Virginia Retirement Systems ET AL Has $23.94 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Virginia Retirement Systems ET AL lowered its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 86,800 shares of the medical research company’s stock after selling 300 shares during the period. Virginia Retirement Systems ET AL’s holdings in Laboratory Co. of America were worth $23,944,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LH. Seeyond boosted its position in shares of Laboratory Co. of America by 40.4% in the second quarter. Seeyond now owns 5,138 shares of the medical research company’s stock valued at $1,417,000 after acquiring an additional 1,479 shares during the period. Natixis raised 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 acquiring an additional 480 shares in the last quarter. OLD Mission Capital LLC acquired a new position in Laboratory Co. of America during the second quarter worth $7,506,000. Toroso Investments LLC acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at $1,617,000. Finally, Brown Brothers Harriman & Co. increased its position in Laboratory Co. of America by 66.3% in the second quarter. Brown Brothers Harriman & Co. now owns 780 shares of the medical research company’s stock worth $215,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 88.29% of the company’s stock.

LH has been the topic of a number of recent analyst reports. Mizuho raised their target price on Laboratory Co. of America from $318.00 to $332.00 and gave the stock a “buy” rating in a report on Thursday, August 19th. Morgan Stanley raised their target price on Laboratory Co. of America from $273.00 to $368.00 and gave the stock an “overweight” rating in a report on Tuesday, August 31st. Deutsche Bank Aktiengesellschaft raised their target price on Laboratory Co. of America from $297.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, July 30th. Zacks Investment Research upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a report on Wednesday, June 30th. Finally, Robert W. Baird set a $276.78 price objective on Laboratory Co. of America and gave the company a “buy” rating in a report on Wednesday, July 21st. Fourteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $314.52.

Shares of NYSE:LH traded up $3.05 during trading on Thursday, hitting $276.52. 1,893 shares of the company were exchanged, compared to its average volume of 664,737. The stock has a market cap of $26.66 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 1.21 and a beta of 1.04. Laboratory Co. of America Holdings has a fifty-two week low of $190.00 and a fifty-two week high of $309.60. The firm has a fifty day moving average price of $295.41 and a two-hundred day moving average price of $278.68. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 0.54.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Wednesday, July 28th. The medical research company reported $6.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.59 billion. As a group, research analysts predict that Laboratory Co. of America Holdings will post 23.55 EPS for the current year.

In other news, EVP Der Vaart Sandra D. Van sold 4,500 shares of the stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $296.78, for a total value of $1,335,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.

Laboratory Co. of America 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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