CX Institutional Raises Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

CX Institutional lifted its position in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 7,117.1% during the third quarter, Holdings Channel reports. The institutional investor owned 10,104 shares of the medical research company’s stock after buying an additional 9,964 shares during the quarter. CX Institutional’s holdings in Laboratory Co. of America were worth $2,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Foster & Motley Inc. grew its position in Laboratory Co. of America by 32.2% during the 3rd quarter. Foster & Motley Inc. now owns 8,334 shares of the medical research company’s stock worth $1,707,000 after purchasing an additional 2,030 shares during the last quarter. Ieq Capital LLC grew its position in Laboratory Co. of America by 26.4% during the 3rd quarter. Ieq Capital LLC now owns 14,363 shares of the medical research company’s stock worth $2,942,000 after purchasing an additional 3,004 shares during the last quarter. First Republic Investment Management Inc. grew its position in Laboratory Co. of America by 1.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 15,801 shares of the medical research company’s stock worth $3,236,000 after purchasing an additional 285 shares during the last quarter. CIBC Asset Management Inc grew its position in Laboratory Co. of America by 5.6% during the 3rd quarter. CIBC Asset Management Inc now owns 12,501 shares of the medical research company’s stock worth $2,560,000 after purchasing an additional 667 shares during the last quarter. Finally, Creative Planning grew its position in Laboratory Co. of America by 2.4% during the 3rd quarter. Creative Planning now owns 7,743 shares of the medical research company’s stock worth $1,586,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 89.70% of the company’s stock.

Laboratory Co. of America Stock Performance

LH opened at $253.99 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.73 and a quick ratio of 1.55. The firm has a fifty day moving average price of $239.15 and a 200 day moving average price of $234.41. Laboratory Co. of America Holdings has a 1 year low of $200.32 and a 1 year high of $290.20. The stock has a market cap of $22.50 billion, a P/E ratio of 13.55 and a beta of 1.05.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its earnings results on Thursday, October 27th. The medical research company reported $4.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.71 by ($0.03). Laboratory Co. of America had a net margin of 11.51% and a return on equity of 20.33%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the firm earned $6.82 earnings per share. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. Equities research analysts anticipate that Laboratory Co. of America Holdings will post 19.83 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 13th. Shareholders of record on Thursday, February 23rd will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, February 22nd. Laboratory Co. of America’s dividend payout ratio is presently 15.36%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LH. Citigroup downgraded shares of Laboratory Co. of America from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $275.00 to $250.00 in a research report on Monday, December 12th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Mizuho dropped their price objective on shares of Laboratory Co. of America from $296.00 to $250.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Truist Financial dropped their price objective on shares of Laboratory Co. of America from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a report on Thursday, October 27th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.13.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 1,116 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $232.67, for a total transaction of $259,659.72. Following the completion of the transaction, the executive vice president now directly owns 6,687 shares in the company, valued at $1,555,864.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by company insiders.

About Laboratory Co. of America

(Get Rating)

Laboratory Corporation of America Holdings operates as a global 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 Labcorp Drug Development (DD).

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:LHGet Rating).

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.