Fisher Asset Management LLC Buys 248 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Fisher Asset Management LLC increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,465 shares of the medical research company’s stock after purchasing an additional 248 shares during the period. Fisher Asset Management LLC’s holdings in Laboratory Co. of America were worth $333,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Mendota Financial Group LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at about $29,000. Bruce G. Allen Investments LLC bought a new position in Laboratory Co. of America in the fourth quarter valued at about $60,000. Disciplined Equity Management Inc. bought a new position in Laboratory Co. of America in the fourth quarter valued at about $68,000. Oakworth Capital Inc. grew its position in Laboratory Co. of America by 48.1% in the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 100 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in Laboratory Co. of America in the fourth quarter valued at about $76,000. Institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LH. JPMorgan Chase & Co. reduced their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Robert W. Baird reduced their price target on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Monday, March 25th. Finally, Barclays reduced their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $241.86.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $208.00 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $234.09. The stock’s 50 day moving average is $201.92 and its 200-day moving average is $213.24. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 41.85, a PEG ratio of 1.56 and a beta of 1.04.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the firm earned $3.82 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS 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. Investors 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 yield of 1.38%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Buying and Selling

In related news, CMO Amy B. Summy sold 3,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the completion of the sale, the chief marketing officer now owns 3,975 shares in the company, valued at $863,727.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CMO Amy B. Summy sold 3,500 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the completion of the sale, the chief marketing officer now owns 3,975 shares in the company, valued at $863,727.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 3,553 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $216.74, for a total value of $770,077.22. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,469 shares of company stock worth $3,959,058. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America 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).