Pallas Capital Advisors LLC Purchases New Position in Laboratory Co. of America Holdings (NYSE:LH)

Pallas Capital Advisors LLC bought a new position in Laboratory Co. of America Holdings (NYSE:LHFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,980 shares of the medical research company’s stock, valued at approximately $1,132,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Laboratory Co. of America by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock worth $2,863,118,000 after acquiring an additional 106,063 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Laboratory Co. of America by 20.6% in the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after acquiring an additional 424,684 shares during the last quarter. Morgan Stanley raised its stake in shares of Laboratory Co. of America by 102.6% in the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after acquiring an additional 1,123,755 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Laboratory Co. of America by 28.0% in the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after acquiring an additional 483,878 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Laboratory Co. of America by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 1,843,051 shares of the medical research company’s stock worth $421,878,000 after buying an additional 26,197 shares during the period. 95.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LH. Barclays began 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 objective for the company. TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a report on Monday, March 25th. SVB Leerink began coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target for the company. Finally, Evercore ISI began coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.50.

Check Out Our Latest Analysis on LH

Laboratory Co. of America Price Performance

Shares of LH opened at $216.35 on Tuesday. The firm has a market capitalization of $18.20 billion, a PE ratio of 46.33, a PEG ratio of 1.65 and a beta of 1.01. The company’s 50-day moving average is $218.76 and its 200-day moving average is $214.38. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02.

Laboratory Co. of America (NYSE:LHGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, beating the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the company posted $4.14 earnings per share. Laboratory Co. of America’s revenue was down 17.5% compared to the same quarter last year. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.77 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 27th were paid a dividend of $0.72 per share. The ex-dividend date was Monday, February 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.33%. Laboratory Co. of America’s payout ratio is 61.67%.

Insiders Place Their Bets

In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CMO Amy B. Summy sold 227 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the transaction, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at $842,998.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,553 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $216.74, for a total transaction of $770,077.22. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The disclosure for this sale can be found here. Insiders have sold 44,328 shares of company stock worth $9,593,157 over the last ninety days. Corporate insiders own 0.65% of the company’s stock.

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).

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

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