Cibc World Markets Corp Purchases 6,132 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Cibc World Markets Corp boosted its position in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 125.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,022 shares of the medical research company’s stock after purchasing an additional 6,132 shares during the period. Cibc World Markets Corp’s holdings in Laboratory Co. of America were worth $2,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its position in shares of Laboratory Co. of America by 1,715.7% during the fourth quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock valued at $39,814,000 after acquiring an additional 165,528 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Laboratory Co. of America by 6.9% during the 4th quarter. Allianz Asset Management GmbH now owns 63,639 shares of the medical research company’s stock worth $14,465,000 after purchasing an additional 4,103 shares during the period. Alexander Randolph Advisory Inc. bought a new stake in shares of Laboratory Co. of America during the 4th quarter worth $942,000. Handelsinvest Investeringsforvaltning bought a new position in Laboratory Co. of America during the fourth quarter valued at about $1,091,000. Finally, Cerity Partners LLC increased its holdings in Laboratory Co. of America by 8.6% during the fourth quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after buying an additional 5,105 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. TheStreet downgraded Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Barclays decreased their target price on 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. dropped their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.86.

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

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $196.60 on Friday. The firm 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. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $203.61 and its two-hundred day simple moving average is $214.30. Laboratory Co. of America Holdings has a twelve month low of $180.81 and a twelve month high of $234.09.

Laboratory Co. of America (NYSE:LHGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.12 billion. During the same period in the prior year, the business earned $3.82 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal 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 issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Insider Buying and Selling

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the sale, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 3,553 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $216.74, for a total transaction of $770,077.22. Following the transaction, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the sale, the director now directly owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,469 shares of company stock worth $3,959,058. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

(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).

Featured Stories

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Co. of America Holdings (NYSE:LHFree Report).

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

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.