Mercer Global Advisors Inc. ADV Raises Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Mercer Global Advisors Inc. ADV grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.5% during the first quarter, HoldingsChannel reports. The fund owned 13,993 shares of the medical research company’s stock after purchasing an additional 65 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Laboratory Co. of America were worth $3,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LH. First Trust Advisors LP increased its holdings in shares of Laboratory Co. of America by 30.8% in the 4th quarter. First Trust Advisors LP now owns 102,994 shares of the medical research company’s stock valued at $20,964,000 after acquiring an additional 24,231 shares during the last quarter. Bailard Inc. purchased a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $243,000. Savant Capital LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $200,000. Baker Tilly Financial LLC purchased a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $257,000. Finally, State of Wisconsin Investment Board increased its holdings in shares of Laboratory Co. of America by 69.9% in the 4th quarter. State of Wisconsin Investment Board now owns 133,184 shares of the medical research company’s stock valued at $27,110,000 after acquiring an additional 54,794 shares during the last quarter. Institutional investors and hedge funds own 88.98% of the company’s stock.

LH has been the topic of a number of recent analyst reports. Truist Securities increased their price objective on Laboratory Co. of America from $280.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, April 14th. Mizuho raised their price target on Laboratory Co. of America from $267.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 12th. Truist raised their price target on Laboratory Co. of America from $300.00 to $320.00 in a research note on Monday, May 3rd. JPMorgan Chase & Co. raised their price target on Laboratory Co. of America from $261.00 to $279.00 and gave the stock an “overweight” rating in a research note on Friday, February 12th. Finally, Argus raised their price target 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Laboratory Co. of America currently has an average rating of “Buy” and an average target price of $270.69.

In other news, CEO Paul R. Kirchgraber sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The stock was sold at an average price of $276.55, for a total value of $691,375.00. Following the completion of the sale, the chief executive officer now directly owns 7,844 shares of the company’s stock, valued at approximately $2,169,258.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark S. Schroeder sold 667 shares of the firm’s stock in a transaction that occurred on Tuesday, March 30th. The shares were sold at an average price of $251.88, for a total value of $168,003.96. Following the completion of the sale, the executive vice president now directly owns 5,006 shares of the company’s stock, valued at $1,260,911.28. The disclosure for this sale can be found here. Insiders sold a total of 10,267 shares of company stock valued at $2,758,715 over the last three months. Insiders own 0.31% of the company’s stock.

Laboratory Co. of America stock opened at $261.01 on Friday. Laboratory Co. of America Holdings has a twelve month low of $155.65 and a twelve month high of $280.69. The stock’s 50 day moving average is $265.70. The company has a quick ratio of 1.55, a current ratio of 1.67 and a debt-to-equity ratio of 0.50. The firm has a market cap of $25.50 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.04.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, April 28th. The medical research company reported $8.79 EPS for the quarter, beating the consensus estimate of $7.32 by $1.47. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Laboratory Co. of America had a return on equity of 34.07% and a net margin of 17.26%. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 22.5 EPS for the current year.

Laboratory Co. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various 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 Co. of America (NYSE:LH)

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