Belpointe Asset Management LLC Purchases Shares of 892 Laboratory Co. of America Holdings (NYSE:LH)

Belpointe Asset Management LLC acquired a new position in Laboratory Co. of America Holdings (NYSE:LHFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 892 shares of the medical research company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Laboratory Co. of America during the 4th quarter valued at approximately $291,045,000. Morgan Stanley grew its stake in Laboratory Co. of America by 102.6% in the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after purchasing an additional 1,123,755 shares during the period. Lazard Asset Management LLC grew its stake in Laboratory Co. of America by 28.0% in the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after purchasing an additional 483,878 shares during the period. Ameriprise Financial Inc. lifted its position in Laboratory Co. of America by 536.0% during the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock valued at $108,653,000 after buying an additional 455,462 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Laboratory Co. of America by 20.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after buying an additional 424,684 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH opened at $196.60 on Friday. The company’s 50-day simple moving average is $203.61 and its two-hundred day simple moving average is $214.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The stock has a market capitalization of $16.57 billion, a P/E ratio of 39.56, a P/E/G ratio of 1.48 and a beta of 1.04. Laboratory Co. of America Holdings has a 52-week low of $180.81 and a 52-week high of $234.09.

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

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In other news, COO Mark S. Schroeder sold 6,477 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the completion of the sale, the chief operating officer now owns 5,036 shares of the company’s stock, valued at approximately $1,094,272.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 3,553 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $216.74, for a total transaction of $770,077.22. Following the completion of the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,655,243.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mark S. Schroeder sold 6,477 shares of Laboratory Co. of America stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the transaction, the chief operating officer now directly owns 5,036 shares in the company, valued at $1,094,272.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,469 shares of company stock valued at $3,959,058. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LH. SVB Leerink initiated coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an “outperform” rating and a $260.00 price target for the company. Truist Financial lowered their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday, April 26th. Barclays cut their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $241.86.

Check Out Our Latest Research Report on Laboratory Co. of America

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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