HighPoint Advisor Group LLC Makes New $265,000 Investment in Laboratory Co. of America Holdings (NYSE:LH)

HighPoint Advisor Group LLC purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,239 shares of the medical research company’s stock, valued at approximately $265,000.

A number of other institutional investors also recently bought and sold shares of LH. Norges Bank purchased a new position in Laboratory Co. of America during the 4th quarter worth approximately $291,045,000. Morgan Stanley increased its holdings in shares of Laboratory Co. of America by 102.6% during the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after purchasing an additional 1,123,755 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Laboratory Co. of America by 28.0% during the 3rd quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock valued at $444,821,000 after purchasing an additional 483,878 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Laboratory Co. of America by 536.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock valued at $108,653,000 after purchasing an additional 455,462 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Laboratory Co. of America by 20.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after purchasing an additional 424,684 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird cut their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Barclays cut their target price on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Monday, March 25th. Finally, SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $241.86.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total transaction of $421,660.00. Following the transaction, the executive vice president now owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 3,553 shares of Laboratory Co. of America stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $216.74, for a total transaction of $770,077.22. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,655,243.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the completion of the sale, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The disclosure for this sale can be found here. Insiders have sold a total of 18,469 shares of company stock worth $3,959,058 in the last quarter. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 1.0 %

Shares of LH opened at $205.25 on Friday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $234.09. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average is $201.83 and its two-hundred day moving average is $213.36. The stock has a market cap of $17.30 billion, a PE ratio of 41.30, a price-to-earnings-growth ratio of 1.55 and a beta of 1.04.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the company posted $3.82 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts forecast that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.40%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

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 (Dx) and Biopharma Laboratory Services (BLS).