Maryland State Retirement & Pension System Has $1.90 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Maryland State Retirement & Pension System reduced its stake in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,202 shares of the medical research company’s stock after selling 214 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Laboratory Co. of America were worth $1,899,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $98,000. National Asset Management Inc. raised its stake in shares of Laboratory Co. of America by 12.1% in the 3rd quarter. National Asset Management Inc. now owns 4,859 shares of the medical research company’s stock valued at $1,368,000 after buying an additional 523 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Laboratory Co. of America by 22.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 46,489 shares of the medical research company’s stock valued at $13,084,000 after buying an additional 8,571 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Laboratory Co. of America by 8.2% in the 3rd quarter. Cetera Advisor Networks LLC now owns 6,199 shares of the medical research company’s stock valued at $1,745,000 after buying an additional 469 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Laboratory Co. of America by 5.6% in the 3rd quarter. Cetera Investment Advisers now owns 5,363 shares of the medical research company’s stock valued at $1,509,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Shares of NYSE LH opened at $233.26 on Thursday. The firm has a market capitalization of $21.62 billion, a PE ratio of 10.70 and a beta of 1.04. 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 Holdings has a 1 year low of $212.40 and a 1 year high of $317.17. The firm’s 50-day moving average is $245.77 and its 200-day moving average is $267.54.

Laboratory Co. of America (NYSE:LHGet Rating) last issued its earnings results on Thursday, April 28th. The medical research company reported $6.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $8.79 EPS. As a group, equities research analysts anticipate that Laboratory Co. of America Holdings will post 19.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Investors 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 dividend yield of 1.23%. Laboratory Co. of America’s dividend payout ratio is 13.22%.

LH has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Credit Suisse Group lowered their target price on shares of Laboratory Co. of America from $344.00 to $312.00 in a report on Monday, May 2nd. Mizuho lowered their target price on shares of Laboratory Co. of America from $354.00 to $323.00 in a report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Laboratory Co. of America from $294.00 to $265.00 in a report on Tuesday, May 3rd. Finally, Morgan Stanley decreased their price objective on shares of Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday, May 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.72.

In related news, EVP Mark S. Schroeder sold 2,356 shares of the stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $277.11, for a total value of $652,871.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Sanders Williams sold 572 shares of the firm’s stock in a transaction that occurred on 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. Company insiders own 0.31% of the company’s stock.

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

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