Public Employees Retirement Association of Colorado Trims Position in Laboratory Corp. of America Holdings (NYSE:LH)

Public Employees Retirement Association of Colorado lessened its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,068 shares of the medical research company’s stock after selling 421 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Laboratory Corp. of America were worth $2,380,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LH. Peddock Capital Advisors LLC purchased a new position in shares of Laboratory Corp. of America during the 4th quarter worth $25,000. Financial Advantage Inc. purchased a new position in shares of Laboratory Corp. of America during the 3rd quarter worth $26,000. Rational Advisors LLC lifted its stake in shares of Laboratory Corp. of America by 106.2% during the 3rd quarter. Rational Advisors LLC now owns 200 shares of the medical research company’s stock worth $34,000 after purchasing an additional 103 shares during the period. Usca Ria LLC purchased a new position in shares of Laboratory Corp. of America during the 3rd quarter worth $40,000. Finally, Bridger Capital Management LLC purchased a new position in shares of Laboratory Corp. of America during the 3rd quarter worth $54,000. 90.74% of the stock is currently owned by institutional investors.

Shares of LH traded down $0.33 during trading hours on Friday, hitting $194.40. The stock had a trading volume of 16,924 shares, compared to its average volume of 703,204. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.08 and a current ratio of 1.17. The firm has a market cap of $17.82 billion, a P/E ratio of 25.57, a P/E/G ratio of 1.81 and a beta of 1.07. The company’s fifty day simple moving average is $176.75 and its 200 day simple moving average is $170.23. Laboratory Corp. of America Holdings has a 12-month low of $140.53 and a 12-month high of $196.36.

Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 13th. The medical research company reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. Laboratory Corp. of America had a return on equity of 15.33% and a net margin of 6.63%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company posted $2.52 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Laboratory Corp. of America Holdings will post 11.25 earnings per share for the current fiscal year.

LH has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on Laboratory Corp. of America from to in a research note on Thursday. Citigroup increased their target price on Laboratory Corp. of America from $179.00 to $204.00 and gave the stock a “neutral” rating in a research report on Friday. Bank of America lowered Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a research report on Friday, January 3rd. UBS Group cut their target price on Laboratory Corp. of America from $204.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $193.19.

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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