Kestra Private Wealth Services LLC Acquires 1,099 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Kestra Private Wealth Services LLC lifted its stake in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 70.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,666 shares of the medical research company’s stock after purchasing an additional 1,099 shares during the period. Kestra Private Wealth Services LLC’s holdings in Laboratory Co. of America were worth $703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MCF Advisors LLC bought a new position in shares of Laboratory Co. of America in the 1st quarter worth $25,000. Tcwp LLC bought a new stake in shares of Laboratory Co. of America in the 1st quarter valued at about $26,000. Washington Trust Advisors Inc. increased its stake in shares of Laboratory Co. of America by 352.2% in the 1st quarter. Washington Trust Advisors Inc. now owns 104 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Ellevest Inc. increased its stake in shares of Laboratory Co. of America by 991.7% in the 1st quarter. Ellevest Inc. now owns 131 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 119 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its position in shares of Laboratory Co. of America by 800.0% during the first quarter. M&R Capital Management Inc. now owns 225 shares of the medical research company’s stock worth $59,000 after purchasing an additional 200 shares in the last quarter. 88.82% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Down 0.1 %

NYSE:LH opened at $223.99 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.74 and a current ratio of 1.90. The company has a market cap of $20.76 billion, a PE ratio of 10.72 and a beta of 1.06. Laboratory Co. of America Holdings has a 52-week low of $212.40 and a 52-week high of $317.17. The stock has a 50-day simple moving average of $242.80 and a 200 day simple moving average of $249.56.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The medical research company reported $4.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.60 by $0.35. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.76 billion. Laboratory Co. of America had a return on equity of 22.39% and a net margin of 12.67%. Laboratory Co. of America’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the company earned $6.13 earnings per share. On average, sell-side analysts expect that Laboratory Co. of America Holdings will post 20.26 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 18th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Wednesday, August 17th. Laboratory Co. of America’s payout ratio is 13.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group reduced their price target on shares of Laboratory Co. of America to $308.00 in a research report on Tuesday, August 9th. Robert W. Baird lifted their price objective on Laboratory Co. of America from $295.00 to $297.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $300.00 target price on shares of Laboratory Co. of America in a research note on Monday, August 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $299.75.

Insider Activity

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

Laboratory Co. of America Profile

(Get Rating)

Laboratory Corporation of America Holdings operates as a global 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 Labcorp Drug Development (DD).

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

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