Mirae Asset Global Investments Co. Ltd. Has $14.59 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 8.4% during the first quarter, Holdings Channel reports. The firm owned 55,354 shares of the medical research company’s stock after selling 5,073 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Laboratory Co. of America were worth $14,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LH. Charles Schwab Investment Management Inc. raised its position in shares of Laboratory Co. of America by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,556 shares of the medical research company’s stock worth $148,482,000 after purchasing an additional 10,076 shares during the period. PFS Investments Inc. grew its holdings in shares of Laboratory Co. of America by 12.2% during the fourth quarter. PFS Investments Inc. now owns 3,471 shares of the medical research company’s stock valued at $1,091,000 after buying an additional 378 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Laboratory Co. of America by 1.4% during the fourth quarter. Gabelli Funds LLC now owns 53,510 shares of the medical research company’s stock valued at $16,813,000 after buying an additional 725 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Laboratory Co. of America by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,876,827 shares of the medical research company’s stock valued at $588,268,000 after buying an additional 41,781 shares in the last quarter. Finally, Alberta Investment Management Corp grew its holdings in shares of Laboratory Co. of America by 65.1% during the fourth quarter. Alberta Investment Management Corp now owns 64,400 shares of the medical research company’s stock valued at $20,235,000 after buying an additional 25,400 shares in the last quarter. 88.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Laboratory Co. of America

In related news, 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 transaction, the chief accounting officer now owns 1,887 shares of the company’s stock, valued at approximately $487,600.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction, the chief accounting officer now owns 1,887 shares of the company’s stock, valued at approximately $487,600.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 32,100 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $253.94, for a total value of $8,151,474.00. Following 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 currently owned by corporate insiders.

Laboratory Co. of America Stock Performance

LH opened at $223.99 on Monday. The company has a market cap of $20.76 billion, a PE ratio of 10.72 and a beta of 1.06. The stock has a 50-day moving average of $242.80 and a 200-day moving average of $249.56. Laboratory Co. of America Holdings has a 52-week low of $212.40 and a 52-week high of $317.17. 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 (NYSE:LHGet Rating) last released its quarterly earnings results on Thursday, July 28th. The medical research company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.35. The company 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%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.13 EPS. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 20.26 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on LH. Credit Suisse Group lowered their price target on Laboratory Co. of America to $308.00 in a report on Tuesday, August 9th. Robert W. Baird lifted their price target 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 reiterated an “overweight” rating and set a $300.00 price target on shares of Laboratory Co. of America in a report on Monday, August 22nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $299.75.

Laboratory Co. of America Company 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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