Raymond James Trust N.A. trimmed its holdings in shares of Laboratory Corp. of America Holdings (NYSE:LH) by 40.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,795 shares of the medical research company’s stock after selling 1,212 shares during the quarter. Raymond James Trust N.A.’s holdings in Laboratory Corp. of America were worth $275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LH. JFS Wealth Advisors LLC purchased a new stake in Laboratory Corp. of America in the fourth quarter worth $26,000. Evolution Wealth Advisors LLC purchased a new stake in Laboratory Corp. of America in the fourth quarter worth $29,000. Bremer Trust National Association purchased a new stake in Laboratory Corp. of America in the fourth quarter worth $31,000. Quantamental Technologies LLC purchased a new stake in Laboratory Corp. of America in the fourth quarter worth $39,000. Finally, Old North State Trust LLC increased its position in Laboratory Corp. of America by 464.2% in the fourth quarter. Old North State Trust LLC now owns 378 shares of the medical research company’s stock worth $47,000 after buying an additional 311 shares during the last quarter. 91.51% of the stock is owned by institutional investors.

A number of equities analysts have recently commented on LH shares. Morgan Stanley set a $175.00 price target on Laboratory Corp. of America and gave the stock a “buy” rating in a report on Friday, February 22nd. UBS Group set a $178.00 price target on Laboratory Corp. of America and gave the stock a “buy” rating in a report on Friday, February 8th. Jefferies Financial Group raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $154.00 to $190.00 in a report on Tuesday, April 2nd. TheStreet lowered Laboratory Corp. of America from a “b-” rating to a “c+” rating in a report on Friday, January 11th. Finally, Zacks Investment Research raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Laboratory Corp. of America presently has an average rating of “Hold” and a consensus target price of $175.50.

Shares of NYSE:LH opened at $145.22 on Monday. Laboratory Corp. of America Holdings has a 1 year low of $119.38 and a 1 year high of $190.35. The company has a current ratio of 1.51, a quick ratio of 1.38 and a debt-to-equity ratio of 0.87. The stock has a market cap of $14.33 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15.

Laboratory Corp. of America (NYSE:LH) last posted its earnings results on Thursday, February 7th. The medical research company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.04. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the business earned $2.45 EPS. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Laboratory Corp. of America Holdings will post 11.22 earnings per share for the current fiscal year.

In related news, Director R Sanders Williams sold 1,038 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total value of $152,586.00. Following the transaction, the director now directly owns 8,924 shares of the company’s stock, valued at approximately $1,311,828. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

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Laboratory Corp. of America Company Profile

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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