Laboratory Co. of America Holdings (NYSE:LH) CEO Paul R. Kirchgraber Sells 4,300 Shares of Stock

Laboratory Co. of America Holdings (NYSE:LH – Get Rating) CEO Paul R. Kirchgraber sold 4,300 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $216.91, for a total value of $932,713.00. Following the sale, the chief executive officer now owns 12,946 shares of the company’s stock, valued at $2,808,116.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Laboratory Co. of America Stock Up 0.1 %

LH stock opened at $218.89 on Wednesday. Laboratory Co. of America Holdings has a twelve month low of $200.32 and a twelve month high of $263.13. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 0.50. The firm has a market cap of $19.39 billion, a PE ratio of 19.86 and a beta of 1.04. The business has a 50 day moving average of $224.44 and a 200 day moving average of $235.06.

Laboratory Co. of America (NYSE:LH – Get Rating) last issued its earnings results on Tuesday, April 25th. The medical research company reported $3.82 EPS for the quarter, missing the consensus estimate of $3.99 by ($0.17). The business had revenue of $3.78 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Laboratory Co. of America had a net margin of 6.78% and a return on equity of 15.56%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.11 earnings per share. On average, research analysts forecast that Laboratory Co. of America Holdings will post 16.83 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.88 annualized dividend and a yield of 1.32%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 26.13%.

Hedge Funds Weigh In On Laboratory Co. of America

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Old North State Trust LLC lifted its position in Laboratory Co. of America by 429.3% during the first quarter. Old North State Trust LLC now owns 921 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 747 shares in the last quarter. 3Chopt Investment Partners LLC bought a new stake in Laboratory Co. of America during the first quarter valued at about $1,861,000. Raleigh Capital Management Inc. raised its holdings in Laboratory Co. of America by 38.7% during the first quarter. Raleigh Capital Management Inc. now owns 215 shares of the medical research company’s stock valued at $49,000 after acquiring an additional 60 shares during the period. Arete Wealth Advisors LLC bought a new stake in Laboratory Co. of America during the first quarter valued at about $658,000. Finally, Advisory Services Network LLC raised its holdings in Laboratory Co. of America by 0.6% during the first quarter. Advisory Services Network LLC now owns 17,079 shares of the medical research company’s stock valued at $3,918,000 after acquiring an additional 100 shares during the period. 89.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LH has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Laboratory Co. of America from $265.00 to $240.00 in a report on Wednesday, April 26th. Robert W. Baird increased their target price on Laboratory Co. of America to $300.00 and gave the company an “outperform” rating in a report on Friday, February 17th. Wells Fargo & Company dropped their target price on Laboratory Co. of America from $315.00 to $290.00 and set an “overweight” rating for the company in a report on Tuesday, February 21st. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, May 12th. Finally, Credit Suisse Group lowered their price target on Laboratory Co. of America from $304.00 to $288.00 and set an “outperform” rating for the company in a research report on Monday, March 13th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $273.50.

About Laboratory Co. of America

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Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.