877 Shares in Laboratory Co. of America Holdings (NYSE:LH) Purchased by Power Corp of Canada

Power Corp of Canada acquired a new position in Laboratory Co. of America Holdings (NYSE:LH – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 877 shares of the medical research company’s stock, valued at approximately $180,000.

Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Laboratory Co. of America by 2.3% in the 3rd quarter. BlackRock Inc. now owns 11,436,397 shares of the medical research company’s stock worth $2,342,288,000 after acquiring an additional 252,118 shares in the last quarter. Vanguard Group Inc. increased its position in Laboratory Co. of America by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock worth $2,863,118,000 after purchasing an additional 106,063 shares during the last quarter. JPMorgan Chase & Co. increased its position in Laboratory Co. of America by 45.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,904,199 shares of the medical research company’s stock worth $446,269,000 after purchasing an additional 598,645 shares during the last quarter. FMR LLC increased its position in Laboratory Co. of America by 3.6% in the 2nd quarter. FMR LLC now owns 1,365,964 shares of the medical research company’s stock worth $320,128,000 after purchasing an additional 47,502 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Laboratory Co. of America by 1.0% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,217,674 shares of the medical research company’s stock worth $249,392,000 after purchasing an additional 12,157 shares during the last quarter. 89.70% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

LH opened at $219.22 on Thursday. The firm has a market capitalization of $19.40 billion, a P/E ratio of 15.82 and a beta of 1.06. The stock’s 50 day moving average price is $244.87 and its two-hundred day moving average price is $233.00. The company has a quick ratio of 1.35, a current ratio of 1.50 and a debt-to-equity ratio of 0.51. Laboratory Co. of America Holdings has a 12-month low of $200.32 and a 12-month high of $281.22.

Laboratory Co. of America (NYSE:LH – Get Rating) last released its earnings results on Thursday, February 16th. The medical research company reported $4.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.06 by $0.08. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.74 billion. Laboratory Co. of America had a return on equity of 17.68% and a net margin of 8.60%. The company’s revenue was down 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 17.18 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date was Wednesday, February 22nd. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 20.78%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial upped their target price on Laboratory Co. of America from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Citigroup upped their target price on Laboratory Co. of America from $250.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. StockNews.com started coverage on Laboratory Co. of America in a report on Thursday. They set a “hold” rating on the stock. Credit Suisse Group lowered their price objective on Laboratory Co. of America from $304.00 to $288.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Morgan Stanley increased their price objective on Laboratory Co. of America from $290.00 to $303.00 and gave the company an “overweight” rating in a report on Friday, January 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.50.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Paul R. Kirchgraber sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $250.58, for a total value of $2,004,640.00. Following the completion of the sale, the chief executive officer now owns 9,069 shares in the company, valued at approximately $2,272,510.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Laboratory Co. of America news, CEO Paul R. Kirchgraber sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $250.58, for a total value of $2,004,640.00. Following the completion of the sale, the chief executive officer now owns 9,069 shares in the company, valued at approximately $2,272,510.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark S. Schroeder sold 309 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $247.63, for a total value of $76,517.67. Following the completion of the sale, the executive vice president now owns 6,687 shares of the company’s stock, valued at approximately $1,655,901.81. The disclosure for this sale can be found here. Insiders have sold 8,701 shares of company stock valued at $2,178,302 in the last 90 days. 0.31% of the stock is currently owned by insiders.

About Laboratory Co. of America

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.