Cullen Frost Bankers Inc. Has $230,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Cullen Frost Bankers Inc. lessened its holdings in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 11.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,014 shares of the medical research company’s stock after selling 126 shares during the period. Cullen Frost Bankers Inc.’s holdings in Laboratory Co. of America were worth $230,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mendota Financial Group LLC acquired a new position in Laboratory Co. of America during the 4th quarter worth $29,000. Provence Wealth Management Group bought a new position in shares of Laboratory Co. of America during the 3rd quarter worth about $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Laboratory Co. of America during the 4th quarter worth about $60,000. Disciplined Equity Management Inc. bought a new position in shares of Laboratory Co. of America during the 4th quarter worth about $68,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Laboratory Co. of America by 48.1% during the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH stock opened at $207.67 on Friday. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09. The firm’s 50 day moving average is $208.89 and its 200-day moving average is $214.81. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 41.78, a PEG ratio of 1.56 and a beta of 1.02. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LHGet Free Report) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. 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 business earned $3.82 earnings per share. Laboratory Co. of America’s quarterly revenue 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.39%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LH. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a report on Monday, March 25th. Truist Financial reduced their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Barclays reduced their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Evercore ISI started coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target on the stock. Finally, SVB Leerink started coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $243.14.

Check Out Our Latest Analysis on LH

Insider Activity at Laboratory Co. of America

In related news, CAO Peter J. Wilkinson sold 2,439 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at $426,436.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Peter J. Wilkinson sold 2,439 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at $426,436.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the completion of the sale, the chief financial officer now directly owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. Insiders have sold 56,985 shares of company stock worth $12,302,964 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Profile

(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).

Further Reading

Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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