Pacer Advisors Inc. increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 16.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,598 shares of the medical research company's stock after purchasing an additional 2,705 shares during the quarter. Pacer Advisors Inc.'s holdings in Laboratory Co. of America were worth $3,988,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in Laboratory Co. of America by 135.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company's stock worth $327,616,000 after acquiring an additional 924,881 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company's stock valued at $352,563,000 after buying an additional 597,571 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Laboratory Co. of America by 25.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company's stock valued at $396,771,000 after buying an additional 395,197 shares during the last quarter. Veritas Investment Partners UK Ltd. boosted its holdings in shares of Laboratory Co. of America by 32.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company's stock valued at $259,133,000 after buying an additional 279,628 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Laboratory Co. of America by 2,750.2% in the 4th quarter. Public Sector Pension Investment Board now owns 270,483 shares of the medical research company's stock valued at $61,478,000 after buying an additional 260,993 shares during the last quarter. 95.94% of the stock is owned by institutional investors.
Laboratory Co. of America Price Performance
Shares of NYSE LH traded down $1.99 during mid-day trading on Wednesday, reaching $218.61. The company had a trading volume of 453,993 shares, compared to its average volume of 681,181. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $238.46. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 1.74 and a beta of 1.06. The business's 50-day simple moving average is $223.17 and its 200 day simple moving average is $211.56.
Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.16. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. Laboratory Co. of America's revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $3.42 earnings per share. On average, research analysts predict that Laboratory Co. of America Holdings will post 14.61 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, September 13th. Investors of record on Thursday, August 29th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, August 29th. Laboratory Co. of America's dividend payout ratio (DPR) is presently 57.95%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on LH shares. Robert W. Baird increased their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the company an "outperform" rating in a report on Friday, September 20th. Bank of America increased their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "buy" rating in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their price target on Laboratory Co. of America from $261.00 to $243.00 and set an "overweight" rating on the stock in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group increased their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Monday. Three 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.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.50.
Get Our Latest Stock Analysis on LH
Insider Activity at Laboratory Co. of America
In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company's stock, valued at $7,008,423.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company's stock, valued at $7,008,423.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the sale, the director now directly owns 14,722 shares in the company, valued at $3,312,450. The disclosure for this sale can be found here. Insiders have sold 29,679 shares of company stock valued at $6,716,306 over the last ninety days. 0.85% of the stock is owned by corporate insiders.
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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