Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 27.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,219 shares of the medical research company’s stock after acquiring an additional 11,917 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Laboratory Co. of America worth $12,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in Laboratory Co. of America by 54.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 135,161 shares of the medical research company’s stock valued at $29,527,000 after buying an additional 47,744 shares during the last quarter. Concord Wealth Partners lifted its holdings in shares of Laboratory Co. of America by 50.3% in the 1st quarter. Concord Wealth Partners now owns 275 shares of the medical research company’s stock valued at $60,000 after buying an additional 92 shares during the period. Mill Capital Management LLC lifted its holdings in shares of Laboratory Co. of America by 0.4% in the 1st quarter. Mill Capital Management LLC now owns 62,809 shares of the medical research company’s stock valued at $13,721,000 after buying an additional 280 shares during the period. Caprock Group LLC lifted its holdings in shares of Laboratory Co. of America by 2.2% in the 1st quarter. Caprock Group LLC now owns 3,151 shares of the medical research company’s stock valued at $688,000 after buying an additional 67 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Laboratory Co. of America by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 97,959 shares of the medical research company’s stock valued at $21,400,000 after buying an additional 1,535 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH opened at $204.58 on Monday. The business’s 50 day moving average is $202.31 and its two-hundred day moving average is $212.25. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $234.09. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 1.54 and a beta of 1.05. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

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 for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $3.82 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.41%. Laboratory Co. of America’s payout ratio is currently 57.95%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LH. JPMorgan Chase & Co. reduced their price target on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Truist Financial lowered their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research report on Monday, March 25th. Finally, Barclays cut their price objective 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. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $241.86.

Check Out Our Latest Stock Report on LH

Insider Buying and Selling

In related news, CAO Peter J. Wilkinson sold 2,439 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $204.33, for a total transaction of $498,360.87. Following the completion of the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at approximately $426,436.71. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Peter J. Wilkinson sold 2,439 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the transaction, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at approximately $426,436.71. The disclosure for this sale can be found here. Insiders sold a total of 4,939 shares of company stock worth $1,021,078 in the last three months. 0.85% of the stock is owned by insiders.

Laboratory Co. of America 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).

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

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