Concentric Wealth Management LLC Buys Shares of 10,702 Laboratory Corporation of America Holdings (LH)

Concentric Wealth Management LLC bought a new position in shares of Laboratory Corporation of America Holdings (NYSE:LH) during the fourth quarter, Holdings Channel reports. The fund bought 10,702 shares of the company’s stock, valued at approximately $1,374,000.

A number of other large investors also recently bought and sold shares of LH. BlackRock Investment Management LLC raised its position in shares of Laboratory Corporation of America Holdings by 0.3% in the second quarter. BlackRock Investment Management LLC now owns 714,432 shares of the company’s stock worth $93,069,000 after buying an additional 1,913 shares during the period. Neuberger Berman Group LLC raised its position in shares of Laboratory Corporation of America Holdings by 97.1% in the second quarter. Neuberger Berman Group LLC now owns 8,629 shares of the company’s stock worth $1,124,000 after buying an additional 4,251 shares during the period. Bank of The West raised its position in shares of Laboratory Corporation of America Holdings by 3.0% in the second quarter. Bank of The West now owns 17,442 shares of the company’s stock worth $2,272,000 after buying an additional 500 shares during the period. BRC Investment Management LLC acquired a new position in shares of Laboratory Corporation of America Holdings during the second quarter worth approximately $6,671,000. Finally, Concourse Capital Management LLC acquired a new position in shares of Laboratory Corporation of America Holdings during the second quarter worth approximately $1,914,000. Institutional investors own 91.59% of the company’s stock.

Institutional Ownership by Quarter for Laboratory Corporation of America Holdings (NYSE:LH)

Laboratory Corporation of America Holdings (NYSE:LH) traded up 0.0809% on Friday, reaching $139.2425. The company had a trading volume of 126,718 shares. The company has a market capitalization of $14.34 billion, a price-to-earnings ratio of 22.0810 and a beta of 0.94. Laboratory Corporation of America Holdings has a 12 month low of $106.01 and a 12 month high of $141.32. The company’s 50 day moving average price is $133.14 and its 200-day moving average price is $132.91.

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Laboratory Corporation of America Holdings (NYSE:LH) last announced its quarterly earnings results on Thursday, February 16th. The company reported $2.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.13 by $0.02. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.35 billion. Laboratory Corporation of America Holdings had a return on equity of 16.97% and a net margin of 6.85%. Laboratory Corporation of America Holdings’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.98 EPS. On average, equities analysts predict that Laboratory Corporation of America Holdings will post $8.80 earnings per share for the current fiscal year.

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A number of research analysts have recently commented on LH shares. Gabelli started coverage on Laboratory Corporation of America Holdings in a report on Tuesday, October 25th. They set a “buy” rating and a $180.00 price target on the stock. Canaccord Genuity set a $140.00 price target on Laboratory Corporation of America Holdings and gave the company a “buy” rating in a report on Monday, January 23rd. Deutsche Bank AG reissued a “buy” rating and set a $170.00 price target on shares of Laboratory Corporation of America Holdings in a report on Wednesday, January 18th. Zacks Investment Research lowered Laboratory Corporation of America Holdings from a “buy” rating to a “hold” rating in a report on Tuesday, October 25th. Finally, Mizuho raised their price target on Laboratory Corporation of America Holdings from $135.00 to $139.00 and gave the company a “neutral” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $147.07.

About Laboratory Corporation of America Holdings

Laboratory Corporation of America Holdings is a healthcare diagnostics company. The Company, together with its subsidiaries, is engaged in providing clinical laboratory services and drug development support. The Company operates through two segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD).

5 Day Chart for NYSE:LH

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