Salem Investment Counselors Inc. boosted its stake in Laboratory Co. of America Holdings (NYSE: LH – Get Rating) by 2.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,566 shares of the medical research company stock after acquiring an additional 63 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Laboratory Co. of America were worth $ 806,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in LH. International Assets Investment Management LLC boosted its stake in Laboratory Co. of America by 1,092.8% during the 4th quarter. International Assets Investment Management LLC now owns 240,131 shares of the medical research company stock worth $ 290,000 after purchasing an additional 220,000 shares during the last quarter. Robeco Institutional Asset Management BV boosted its stake in Laboratory Co. of America by 96.4% during the 4th quarter. Robeco Institutional Asset Management BV now owns 334,768 shares of the medical research company stock worth $ 105,188,000 after purchasing an additional 164,328 shares during the last quarter. Alliancebernstein LP boosted its stake in Laboratory Co. of America by 11.5% during the 4th quarter. Alliancebernstein LP now owns 1,488,164 shares of the medical research company stock worth $ 467,596,000 after purchasing an additional 152,947 shares during the last quarter. DE Shaw & Co. Inc. boosted its stake in Laboratory Co. of America by 89.2% during the 4th quarter. DE Shaw & Co. Inc. now owns 301,238 shares of the medical research company stock worth $ 94,652,000 after purchasing an additional 142,042 shares during the last quarter. Finally, State Street Corp boosted its stake in Laboratory Co. of America by 2.7% during the 4th quarter. State Street Corp now owns 4,423,702 shares of the medical research company stock worth $ 1,389,971,000 after purchasing an additional 117,371 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 2,356 shares of the business’s 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 document filed with the SEC, which is available through the SEC website. Also, Director R Sanders Williams sold 572 shares of the business’s 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. 0.31% of the stock is owned by corporate insiders.
LH has been the topic of several analyst reports. Mizuho reduced their price target on Laboratory Co. of America from $ 354.00 to $ 323.00 in a report on Wednesday, May 4th. Truist Financial reduced their price target on Laboratory Co. of America from $ 350.00 to $ 320.00 in a report on Friday, April 29th. StockNews.com initiated coverage on Laboratory Co. of America in a report on Thursday, March 31st. They set a “buy” rating on the stock. Credit Suisse Group reduced their price target on Laboratory Co. of America from $ 344.00 to $ 312.00 in a report on Monday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Laboratory Co. of America from $ 294.00 to $ 265.00 in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $ 297.72.
Shares of LH opened at $ 216.47 on Tuesday. The firm has a market cap of $ 20.07 billion, a P / E ratio of 9.93 and a beta of 1.04. Laboratory Co. of America Holdings has a 12-month low of $ 215.43 and a 12-month high of $ 317.17. The company 50-day moving average price is $ 252.21 and its 200 day moving average price is $ 270.45. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt-to-equity ratio of 0.51.
Laboratory Co. of America (NYSE: LH – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The medical research company reported $ 6.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 5.88 by $ 0.23. The company had revenue of $ 3.90 billion for the quarter, compared to analyst estimates of $ 4.01 billion. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $ 8.79 earnings per share. Equities research analysts forecast that Laboratory Co. of America Holdings will post 19.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th were paid a dividend of $ 0.72 per share. The ex-dividend date was Wednesday, May 18th. This represents a $ 2.88 dividend on an annualized basis and a yield of 1.33%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 13.22%.
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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