Cooke & Bieler LP Sells 17,371 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Cooke & Bieler LP reduced its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 672,345 shares of the medical research company’s stock after selling 17,371 shares during the quarter. Laboratory Co. of America accounts for about 1.3% of Cooke & Bieler LP’s investment portfolio, making the stock its 28th biggest holding. Cooke & Bieler LP owned 0.79% of Laboratory Co. of America worth $152,817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its stake in Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock valued at $5,097,000 after purchasing an additional 1,237 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Laboratory Co. of America by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock valued at $1,711,000 after purchasing an additional 484 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new stake in Laboratory Co. of America during the 4th quarter valued at about $1,091,000. Cerity Partners LLC increased its stake in Laboratory Co. of America by 8.6% during the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock valued at $14,645,000 after purchasing an additional 5,105 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Laboratory Co. of America by 77.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 56,461 shares of the medical research company’s stock valued at $11,351,000 after purchasing an additional 24,558 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have 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 target on the stock. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Monday, March 25th. Evercore ISI began 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. SVB Leerink began 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. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.50.

Laboratory Co. of America Price Performance

NYSE LH opened at $201.48 on Friday. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 1.51 and a beta of 1.01. The company’s 50 day moving average is $213.74 and its two-hundred day moving average is $214.70. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the business earned $4.14 EPS. The firm’s revenue was down 17.5% compared to the same quarter last year. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is 61.67%.

Insiders Place Their Bets

In other news, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares in the company, valued at $863,727.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares in the company, valued at approximately $863,727.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,305 shares of company stock worth $11,761,059. Company insiders own 0.85% of the company’s stock.

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 (Dx) and Biopharma Laboratory Services (BLS).