Fairfield Bush & CO. lessened its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,687 shares of the medical research company’s stock after selling 393 shares during the period. Laboratory Corp. of America accounts for approximately 1.6% of Fairfield Bush & CO.’s holdings, making the stock its 15th biggest position. Fairfield Bush & CO.’s holdings in Laboratory Corp. of America were worth $3,752,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. River Wealth Advisors LLC grew its position in Laboratory Corp. of America by 3.6% in the 4th quarter. River Wealth Advisors LLC now owns 1,720 shares of the medical research company’s stock worth $291,000 after purchasing an additional 60 shares during the last quarter. CSat Investment Advisory L.P. boosted its holdings in shares of Laboratory Corp. of America by 23.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 322 shares of the medical research company’s stock valued at $55,000 after acquiring an additional 61 shares in the last quarter. Ellevest Inc. boosted its holdings in shares of Laboratory Corp. of America by 49.3% in the first quarter. Ellevest Inc. now owns 218 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 72 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Laboratory Corp. of America by 7.3% in the fourth quarter. Parallel Advisors LLC now owns 1,162 shares of the medical research company’s stock valued at $197,000 after acquiring an additional 79 shares in the last quarter. Finally, Capital City Trust Co. FL boosted its holdings in shares of Laboratory Corp. of America by 0.6% in the first quarter. Capital City Trust Co. FL now owns 13,592 shares of the medical research company’s stock valued at $1,718,000 after acquiring an additional 84 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Shares of LH traded down $0.43 during mid-day trading on Wednesday, hitting $179.39. 24,145 shares of the company’s stock were exchanged, compared to its average volume of 797,767. Laboratory Corp. of America Holdings has a twelve month low of $98.02 and a twelve month high of $196.36. The firm has a fifty day moving average of $162.83 and a two-hundred day moving average of $165.27. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.92. The stock has a market cap of $17.21 billion, a price-to-earnings ratio of 56.29, a P/E/G ratio of 3.80 and a beta of 1.37.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Wednesday, April 29th. The medical research company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.42. Laboratory Corp. of America had a net margin of 2.77% and a return on equity of 15.03%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period last year, the business posted $2.62 EPS. Laboratory Corp. of America’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Laboratory Corp. of America Holdings will post 9 earnings per share for the current year.

In other news, EVP Judith C. Seltz bought 330 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $168.56 per share, for a total transaction of $55,624.80. Following the purchase, the executive vice president now owns 250 shares of the company’s stock, valued at approximately $42,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.70% of the company’s stock.

Several research analysts have recently issued reports on the stock. Deutsche Bank assumed coverage on shares of Laboratory Corp. of America in a report on Tuesday. They issued a “buy” rating and a $210.00 price objective for the company. UBS Group increased their target price on shares of Laboratory Corp. of America from $209.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Citigroup raised shares of Laboratory Corp. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $204.00 to $214.00 in a research note on Monday, April 27th. Wolfe Research raised shares of Laboratory Corp. of America from an “underperform” rating to a “market perform” rating and set a $188.00 target price for the company in a research note on Monday, April 27th. Finally, Morgan Stanley increased their target price on shares of Laboratory Corp. of America from $241.00 to $244.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Laboratory Corp. of America currently has an average rating of “Buy” and an average target price of $198.94.

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.

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

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