Canada Pension Plan Investment Board decreased its position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,606 shares of the medical research company’s stock after selling 1,100 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Laboratory Co. of America worth $13,178,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Roundview Capital LLC grew its position in Laboratory Co. of America by 1.6% in the 1st quarter. Roundview Capital LLC now owns 7,793 shares of the medical research company’s stock valued at $2,055,000 after buying an additional 124 shares during the last quarter. LSV Asset Management grew its position in Laboratory Co. of America by 1.2% in the 1st quarter. LSV Asset Management now owns 34,800 shares of the medical research company’s stock valued at $9,175,000 after buying an additional 400 shares during the last quarter. Synovus Financial Corp grew its position in Laboratory Co. of America by 105.7% in the 1st quarter. Synovus Financial Corp now owns 1,654 shares of the medical research company’s stock valued at $441,000 after buying an additional 850 shares during the last quarter. Cibc World Market Inc. purchased a new position in Laboratory Co. of America in the 1st quarter valued at $213,000. Finally, Sei Investments Co. grew its position in Laboratory Co. of America by 18.9% in the 1st quarter. Sei Investments Co. now owns 89,167 shares of the medical research company’s stock valued at $23,543,000 after buying an additional 14,186 shares during the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.
Analyst Ratings Changes
LH has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and issued a $270.00 price objective on shares of Laboratory Co. of America in a research report on Friday, September 15th. Mizuho reduced their target price on Laboratory Co. of America from $257.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Morgan Stanley cut their price target on Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. HSBC assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, September 6th. They issued a “hold” rating and a $210.00 target price for the company. Finally, TheStreet cut Laboratory Co. of America from a “b-” rating to a “c” rating in a report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $242.09.
Laboratory Co. of America Stock Up 0.9 %
LH opened at $209.92 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.36 and a quick ratio of 1.20. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $222.33. The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of 28.06 and a beta of 1.07. The business has a 50-day moving average of $202.99 and a two-hundred day moving average of $213.07.
Laboratory Co. of America (NYSE:LH – Get Free Report) last issued its earnings results on Thursday, October 26th. The medical research company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.37 by $0.01. Laboratory Co. of America had a return on equity of 14.09% and a net margin of 4.88%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the business earned $4.68 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, research analysts expect that Laboratory Co. of America Holdings will post 13.58 earnings per share for the current year.
Laboratory Co. of America Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 8th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, November 7th. Laboratory Co. of America’s dividend payout ratio is presently 38.50%.
Laboratory Co. of America Company Profile
Laboratory Corporation of America Holdings operates as a 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 and Labcorp Drug Development.
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