Commonwealth Equity Services LLC Boosts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Commonwealth Equity Services LLC lifted its stake in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 2.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 14,380 shares of the medical research company’s stock after buying an additional 292 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Laboratory Co. of America were worth $3,791,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LH. Banque Pictet & Cie SA raised its position in Laboratory Co. of America by 6.2% in the 1st quarter. Banque Pictet & Cie SA now owns 7,355 shares of the medical research company’s stock worth $1,939,000 after buying an additional 432 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Laboratory Co. of America by 9.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 174,263 shares of the medical research company’s stock worth $45,946,000 after buying an additional 14,794 shares during the last quarter. C WorldWide Group Holding A S raised its position in Laboratory Co. of America by 4.4% in the 1st quarter. C WorldWide Group Holding A S now owns 8,078 shares of the medical research company’s stock worth $2,130,000 after buying an additional 339 shares during the last quarter. Arizona State Retirement System raised its position in Laboratory Co. of America by 1.5% in the 1st quarter. Arizona State Retirement System now owns 26,639 shares of the medical research company’s stock worth $7,024,000 after buying an additional 392 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its position in Laboratory Co. of America by 3.0% in the 1st quarter. Hohimer Wealth Management LLC now owns 18,306 shares of the medical research company’s stock worth $4,827,000 after buying an additional 537 shares during the last quarter. Hedge funds and other institutional investors own 92.02% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 32,100 shares of Laboratory Co. of America stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total value of $8,151,474.00. Following the sale, the chief financial officer now directly owns 52,158 shares in the company, valued at approximately $13,245,002.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 32,100 shares of Laboratory Co. of America stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $253.94, for a total value of $8,151,474.00. Following the sale, the chief financial officer now directly owns 52,158 shares in the company, valued at approximately $13,245,002.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Peter J. Wilkinson sold 2,576 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $258.40, for a total transaction of $665,638.40. Following the completion of the sale, the chief accounting officer now owns 1,887 shares in the company, valued at $487,600.80. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Up 0.9 %

LH opened at $254.67 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 1.90. Laboratory Co. of America Holdings has a fifty-two week low of $212.40 and a fifty-two week high of $317.17. The firm’s fifty day moving average is $241.12 and its 200 day moving average is $256.43. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 12.19 and a beta of 1.03.

Laboratory Co. of America (NYSE:LHGet Rating) last released its earnings results on Thursday, July 28th. The medical research company reported $4.95 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.35. Laboratory Co. of America had a net margin of 12.67% and a return on equity of 22.39%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same quarter in the previous year, the company earned $6.13 EPS. Laboratory Co. of America’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, sell-side analysts forecast that Laboratory Co. of America Holdings will post 20.15 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Thursday, August 18th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. Laboratory Co. of America’s dividend payout ratio is currently 13.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective 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. Morgan Stanley dropped their price target on shares of Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Truist Financial dropped their price target on shares of Laboratory Co. of America from $350.00 to $320.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Laboratory Co. of America from $294.00 to $265.00 in a research note on Tuesday, May 3rd. Finally, Robert W. Baird lifted their price target on shares of Laboratory Co. of America from $295.00 to $297.00 and gave the stock an “outperform” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $299.75.

About Laboratory Co. of America

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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.

See Also

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

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