Ossiam Sells 249 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Ossiam lowered its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,306 shares of the medical research company’s stock after selling 249 shares during the period. Ossiam’s holdings in Laboratory Co. of America were worth $3,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Natixis lifted its stake in Laboratory Co. of America by 1.9% during the second quarter. Natixis now owns 25,107 shares of the medical research company’s stock worth $6,926,000 after purchasing an additional 480 shares during the last quarter. OLD Mission Capital LLC bought a new stake in Laboratory Co. of America during the second quarter worth about $7,506,000. Toroso Investments LLC bought a new stake in Laboratory Co. of America during the second quarter worth about $1,617,000. Brown Brothers Harriman & Co. lifted its stake in shares of Laboratory Co. of America by 66.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 780 shares of the medical research company’s stock valued at $215,000 after acquiring an additional 311 shares during the last quarter. Finally, Sigma Planning Corp bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at about $262,000. 88.29% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on LH. Robert W. Baird set a $276.78 target price on Laboratory Co. of America and gave the company a “buy” rating in a research note on Wednesday, July 21st. Morgan Stanley boosted their target price on Laboratory Co. of America from $273.00 to $368.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Mizuho boosted 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. Zacks Investment Research raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Wednesday, June 30th. Finally, Truist boosted 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. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Buy” and an average price target of $314.52.

Shares of Laboratory Co. of America stock traded up $2.41 during midday trading on Thursday, hitting $275.88. The company had a trading volume of 944 shares, compared to its average volume of 664,737. 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 market capitalization of $26.59 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $295.41 and a 200 day moving average of $278.68. Laboratory Co. of America Holdings has a 52-week low of $190.00 and a 52-week high of $309.60.

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

In related news, EVP Der Vaart Sandra D. Van sold 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $296.78, for a total value of $1,335,510.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

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.

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

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