Pictet Asset Management Ltd. Has $9.72 Million Holdings in Laboratory Corp. of America Holdings (LH)

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Pictet Asset Management Ltd. lowered its position in Laboratory Corp. of America Holdings (NYSE:LH) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,990 shares of the medical research company’s stock after selling 1,600 shares during the period. Pictet Asset Management Ltd. owned approximately 0.06% of Laboratory Corp. of America worth $9,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Captrust Financial Advisors lifted its stake in Laboratory Corp. of America by 20.0% in the second quarter. Captrust Financial Advisors now owns 1,785 shares of the medical research company’s stock worth $320,000 after purchasing an additional 297 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its stake in Laboratory Corp. of America by 24.8% in the third quarter. Piedmont Investment Advisors Inc. now owns 1,493 shares of the medical research company’s stock worth $259,000 after purchasing an additional 297 shares during the last quarter. State Treasurer State of Michigan lifted its stake in Laboratory Corp. of America by 1.0% in the second quarter. State Treasurer State of Michigan now owns 30,297 shares of the medical research company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Alps Advisors Inc. lifted its stake in Laboratory Corp. of America by 11.1% in the second quarter. Alps Advisors Inc. now owns 3,057 shares of the medical research company’s stock worth $549,000 after purchasing an additional 305 shares during the last quarter. Finally, Strs Ohio lifted its stake in Laboratory Corp. of America by 1.3% in the third quarter. Strs Ohio now owns 24,261 shares of the medical research company’s stock worth $4,213,000 after purchasing an additional 311 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on LH shares. Citigroup decreased their price objective on shares of Laboratory Corp. of America from $184.00 to $171.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. Zacks Investment Research raised shares of Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Bank of America started coverage on shares of Laboratory Corp. of America in a research note on Friday, October 19th. They set a “buy” rating for the company. Canaccord Genuity reaffirmed a “hold” rating and set a $155.00 price target (down previously from $162.00) on shares of Laboratory Corp. of America in a research note on Sunday, December 2nd. Finally, Goldman Sachs Group downgraded shares of Laboratory Corp. of America from a “conviction-buy” rating to a “buy” rating and decreased their price target for the company from $190.00 to $180.00 in a research note on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Laboratory Corp. of America presently has an average rating of “Hold” and an average target price of $179.69.

Laboratory Corp. of America stock opened at $141.96 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. Laboratory Corp. of America Holdings has a fifty-two week low of $139.18 and a fifty-two week high of $190.35. The company has a market cap of $14.49 billion, a PE ratio of 13.11, a P/E/G ratio of 1.47 and a beta of 0.99.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a net margin of 13.27% and a return on equity of 17.13%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the firm posted $2.46 EPS. The business’s revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts predict that Laboratory Corp. of America Holdings will post 10.99 EPS for the current year.

In related news, Director R Sanders Williams sold 350 shares of Laboratory Corp. of America stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $162.14, for a total transaction of $56,749.00. Following the transaction, the director now directly owns 7,886 shares of the company’s stock, valued at $1,278,636.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 3,700 shares of Laboratory Corp. of America stock in a transaction that occurred 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 transaction, the director now directly owns 21,795 shares in the company, valued at $3,558,905.55. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

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Laboratory Corp. of America Company Profile

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.

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

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