Advisors Capital Management LLC Has $238,000 Stake in Laboratory Corp. of America Holdings (NYSE:LH)

Advisors Capital Management LLC decreased its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 93.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,434 shares of the medical research company’s stock after selling 19,544 shares during the quarter. Advisors Capital Management LLC’s holdings in Laboratory Corp. of America were worth $238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Regentatlantic Capital LLC lifted its stake in Laboratory Corp. of America by 2.9% in the first quarter. Regentatlantic Capital LLC now owns 2,323 shares of the medical research company’s stock valued at $294,000 after buying an additional 65 shares during the period. Altman Advisors Inc. lifted its stake in Laboratory Corp. of America by 1.0% in the second quarter. Altman Advisors Inc. now owns 6,446 shares of the medical research company’s stock valued at $1,071,000 after buying an additional 65 shares during the period. Concentric Wealth Management LLC lifted its stake in Laboratory Corp. of America by 0.4% in the second quarter. Concentric Wealth Management LLC now owns 19,570 shares of the medical research company’s stock valued at $3,251,000 after buying an additional 85 shares during the period. Smith Graham & Co. Investment Advisors LP lifted its stake in Laboratory Corp. of America by 0.3% in the second quarter. Smith Graham & Co. Investment Advisors LP now owns 26,629 shares of the medical research company’s stock valued at $4,423,000 after buying an additional 87 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Laboratory Corp. of America by 0.3% in the first quarter. Mackenzie Financial Corp now owns 27,686 shares of the medical research company’s stock valued at $3,499,000 after buying an additional 88 shares during the period. 88.65% of the stock is currently owned by hedge funds and other institutional investors.

LH stock traded up $1.22 during mid-day trading on Wednesday, reaching $187.14. The company had a trading volume of 9,882 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 stock has a 50 day simple moving average of $184.62 and a two-hundred day simple moving average of $167.65. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 50.66, a PEG ratio of 1.52 and a beta of 1.32. Laboratory Corp. of America Holdings has a 52 week low of $98.02 and a 52 week high of $206.74.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Tuesday, July 28th. The medical research company reported $2.57 earnings per share for the quarter, beating the Zacks’ 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 return on equity of 14.39% and a net margin of 3.16%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $2.93 earnings per share. On average, equities analysts predict that Laboratory Corp. of America Holdings will post 13.88 EPS for the current year.

In other news, EVP Der Vaart Sandra D. Van sold 435 shares of Laboratory Corp. of America stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total transaction of $73,950.00. Following the completion of the transaction, the executive vice president now directly owns 4,044 shares in the company, valued at approximately $687,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 1,300 shares of Laboratory Corp. of America stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total value of $225,056.00. Following the transaction, the director now owns 6,395 shares of the company’s stock, valued at $1,107,102.40. The disclosure for this sale can be found here. Over the last 90 days, 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 equities research analysts have recently commented on LH shares. Wells Fargo & Company reaffirmed a “buy” rating on shares of Laboratory Corp. of America in a research report on Wednesday, June 10th. Deutsche Bank raised their price target on Laboratory Corp. of America from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Mizuho raised their price target on Laboratory Corp. of America from $186.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wolfe Research raised Laboratory Corp. of America from a “peer perform” rating to an “outperform” rating and raised their price target for the stock from $202.00 to $217.00 in a research report on Monday, July 13th. Finally, Robert W. Baird raised their price target on Laboratory Corp. of America from $199.00 to $219.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. Laboratory Corp. of America presently has a consensus rating of “Buy” and a consensus target price of $214.44.

Laboratory Corp. of America Company 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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