Fiera Capital Corp Acquires Shares of 911 Laboratory Co. of America Holdings (NYSE:LH)

Fiera Capital Corp acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 911 shares of the medical research company’s stock, valued at approximately $232,000.

Several other institutional investors have also added to or reduced their stakes in LH. Norges Bank purchased a new position in shares of Laboratory Co. of America during the 4th quarter valued at approximately $185,229,000. Veritas Investment Partners UK Ltd. purchased a new position in shares of Laboratory Co. of America during the 4th quarter valued at approximately $151,974,000. Morgan Stanley boosted its stake in shares of Laboratory Co. of America by 56.6% during the 4th quarter. Morgan Stanley now owns 1,214,677 shares of the medical research company’s stock valued at $247,247,000 after buying an additional 439,086 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Laboratory Co. of America by 44.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,273,470 shares of the medical research company’s stock valued at $324,773,000 after buying an additional 393,566 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Laboratory Co. of America by 1,237.2% during the 4th quarter. Renaissance Technologies LLC now owns 335,705 shares of the medical research company’s stock valued at $68,333,000 after buying an additional 310,600 shares during the last quarter. Institutional investors own 88.98% of the company’s stock.

LH has been the topic of several research analyst reports. 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 Securities raised their price objective on Laboratory Co. of America from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, April 14th. Truist raised their price objective on Laboratory Co. of America from $300.00 to $320.00 in a research note on Monday, May 3rd. Jefferies Financial Group raised their target price on Laboratory Co. of America from $300.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. Finally, Citigroup raised their target price on Laboratory Co. of America from $278.00 to $312.00 in a research note on Monday, May 3rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $270.69.

In related news, EVP Mark S. Schroeder sold 667 shares of Laboratory Co. of America stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $251.88, for a total transaction of $168,003.96. Following the transaction, the executive vice president now directly owns 5,006 shares of the company’s stock, valued at $1,260,911.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 4,500 shares of Laboratory Co. of America stock in a transaction dated Monday, June 7th. The stock was sold at an average price of $266.56, for a total value of $1,199,520.00. Following the transaction, the executive vice president now directly owns 9,737 shares in the company, valued at $2,595,494.72. The disclosure for this sale can be found here. Insiders have sold 10,267 shares of company stock worth $2,758,715 over the last three months. Corporate insiders own 0.31% of the company’s stock.

Shares of LH opened at $261.01 on Friday. The firm has a market capitalization of $25.50 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.67 and a quick ratio of 1.55. Laboratory Co. of America Holdings has a one year low of $155.65 and a one year high of $280.69. The company’s fifty day simple moving average is $265.70.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Wednesday, April 28th. The medical research company reported $8.79 EPS for the quarter, beating analysts’ consensus estimates of $7.32 by $1.47. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $3.88 billion. Laboratory Co. of America had a return on equity of 34.07% and a net margin of 17.26%. On average, research analysts expect that Laboratory Co. of America Holdings will post 22.5 earnings per share for the current fiscal year.

Laboratory Co. of America Company 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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