ING Groep NV raised its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 64.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,048 shares of the medical research company’s stock after acquiring an additional 7,095 shares during the period. ING Groep NV’s holdings in Laboratory Corp. of America were worth $3,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SPC Financial Inc. acquired a new position in shares of Laboratory Corp. of America in the 2nd quarter valued at $455,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Laboratory Corp. of America by 0.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 389,086 shares of the medical research company’s stock valued at $69,853,000 after purchasing an additional 3,039 shares during the period. Homrich & Berg acquired a new position in shares of Laboratory Corp. of America in the 2nd quarter valued at $245,000. Private Advisor Group LLC acquired a new position in shares of Laboratory Corp. of America in the 2nd quarter valued at $656,000. Finally, Redmile Group LLC acquired a new position in shares of Laboratory Corp. of America in the 2nd quarter valued at $51,776,000. Institutional investors and hedge funds own 92.66% of the company’s stock.

In other news, Director Kerrii B. Anderson sold 3,700 shares of the company’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $163.29, for a total transaction of $604,173.00. Following the completion of the sale, the director now owns 21,795 shares of the company’s stock, valued at $3,558,905.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.73% of the company’s stock.

Several equities analysts recently issued reports on LH shares. SunTrust Banks reiterated a “buy” rating and issued a $220.00 target price on shares of Laboratory Corp. of America in a research note on Friday, July 20th. Canaccord Genuity reiterated a “buy” rating and issued a $200.00 target price on shares of Laboratory Corp. of America in a research note on Tuesday, July 24th. Jefferies Financial Group reiterated a “neutral” rating and issued a $180.00 target price on shares of Laboratory Corp. of America in a research note on Thursday, July 26th. Mizuho restated a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, July 26th. Finally, Deutsche Bank reduced their price objective on shares of Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating for the company in a research report on Monday, August 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $192.19.

NYSE:LH opened at $163.87 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.57 and a beta of 1.00. Laboratory Corp. of America Holdings has a fifty-two week low of $147.70 and a fifty-two week high of $190.35.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a return on equity of 17.13% and a net margin of 13.27%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.46 earnings per share. As a group, equities research analysts predict that Laboratory Corp. of America Holdings will post 11.33 EPS for the current year.

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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 is Considered a Good Return on Equity (ROE)?

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

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