JPMorgan Chase & Co. Has $431.41 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

JPMorgan Chase & Co. boosted its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,930,395 shares of the medical research company's stock after buying an additional 167,137 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.31% of Laboratory Co. of America worth $431,405,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Laboratory Co. of America by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company's stock worth $21,587,000 after purchasing an additional 2,595 shares in the last quarter. Beaird Harris Wealth Management LLC bought a new position in Laboratory Co. of America during the third quarter valued at approximately $55,000. Franklin Resources Inc. lifted its stake in Laboratory Co. of America by 27.3% in the third quarter. Franklin Resources Inc. now owns 20,837 shares of the medical research company's stock valued at $4,519,000 after acquiring an additional 4,468 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in Laboratory Co. of America by 0.5% in the third quarter. Peapack Gladstone Financial Corp now owns 92,930 shares of the medical research company's stock worth $20,768,000 after acquiring an additional 484 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in shares of Laboratory Co. of America by 34.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 25,847 shares of the medical research company's stock worth $5,776,000 after purchasing an additional 6,651 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of LH traded down $0.63 during trading hours on Friday, reaching $230.43. 339,836 shares of the company traded hands, compared to its average volume of 654,750. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The stock's fifty day moving average is $233.47 and its 200 day moving average is $222.87. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. The stock has a market cap of $19.27 billion, a P/E ratio of 44.57, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.38 EPS. Equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend was Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio is 55.71%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $239.42, for a total value of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares in the company, valued at $639,251.40. This represents a 27.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,572 shares of company stock valued at $5,910,209. Company insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a report on Tuesday, December 10th. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. Evercore ISI decreased their target price on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, September 24th. Finally, Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $258.62.

About Laboratory Co. of America

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.