Intech Investment Management LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,263 shares of the medical research company’s stock after purchasing an additional 412 shares during the period. Intech Investment Management LLC’s holdings in Laboratory Co. of America were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its position in Laboratory Co. of America by 2.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,773 shares of the medical research company’s stock valued at $620,000 after buying an additional 58 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Laboratory Co. of America during the third quarter worth approximately $2,991,000. PNC Financial Services Group Inc. lifted its holdings in shares of Laboratory Co. of America by 9.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 38,915 shares of the medical research company’s stock worth $8,697,000 after purchasing an additional 3,433 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at $835,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at $461,000. Institutional investors own 95.94% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on LH. Evercore ISI reduced their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Barclays lifted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. HSBC raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.
Insider Activity
In other news, EVP Der Vaart Sandra D. Van sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $239.42, for a total transaction of $239,420.00. Following the completion of the sale, the executive vice president now owns 2,670 shares in the company, valued at approximately $639,251.40. This trade represents a 27.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,189 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares in the company, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,861 shares of company stock worth $2,853,533 over the last ninety days. Company insiders own 0.85% of the company’s stock.
Laboratory Co. of America Price Performance
Shares of NYSE:LH opened at $238.73 on Wednesday. The company has a 50-day moving average price of $226.67 and a two-hundred day moving average price of $217.61. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $19.97 billion, a PE ratio of 46.18, a P/E/G ratio of 1.97 and a beta of 1.05.
Laboratory Co. of America (NYSE:LH – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $3.38 EPS. Laboratory Co. of America’s revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.
Laboratory Co. of America Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is presently 55.71%.
Laboratory Co. of America Profile
Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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