Franklin Resources Inc. Purchases 4,468 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Franklin Resources Inc. increased its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 27.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,837 shares of the medical research company's stock after buying an additional 4,468 shares during the quarter. Franklin Resources Inc.'s holdings in Laboratory Co. of America were worth $4,519,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LH. Harbour Investments Inc. purchased a new position in shares of Laboratory Co. of America during the second quarter valued at $260,000. HB Wealth Management LLC increased its holdings in shares of Laboratory Co. of America by 5.6% in the 2nd quarter. HB Wealth Management LLC now owns 2,357 shares of the medical research company's stock valued at $480,000 after purchasing an additional 124 shares during the period. Cambiar Investors LLC lifted its position in shares of Laboratory Co. of America by 15.9% in the second quarter. Cambiar Investors LLC now owns 280,163 shares of the medical research company's stock worth $57,016,000 after purchasing an additional 38,414 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America in the second quarter worth approximately $32,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America during the second quarter valued at approximately $27,000. Institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Up 0.7 %

Shares of LH traded up $1.65 on Tuesday, reaching $229.49. The company's stock had a trading volume of 144,095 shares, compared to its average volume of 656,923. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. The stock has a market capitalization of $19.19 billion, a PE ratio of 44.39, a PEG ratio of 1.91 and a beta of 1.05. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average of $232.35 and a 200-day moving average of $221.92.

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

Laboratory Co. of America Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LH shares. StockNews.com downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Barclays upped their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Morgan Stanley lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Finally, Bank of America upped their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America currently has an average rating of "Moderate Buy" and a consensus target price of $258.62.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares of the company's stock, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company's stock, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,572 shares of company stock valued at $5,910,209 over the last three months. 0.85% of the stock is currently owned by insiders.

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.