company’s stock.

A number of brokerages have issued reports on LH. Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Thursday, May 16th. ValuEngine upgraded Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. TheStreet upgraded Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research report on Friday, May 3rd. UBS Group increased their price objective on Laboratory Corp. of America from $178.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Mizuho increased their price objective on Laboratory Corp. of America from $150.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $181.33.

Shares of LH traded up $1.93 during mid-day trading on Friday, reaching $172.90. The company’s stock had a trading volume of 924,100 shares, compared to its average volume of 811,566. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. The company has a market cap of $16.84 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $188.65. The company has a fifty day moving average price of $166.53.

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

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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