Meridian Financial Partners LLC Has $1.02 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Meridian Financial Partners LLC grew its position in Laboratory Co. of America Holdings (NYSE:LH) by 1.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,049 shares of the medical research company’s stock after buying an additional 56 shares during the period. Laboratory Co. of America accounts for approximately 1.3% of Meridian Financial Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Meridian Financial Partners LLC’s holdings in Laboratory Co. of America were worth $1,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mendota Financial Group LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth $29,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth $60,000. Disciplined Equity Management Inc. acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth $68,000. Oakworth Capital Inc. grew its stake in Laboratory Co. of America by 48.1% in the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 100 shares during the period. Finally, Planned Solutions Inc. acquired a new position in Laboratory Co. of America in the fourth quarter valued at about $76,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the sale, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Mark S. Schroeder sold 6,477 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the transaction, the chief operating officer now owns 5,036 shares in the company, valued at $1,094,272.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Peter J. Wilkinson sold 2,439 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,087 shares in the company, valued at approximately $426,436.71. The disclosure for this sale can be found here. Insiders sold a total of 14,916 shares of company stock valued at $3,188,981 over the last three months. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH traded down $1.39 on Friday, hitting $203.51. The company’s stock had a trading volume of 712,464 shares, compared to its average volume of 643,284. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $234.09. The firm has a market capitalization of $17.16 billion, a P/E ratio of 40.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The stock has a fifty day moving average of $202.25 and a two-hundred day moving average of $212.93. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) 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 company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm posted $3.82 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Research analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were given a $0.72 dividend. The ex-dividend date was Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.42%. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Argus raised 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 note on Monday, March 25th. 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 note on Friday, April 26th. JPMorgan Chase & Co. cut their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Truist Financial cut their price target 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. Finally, Robert W. Baird cut their price target on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.86.

About Laboratory Co. of America

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).