Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,490 shares of the medical research company’s stock after purchasing an additional 1,034 shares during the period. Public Sector Pension Investment Board’s holdings in Laboratory Co. of America were worth $1,908,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Provence Wealth Management Group acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $29,000. Tradewinds Capital Management LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $34,000. Exchange Traded Concepts LLC bought a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $37,000. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $43,000. 89.37% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,695,872.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,695,872.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Mark S. Schroeder sold 5,048 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the sale, the chief operating officer now directly owns 5,036 shares in the company, valued at approximately $1,100,114.20. The disclosure for this sale can be found here. Insiders sold 40,775 shares of company stock worth $8,823,080 in the last quarter. 0.65% of the stock is owned by corporate insiders.

Laboratory Co. of America Trading Up 0.7 %

Shares of LH stock opened at $210.97 on Wednesday. Laboratory Co. of America Holdings has a 52-week low of $174.20 and a 52-week high of $234.09. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 45.18, a P/E/G ratio of 1.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a fifty day moving average of $220.34 and a 200-day moving average of $213.80.

Laboratory Co. of America (NYSE:LHGet Free Report) last announced its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the company posted $4.14 EPS. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.77 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, February 26th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 61.67%.

Analyst Upgrades and Downgrades

LH has been the topic of a number of recent analyst reports. Evercore ISI initiated coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They set an “in-line” rating and a $240.00 price target on the stock. TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Barclays initiated coverage on shares of Laboratory Co. of America in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Finally, SVB Leerink initiated coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $243.07.

Check Out Our Latest Stock Analysis on LH

Laboratory Co. of America Company Profile

(Free Report)

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 (Dx) and Biopharma Laboratory Services (BLS).

Further Reading

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

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