Mackenzie Financial Corp Purchases 8,414 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Mackenzie Financial Corp raised its position in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 101.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,711 shares of the medical research company’s stock after acquiring an additional 8,414 shares during the quarter. Mackenzie Financial Corp’s holdings in Laboratory Co. of America were worth $3,916,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LH. MCF Advisors LLC purchased a new stake in shares of Laboratory Co. of America during the first quarter worth about $25,000. Tcwp LLC bought a new stake in shares of Laboratory Co. of America in the 1st quarter valued at approximately $26,000. Jones Financial Companies Lllp lifted its stake in shares of Laboratory Co. of America by 91.4% in the 2nd quarter. Jones Financial Companies Lllp now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 53 shares during the last quarter. Washington Trust Advisors Inc. lifted 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 purchasing an additional 81 shares during the last quarter. Finally, WFA of San Diego LLC bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at approximately $30,000. Institutional investors own 88.82% of the company’s stock.

Insiders Place Their Bets

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 25,000 shares of Laboratory Co. of America stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $210.62, for a total transaction of $5,265,500.00. Following the completion of the sale, the chief financial officer now owns 27,158 shares of the company’s stock, valued at approximately $5,720,017.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Mark S. Schroeder sold 1,116 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $232.67, for a total value of $259,659.72. Following the completion of the transaction, the executive vice president now owns 6,687 shares of the company’s stock, valued at approximately $1,555,864.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 25,000 shares of the company’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $210.62, for a total value of $5,265,500.00. Following the completion of the transaction, the chief financial officer now directly owns 27,158 shares of the company’s stock, valued at approximately $5,720,017.96. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Mizuho decreased their price target on Laboratory Co. of America from $296.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, November 3rd. Robert W. Baird reduced their price objective on Laboratory Co. of America from $297.00 to $270.00 in a report on Friday, October 28th. Morgan Stanley reduced their price objective on Laboratory Co. of America from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, October 31st. Truist Financial reduced their price objective on Laboratory Co. of America from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Finally, Credit Suisse Group reduced their price objective on Laboratory Co. of America to $308.00 in a report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $269.13.

Laboratory Co. of America Trading Down 1.2 %

Shares of NYSE:LH opened at $230.18 on Monday. Laboratory Co. of America Holdings has a 12-month low of $200.32 and a 12-month high of $317.17. The business’s fifty day simple moving average is $220.74 and its 200-day simple moving average is $234.67. The company has a market capitalization of $20.39 billion, a PE ratio of 12.28 and a beta of 1.06. The company has a current ratio of 1.73, a quick ratio of 1.55 and a debt-to-equity ratio of 0.54.

Laboratory Co. of America (NYSE:LHGet Rating) last announced its earnings results on Thursday, October 27th. The medical research company reported $4.68 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.01. Laboratory Co. of America had a return on equity of 20.33% and a net margin of 11.51%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the previous year, the business earned $6.82 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, equities research analysts predict that Laboratory Co. of America Holdings will post 19.87 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 17th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.88 annualized dividend and a yield of 1.25%. Laboratory Co. of America’s dividend payout ratio (DPR) is 15.36%.

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).

Further Reading

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

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