Parallel Advisors LLC Has $387,000 Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Parallel Advisors LLC reduced its holdings in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,702 shares of the medical research company’s stock after selling 159 shares during the period. Parallel Advisors LLC’s holdings in Laboratory Co. of America were worth $387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Provence Wealth Management Group purchased a new position in shares of Laboratory Co. of America during the 3rd quarter valued at $29,000. Mendota Financial Group LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter valued at about $60,000. Disciplined Equity Management Inc. acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth $68,000. Finally, Oakworth Capital Inc. raised its holdings in Laboratory Co. of America by 48.1% in the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction 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 directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $204.13, for a total transaction of $51,032.50. Following the transaction, the director now directly owns 15,972 shares of the company’s stock, valued at $3,260,364.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,744 shares of company stock valued at $5,111,382. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LH. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Barclays dropped their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research note on Thursday. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Finally, Evercore ISI started coverage on Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $241.86.

View Our Latest Stock Report on Laboratory Co. of America

Laboratory Co. of America Trading Up 0.8 %

NYSE LH opened at $194.91 on Friday. The stock has a market capitalization of $16.43 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 1.46 and a beta of 1.02. Laboratory Co. of America Holdings has a 52 week low of $174.20 and a 52 week high of $234.09. The stock’s 50 day moving average price is $205.53 and its two-hundred day moving average price is $214.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LHGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.82 EPS. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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 issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is presently 57.95%.

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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