Laboratory Co. of America Holdings (NYSE:LH) CMO Amy B. Summy Sells 3,500 Shares

Laboratory Co. of America Holdings (NYSE:LHGet Free Report) CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the transaction, the chief marketing officer now owns 3,975 shares in the company, valued at approximately $863,727.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $212.12 on Thursday. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The stock’s 50 day moving average is $218.28 and its 200 day moving average is $214.55. The firm has a market cap of $17.84 billion, a P/E ratio of 45.42, a P/E/G ratio of 1.59 and a beta of 1.01.

Laboratory Co. of America (NYSE:LHGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the previous year, the firm earned $4.14 earnings per share. The company’s revenue was down 17.5% compared to the same quarter last year. As a group, research analysts expect that Laboratory Co. of America Holdings will post 14.83 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, February 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 61.67%.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors have recently added to or reduced their stakes in LH. Vanguard Group Inc. increased its holdings in shares of Laboratory Co. of America by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock valued at $2,863,118,000 after acquiring an additional 106,063 shares in the last quarter. Wellington Management Group LLP increased 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 valued at $500,033,000 after acquiring an additional 424,684 shares in the last quarter. Morgan Stanley increased its holdings in shares of Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after acquiring an additional 1,123,755 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Laboratory Co. of America by 28.0% during the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after buying an additional 483,878 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Laboratory Co. of America by 1.4% during the first quarter. Geode Capital Management LLC now owns 1,843,051 shares of the medical research company’s stock worth $421,878,000 after buying an additional 26,197 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LH shares. Barclays started coverage on Laboratory Co. of America in a research report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price on the stock. SVB Leerink started coverage on Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price on the stock. Evercore ISI assumed coverage on Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price on the stock. Argus raised 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, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.50.

Check Out Our Latest Research Report on LH

About Laboratory Co. of America

(Get Free Report)

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).

Read More

Insider Buying and Selling by Quarter for Laboratory Co. of America (NYSE:LH)

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.