Old North State Trust LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 429.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 921 shares of the medical research company’s stock after buying an additional 747 shares during the quarter. Old North State Trust LLC’s holdings in Laboratory Co. of America were worth $40,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. WealthPLAN Partners LLC purchased a new stake in shares of Laboratory Co. of America during the 1st quarter valued at $25,000. Eagle Bay Advisors LLC purchased a new position in Laboratory Co. of America in the 2nd quarter worth $29,000. Zions Bancorporation N.A. raised its position in Laboratory Co. of America by 45.6% in the 4th quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock worth $31,000 after purchasing an additional 41 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Laboratory Co. of America in the 4th quarter worth $33,000. Finally, ST Germain D J Co. Inc. purchased a new position in Laboratory Co. of America in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 89.37% of the company’s stock.
Laboratory Co. of America Trading Down 1.0 %
Shares of LH opened at $201.67 on Friday. The firm’s 50-day moving average price is $212.42 and its 200-day moving average price is $220.70. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 21.76 and a beta of 1.08. The company has a current ratio of 2.35, a quick ratio of 2.12 and a debt-to-equity ratio of 0.58. Laboratory Co. of America Holdings has a 1-year low of $166.93 and a 1-year high of $222.33.
Laboratory Co. of America (NYSE:LH – Get Free Report) last announced its earnings results on Thursday, July 27th. The medical research company reported $3.42 earnings per share for the quarter, missing analysts’ consensus estimates of $3.47 by ($0.05). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.77 billion. Laboratory Co. of America had a net margin of 5.89% and a return on equity of 14.62%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.96 EPS. Sell-side analysts anticipate that Laboratory Co. of America Holdings will post 13.68 EPS for the current year.
Laboratory Co. of America Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 8th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Monday, August 7th. Laboratory Co. of America’s payout ratio is currently 31.07%.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. Wells Fargo & Company decreased their target price on shares of Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday, August 14th. StockNews.com initiated coverage on shares of Laboratory Co. of America in a research report on Sunday, September 10th. They issued a “hold” rating on the stock. Mizuho reissued a “buy” rating and issued a $257.00 price target on shares of Laboratory Co. of America in a report on Friday. Credit Suisse Group cut their price target on shares of Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Finally, Morgan Stanley cut their price target on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $247.11.
View Our Latest Analysis on LH
Insider Buying and Selling
In related news, Director Kerrii B. Anderson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the sale, the director now owns 15,275 shares of the company’s stock, valued at $3,231,731.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 212 shares of Laboratory Co. of America stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $240.00, for a total value of $50,880.00. Following the completion of the transaction, the executive vice president now directly owns 7,605 shares of the company’s stock, valued at $1,825,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 5,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the completion of the transaction, the director now directly owns 15,275 shares of the company’s stock, valued at $3,231,731.75. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Laboratory Co. of America Company Profile
Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics and Labcorp Drug Development.
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