Murphy Capital Management Inc. cut its position in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 15.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,675 shares of the medical research company’s stock after selling 300 shares during the period. Murphy Capital Management Inc.’s holdings in Laboratory Corp. of America were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LH. Captrust Financial Advisors boosted its stake in Laboratory Corp. of America by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,785 shares of the medical research company’s stock valued at $320,000 after buying an additional 297 shares in the last quarter. Sheets Smith Wealth Management boosted its stake in Laboratory Corp. of America by 1.2% in the 2nd quarter. Sheets Smith Wealth Management now owns 24,955 shares of the medical research company’s stock valued at $4,480,000 after buying an additional 300 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Laboratory Corp. of America by 1.0% in the 2nd quarter. State Treasurer State of Michigan now owns 30,297 shares of the medical research company’s stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Alps Advisors Inc. boosted its stake in Laboratory Corp. of America by 11.1% in the 2nd quarter. Alps Advisors Inc. now owns 3,057 shares of the medical research company’s stock valued at $549,000 after buying an additional 305 shares in the last quarter. Finally, Jacobs & Co. CA boosted its stake in Laboratory Corp. of America by 1.4% in the 2nd quarter. Jacobs & Co. CA now owns 23,564 shares of the medical research company’s stock valued at $4,230,000 after buying an additional 323 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Laboratory Corp. of America stock opened at $169.86 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.32 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. Laboratory Corp. of America Holdings has a 52 week low of $147.27 and a 52 week high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, July 25th. The medical research company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.06. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.85 billion. Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Research analysts anticipate that Laboratory Corp. of America Holdings will post 11.52 earnings per share for the current year.

LH has been the topic of several recent analyst reports. Deutsche Bank decreased their price target on 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. Mizuho reaffirmed a “neutral” rating on shares of Laboratory Corp. of America in a research note on Wednesday, September 19th. Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Credit Suisse Group reduced their price objective on Laboratory Corp. of America from $197.00 to $195.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 4th. Finally, Argus reissued a “buy” rating on shares of Laboratory Corp. of America in a research note on Wednesday, August 22nd. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $197.44.

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.

Further Reading: What are the reasons investors use put options?

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Corp. of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Corp. of America (NYSE:LH)

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.