MML Investors Services LLC raised its holdings in shares of Laboratory Co. of America Holdings (NYSE: LH – Get Rating) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,331 shares of the medical research company stock after acquiring an additional 534 shares during the period. MML Investors Services LLC’s holdings in Laboratory Co. of America were worth $ 2,932,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kentucky Retirement Systems increased its holdings in shares of Laboratory Co. of America by 0.6% during the 3rd quarter. Kentucky Retirement Systems now owns 5,721 shares of the medical research company stock valued at $ 1,610,000 after purchasing an additional 35 shares in the last quarter. Veritable LP increased its holdings in shares of Laboratory Co. of America by 2.4% during the 3rd quarter. Veritable LP now owns 1,520 shares of the medical research company stock valued at $ 428,000 after purchasing an additional 36 shares in the last quarter. Condor Capital Management increased its holdings in shares of Laboratory Co. of America by 0.4% during the 4th quarter. Condor Capital Management now owns 9,835 shares of the medical research company stock valued at $ 3,090,000 after purchasing an additional 37 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Laboratory Co. of America by 0.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,241 shares of the medical research company stock valued at $ 2,589,000 after purchasing an additional 41 shares in the last quarter. Finally, Trust Investment Advisors increased its holdings in shares of Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,395 shares of the medical research company stock valued at $ 753,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 92.02% of the company stock.
Shares of LH stock opened at $ 224.57 on Friday. The company 50-day moving average price is $ 253.14 and its 200-day moving average price is $ 271.06. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt-to-equity ratio of 0.51. The stock has a market cap of $ 20.82 billion, a price-to-earnings ratio of 10.31 and a beta of 1.04. Laboratory Co. of America Holdings has a twelve month low of $ 222.54 and a twelve month high of $ 317.17.
Laboratory Co. of America (NYSE: LH – Get Rating) last posted its earnings results on Thursday, April 28th. The medical research company reported $ 6.11 EPS for the quarter, beating analysts’ consensus estimates of $ 5.88 by $ 0.23. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The company had revenue of $ 3.90 billion for the quarter, compared to analysts’ expectations of $ 4.01 billion. During the same quarter in the prior year, the company posted $ 8.79 earnings per share. Laboratory Co. of America’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Laboratory Co. of America Holdings will post 19.8 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th were given a $ 0.72 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $ 2.88 dividend on an annualized basis and a yield of 1.28%. Laboratory Co. of America’s payout ratio is currently 13.22%.
In other news, EVP Mark S. Schroeder sold 2,356 shares of the stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $ 277.11, for a total transaction of $ 652,871.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R Sanders Williams sold 572 shares of the stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $ 272.98, for a total transaction of $ 156,144.56. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company stock.
Several brokerages recently commented on LH. Morgan Stanley cut their price target on shares of Laboratory Co. of America from $ 360.00 to $ 300.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Credit Suisse Group cut their price target on shares of Laboratory Co. of America from $ 344.00 to $ 312.00 in a report on Monday, May 2nd. StockNews.com began coverage on shares of Laboratory Co. of America in a report on Thursday, March 31st. They issued a “buy” rating for the company. Wells Fargo & Company cut their price target on shares of Laboratory Co. of America from $ 290.00 to $ 235.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Laboratory Co. of America from $ 294.00 to $ 265.00 in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company stock. According to MarketBeat.com, Laboratory Co. of America has a consensus rating of “Buy” and a consensus price target of $ 297.72.
Laboratory Co. of America Profile: (Get Rating)
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyzes, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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