Cibc World Market Inc. Acquires 255 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Cibc World Market Inc. increased its position in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 31.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,063 shares of the medical research company’s stock after purchasing an additional 255 shares during the period. Cibc World Market Inc.’s holdings in Laboratory Co. of America were worth $249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Laboratory Co. of America by 15.7% in the 1st quarter. BlackRock Inc. now owns 9,576,779 shares of the medical research company’s stock worth $2,525,014,000 after buying an additional 1,302,369 shares during the last quarter. Bank of America Corp DE increased its position in Laboratory Co. of America by 16.7% during the first quarter. Bank of America Corp DE now owns 1,778,329 shares of the medical research company’s stock valued at $468,873,000 after acquiring an additional 253,972 shares during the last quarter. Cooke & Bieler LP grew its position in Laboratory Co. of America by 53.1% during the second quarter. Cooke & Bieler LP now owns 555,096 shares of the medical research company’s stock valued at $130,092,000 after buying an additional 192,637 shares during the period. California Public Employees Retirement System lifted its position in Laboratory Co. of America by 77.7% during the second quarter. California Public Employees Retirement System now owns 344,787 shares of the medical research company’s stock valued at $80,804,000 after purchasing an additional 150,750 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Laboratory Co. of America by 1,319.4% in the first quarter. Jupiter Asset Management Ltd. now owns 154,336 shares of the medical research company’s stock worth $40,691,000 after buying an additional 143,463 shares during the period. 88.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Laboratory Co. of America Stock Up 0.7 %

LH opened at $238.29 on Thursday. The stock has a market capitalization of $21.11 billion, a P/E ratio of 12.71 and a beta of 1.06. Laboratory Co. of America Holdings has a one year low of $200.32 and a one year high of $317.17. The business’s 50-day simple moving average is $220.80 and its 200-day simple moving average is $234.46. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.55 and a current ratio of 1.73.

Laboratory Co. of America (NYSE:LHGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The medical research company reported $4.68 EPS 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 business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the previous year, the company earned $6.82 EPS. The company’s quarterly revenue was down 11.2% on a year-over-year basis. Analysts anticipate that Laboratory Co. of America Holdings will post 19.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.21%. Laboratory Co. of America’s payout ratio is 15.36%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. William Blair restated an “outperform” rating on shares of Laboratory Co. of America in a report on Thursday, October 27th. Mizuho dropped their price objective on Laboratory Co. of America from $296.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, November 3rd. Credit Suisse Group decreased their target price on Laboratory Co. of America from $308.00 to $305.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Robert W. Baird decreased their target price on Laboratory Co. of America from $297.00 to $270.00 in a research report on Friday, October 28th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $268.75.

About Laboratory Co. of America

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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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