Metropolitan Life Insurance Co NY lessened its stake in Laboratory Corp. of America Holdings (NYSE:LH) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,105 shares of the medical research company’s stock after selling 115 shares during the quarter. Metropolitan Life Insurance Co NY’s holdings in Laboratory Corp. of America were worth $2,538,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in LH. Cambridge Investment Research Advisors Inc. boosted its position in shares of Laboratory Corp. of America by 4.7% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 8,191 shares of the medical research company’s stock worth $1,416,000 after acquiring an additional 364 shares in the last quarter. Veritas Investment Management LLP lifted its stake in Laboratory Corp. of America by 3.9% during the third quarter. Veritas Investment Management LLP now owns 513,862 shares of the medical research company’s stock worth $86,337,000 after purchasing an additional 19,220 shares during the last quarter. Bank of Montreal Can boosted its holdings in Laboratory Corp. of America by 0.8% in the second quarter. Bank of Montreal Can now owns 231,159 shares of the medical research company’s stock valued at $39,967,000 after purchasing an additional 1,914 shares in the last quarter. Ellington Management Group LLC acquired a new position in Laboratory Corp. of America in the second quarter valued at approximately $415,000. Finally, BMT Investment Advisors boosted its holdings in Laboratory Corp. of America by 4.5% in the third quarter. BMT Investment Advisors now owns 13,974 shares of the medical research company’s stock valued at $2,348,000 after purchasing an additional 600 shares in the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.

In other Laboratory Corp. of America news, insider Lisa J. Uthgenannt sold 2,466 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $168.59, for a total transaction of $415,742.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 2,600 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $171.85, for a total value of $446,810.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,243 shares of company stock worth $5,853,829. 0.74% of the stock is currently owned by company insiders.

Shares of LH opened at $172.60 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.08 and a debt-to-equity ratio of 0.93. The firm has a market cap of $16.73 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The company’s 50 day simple moving average is $168.53 and its 200-day simple moving average is $168.57. Laboratory Corp. of America Holdings has a 12-month low of $119.38 and a 12-month high of $178.44.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.85 by $0.05. The firm 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%. Laboratory Corp. of America’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.74 EPS. As a group, equities research analysts forecast that Laboratory Corp. of America Holdings will post 11.26 EPS for the current fiscal year.

A number of analysts have weighed in on the stock. KeyCorp raised their price objective on shares of Laboratory Corp. of America from $172.00 to $192.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Morgan Stanley upped their target price on shares of Laboratory Corp. of America from $190.00 to $201.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Canaccord Genuity reaffirmed a “hold” rating and issued a $170.00 target price on shares of Laboratory Corp. of America in a research report on Thursday, October 24th. UBS Group cut their price target on shares of Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. 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 target for the company in a research report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $184.90.

About Laboratory Corp. of America

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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