BB&T Corp reduced its stake in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,341 shares of the medical research company’s stock after selling 140 shares during the quarter. BB&T Corp’s holdings in Laboratory Corp. of America were worth $393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Laboratory Corp. of America by 2.5% during the second quarter. JPMorgan Chase & Co. now owns 1,615,327 shares of the medical research company’s stock valued at $276,172,000 after purchasing an additional 38,691 shares during the period. Invesco Ltd. lifted its stake in Laboratory Corp. of America by 93.4% in the second quarter. Invesco Ltd. now owns 1,184,747 shares of the medical research company’s stock worth $204,844,000 after acquiring an additional 572,088 shares during the period. Iridian Asset Management LLC CT lifted its stake in Laboratory Corp. of America by 9.9% in the second quarter. Iridian Asset Management LLC CT now owns 1,030,089 shares of the medical research company’s stock worth $178,102,000 after acquiring an additional 92,997 shares during the period. Nuveen Asset Management LLC lifted its stake in Laboratory Corp. of America by 10,436.0% in the second quarter. Nuveen Asset Management LLC now owns 1,022,410 shares of the medical research company’s stock worth $176,775,000 after acquiring an additional 1,012,706 shares during the period. Finally, Allen Investment Management LLC lifted its stake in Laboratory Corp. of America by 5.5% in the second quarter. Allen Investment Management LLC now owns 1,008,774 shares of the medical research company’s stock worth $174,417,000 after acquiring an additional 52,887 shares during the period. 90.22% of the stock is owned by hedge funds and other institutional investors.

In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.85, for a total value of $446,810.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David P. King sold 30,177 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $165.40, for a total transaction of $4,991,275.80. The disclosure for this sale can be found here. Insiders sold 41,145 shares of company stock valued at $6,855,988 over the last quarter. 0.74% of the stock is currently owned by corporate insiders.

Shares of Laboratory Corp. of America stock opened at $168.41 on Friday. The company has a market capitalization of $16.04 billion, a PE ratio of 15.28, a P/E/G ratio of 1.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.08 and a current ratio of 1.17. The company has a 50-day simple moving average of $167.04 and a two-hundred day simple moving average of $167.26. Laboratory Corp. of America Holdings has a one year low of $119.38 and a one year high of $178.44.

Laboratory Corp. of America (NYSE:LH) last announced its earnings results on Thursday, October 24th. The medical research company reported $2.90 EPS for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.05. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.91 billion. Laboratory Corp. of America had a net margin of 6.63% and a return on equity of 15.33%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.74 earnings per share. On average, equities analysts predict that Laboratory Corp. of America Holdings will post 11.26 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Canaccord Genuity reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Laboratory Corp. of America in a research note on Thursday, October 24th. UBS Group lowered their price objective on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays set a $200.00 price objective on shares of Laboratory Corp. of America and gave the stock a “buy” rating in a research note on Monday, July 15th. Morgan Stanley upped their price objective on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating and set a $172.00 price objective for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $184.90.

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.

Further Reading: Investing in Dividend Stocks

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.