Merit Financial Group LLC Has $261,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

Merit Financial Group LLC raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,148 shares of the medical research company’s stock after acquiring an additional 105 shares during the quarter. Merit Financial Group LLC’s holdings in Laboratory Co. of America were worth $261,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in Laboratory Co. of America by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after purchasing an additional 1,237 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings 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 worth $1,711,000 after acquiring an additional 484 shares during the last quarter. Alexander Randolph Advisory Inc. acquired a new stake in Laboratory Co. of America in the 4th quarter valued at about $942,000. Handelsinvest Investeringsforvaltning bought a new position in shares of Laboratory Co. of America in the fourth quarter worth about $1,091,000. Finally, Cerity Partners LLC lifted its position in shares of Laboratory Co. of America by 8.6% during the fourth quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after purchasing an additional 5,105 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 2.2 %

LH opened at $206.09 on Friday. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The firm has a market cap of $17.37 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The firm’s fifty day moving average is $209.09 and its two-hundred day moving average is $214.74.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company posted $3.82 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, May 28th. Laboratory Co. of America’s payout ratio is currently 57.95%.

Insider Activity

In related news, Director Kerrii B. Anderson sold 250 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total transaction of $50,025.00. Following the sale, the director now directly owns 15,722 shares in the company, valued at $3,145,972.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the sale, the director now directly owns 15,722 shares in the company, valued at approximately $3,145,972.20. The disclosure for this sale can be found here. Insiders sold 56,985 shares of company stock worth $12,302,964 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LH shares. Robert W. Baird dropped their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. SVB Leerink began coverage on Laboratory Co. of America in a research note on Monday, February 26th. They set an “outperform” rating and a $260.00 price target on the stock. Truist Financial lowered their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Finally, Barclays lowered their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

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).