International Assets Investment Management LLC Purchases Shares of 25,684 Laboratory Co. of America Holdings (NYSE:LH)

International Assets Investment Management LLC acquired a new position in Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 25,684 shares of the medical research company’s stock, valued at approximately $5,838,000.

Other hedge funds have also recently made changes to their positions in the company. Bleakley Financial Group LLC boosted its holdings in Laboratory Co. of America by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,310 shares of the medical research company’s stock valued at $525,000 after acquiring an additional 64 shares in the last quarter. Equitable Trust Co. lifted its position in shares of Laboratory Co. of America by 15.2% in the 4th quarter. Equitable Trust Co. now owns 131,242 shares of the medical research company’s stock worth $29,830,000 after purchasing an additional 17,298 shares during the period. Tritonpoint Wealth LLC bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at about $2,635,000. Alpine Woods Capital Investors LLC raised its stake in Laboratory Co. of America by 0.3% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 22,998 shares of the medical research company’s stock worth $5,227,000 after buying an additional 70 shares in the last quarter. Finally, Tempus Wealth Planning LLC lifted its holdings in Laboratory Co. of America by 9.0% in the fourth quarter. Tempus Wealth Planning LLC now owns 1,484 shares of the medical research company’s stock worth $337,000 after buying an additional 122 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,729,398.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,695,872.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the company’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 in the company, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,244 shares of company stock valued at $12,360,478. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Price Performance

NYSE LH opened at $201.50 on Wednesday. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The stock has a market capitalization of $16.99 billion, a price-to-earnings ratio of 40.54, a PEG ratio of 1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The business’s fifty day moving average price is $209.55 and its 200-day moving average price is $214.89.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company earned $3.82 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s payout ratio is currently 57.95%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TheStreet lowered Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Evercore ISI started coverage on Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective for the company. Truist Financial reduced their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Finally, SVB Leerink initiated coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

About Laboratory Co. of America

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).