State of Alaska Department of Revenue Boosts Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

State of Alaska Department of Revenue grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,212 shares of the medical research company’s stock after buying an additional 785 shares during the period. State of Alaska Department of Revenue’s holdings in Laboratory Co. of America were worth $5,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Laboratory Co. of America by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock valued at $2,863,118,000 after purchasing an additional 106,063 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Laboratory Co. of America by 20.6% in the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after acquiring an additional 424,684 shares during the period. Morgan Stanley grew its position in shares of Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after acquiring an additional 1,123,755 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Laboratory Co. of America by 28.0% in the 3rd quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock valued at $444,821,000 after acquiring an additional 483,878 shares during the period. Finally, Geode Capital Management LLC raised its position in Laboratory Co. of America by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 1,843,051 shares of the medical research company’s stock valued at $421,878,000 after purchasing an additional 26,197 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on LH. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 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 objective for the company. Evercore ISI began coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price on the stock. Barclays assumed coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price on the stock. Finally, Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Monday, March 25th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.50.

Read Our Latest Stock Analysis on Laboratory Co. of America

Insider Buying and Selling

In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the transaction, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America 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 sale, the chief marketing officer now owns 3,859 shares in the company, valued at $842,998.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The disclosure for this sale can be found here. In the last three months, insiders sold 44,328 shares of company stock valued at $9,593,157. Company insiders own 0.65% of the company’s stock.

Laboratory Co. of America Stock Up 0.9 %

Shares of NYSE:LH opened at $218.46 on Monday. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The stock’s 50-day moving average price is $218.76 and its two-hundred day moving average price is $214.32. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market cap of $18.37 billion, a price-to-earnings ratio of 46.78, a PEG ratio of 1.65 and a beta of 1.02.

Laboratory Co. of America (NYSE:LHGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the company earned $4.14 EPS. The business’s quarterly revenue was down 17.5% compared to the same quarter last year. On average, research analysts forecast that Laboratory Co. of America Holdings will post 14.77 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 27th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.32%. Laboratory Co. of America’s payout ratio is 61.67%.

About Laboratory Co. of America

(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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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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