First Mercantile Trust Co. Sells 739 Shares of Laboratory Co. of America Holdings (NYSE:LH)

First Mercantile Trust Co. reduced its position in Laboratory Co. of America Holdings (NYSE:LH) by 49.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 767 shares of the medical research company’s stock after selling 739 shares during the period. First Mercantile Trust Co.’s holdings in Laboratory Co. of America were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Achmea Investment Management B.V. boosted its stake in Laboratory Co. of America by 14.0% in the second quarter. Achmea Investment Management B.V. now owns 13,635 shares of the medical research company’s stock worth $3,762,000 after buying an additional 1,670 shares in the last quarter. Railway Pension Investments Ltd bought a new position in shares of Laboratory Co. of America during the first quarter valued at approximately $9,768,000. American International Group Inc. raised its holdings in shares of Laboratory Co. of America by 4.0% during the first quarter. American International Group Inc. now owns 40,767 shares of the medical research company’s stock valued at $10,397,000 after acquiring an additional 1,575 shares in the last quarter. Veritas Investment Partners UK Ltd. grew its stake in Laboratory Co. of America by 1.7% in the second quarter. Veritas Investment Partners UK Ltd. now owns 698,541 shares of the medical research company’s stock worth $192,630,000 after purchasing an additional 11,485 shares during the period. Finally, Banque Cantonale Vaudoise grew its stake in Laboratory Co. of America by 106.6% in the first quarter. Banque Cantonale Vaudoise now owns 4,556 shares of the medical research company’s stock worth $1,162,000 after purchasing an additional 2,351 shares during the period. Institutional investors and hedge funds own 88.29% of the company’s stock.

Shares of Laboratory Co. of America stock opened at $296.80 on Wednesday. The firm has a market capitalization of $28.61 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.21 and a beta of 1.04. Laboratory Co. of America Holdings has a fifty-two week low of $176.49 and a fifty-two week high of $309.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.98 and a current ratio of 2.13. The stock has a 50 day moving average of $294.79 and a 200 day moving average of $272.36.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 28th. The medical research company reported $6.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.64 by $0.49. Laboratory Co. of America had a return on equity of 35.18% and a net margin of 17.57%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Analysts forecast that Laboratory Co. of America Holdings will post 23.55 EPS for the current year.

Several equities research analysts recently commented on the company. Zacks Investment Research raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research report on Wednesday, June 30th. Deutsche Bank Aktiengesellschaft increased their target price on Laboratory Co. of America from $297.00 to $330.00 and gave the company a “buy” rating in a report on Friday, July 30th. Argus raised their price objective on Laboratory Co. of America from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Thursday, May 20th. Truist lifted their target price on Laboratory Co. of America from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 30th. They noted that the move was a valuation call. Finally, Mizuho lifted their target price on Laboratory Co. of America from $318.00 to $332.00 and gave the company a “buy” rating in a research note on Thursday, August 19th. Fourteen analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $314.52.

Laboratory Co. of America Company Profile

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.

Further Reading: ESG Score

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

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.