Private Advisor Group LLC Increases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Private Advisor Group LLC raised its stake in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,782 shares of the medical research company’s stock after acquiring an additional 624 shares during the period. Private Advisor Group LLC’s holdings in Laboratory Co. of America were worth $1,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its stake in Laboratory Co. of America by 102.6% during the 3rd 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 during the period. Diamond Hill Capital Management Inc. raised its stake in Laboratory Co. of America by 644.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock valued at $257,522,000 after buying an additional 1,108,776 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Laboratory Co. of America by 28.0% in the 3rd 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 during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Laboratory Co. of America by 536.0% in the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock worth $108,653,000 after acquiring an additional 455,462 shares during the period. Finally, Wellington Management Group LLP increased its position in 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 during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Up 1.3 %

Shares of LH stock opened at $210.37 on Tuesday. The company’s fifty day simple moving average is $208.89 and its two-hundred day simple moving average is $215.04. Laboratory Co. of America Holdings has a 52 week low of $174.20 and a 52 week high of $234.09. The stock has a market cap of $17.73 billion, a P/E ratio of 42.33, a PEG ratio of 1.56 and a beta of 1.02. 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 (NYSE:LHGet Free Report) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.82 earnings per share. Analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LH shares. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Robert W. Baird dropped their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Evercore ISI assumed coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective for the company. Truist Financial lowered their target price on 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. Finally, Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Read Our Latest Stock Analysis on Laboratory Co. of America

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,439 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $204.33, for a total transaction of $498,360.87. Following the sale, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at $426,436.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the sale, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $204.33, for a total transaction of $498,360.87. Following the transaction, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at $426,436.71. The disclosure for this sale can be found here. Insiders have sold a total of 56,748 shares of company stock valued at $12,249,296 over the last 90 days. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America Company 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).

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

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