Laboratory Co. of America Holdings (NYSE:LH) Holdings Lifted by Cooper Financial Group

Cooper Financial Group increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 6.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,472 shares of the medical research company’s stock after acquiring an additional 282 shares during the period. Cooper Financial Group’s holdings in Laboratory Co. of America were worth $977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Laboratory Co. of America during the 4th quarter worth about $291,045,000. Morgan Stanley raised its position in shares of Laboratory Co. of America by 102.6% in the third 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 during the period. Lazard Asset Management LLC raised its holdings in Laboratory Co. of America by 28.0% in the 3rd quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after acquiring an additional 483,878 shares during the period. Ameriprise Financial Inc. lifted its position 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 worth $108,653,000 after purchasing an additional 455,462 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Laboratory Co. of America by 20.6% during the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after buying an additional 424,684 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $204.13, for a total transaction of $51,032.50. Following the transaction, the director now owns 15,972 shares of the company’s stock, valued at $3,260,364.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $204.13, for a total transaction of $51,032.50. Following the sale, the director now directly owns 15,972 shares in the company, valued at approximately $3,260,364.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Mark S. Schroeder sold 6,477 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the sale, the chief operating officer now owns 5,036 shares in the company, valued at $1,094,272.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,469 shares of company stock valued at $3,959,058. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.0 %

LH stock opened at $205.25 on Monday. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 41.30, a PEG ratio of 1.56 and a beta of 1.04. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $234.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The business’s fifty day moving average price is $201.83 and its two-hundred day moving average price is $213.31.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. Laboratory Co. of America’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $3.82 earnings per share. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were issued a $0.72 dividend. The ex-dividend date was Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.40%. Laboratory Co. of America’s payout ratio is currently 57.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LH shares. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Robert W. Baird cut their price target on 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. Finally, JPMorgan Chase & Co. decreased their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $241.86.

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).