BNP Paribas Arbitrage SA Acquires 6,347 Shares of Laboratory Co. of America Holdings (NYSE:LH)

BNP Paribas Arbitrage SA boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,836 shares of the medical research company’s stock after purchasing an additional 6,347 shares during the period. BNP Paribas Arbitrage SA owned about 0.06% of Laboratory Co. of America worth $16,602,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Laboratory Co. of America by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,835,046 shares of the medical research company’s stock worth $515,142,000 after buying an additional 59,057 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Laboratory Co. of America by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,591,004 shares of the medical research company’s stock valued at $447,843,000 after purchasing an additional 34,864 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Laboratory Co. of America by 1.5% during the fourth quarter. Northern Trust Corp now owns 1,176,755 shares of the medical research company’s stock valued at $369,749,000 after purchasing an additional 17,820 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Laboratory Co. of America by 8.3% during the third quarter. Bank of New York Mellon Corp now owns 1,141,093 shares of the medical research company’s stock valued at $321,147,000 after purchasing an additional 87,162 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Laboratory Co. of America by 4.3% during the fourth quarter. First Trust Advisors LP now owns 841,586 shares of the medical research company’s stock valued at $264,435,000 after purchasing an additional 34,890 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on LH. Wells Fargo & Company dropped their price target on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Mizuho decreased their price target on Laboratory Co. of America from $354.00 to $323.00 in a research note on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft decreased their price target on Laboratory Co. of America from $294.00 to $265.00 in a research note on Tuesday, May 3rd. Truist Financial decreased their price target on Laboratory Co. of America from $350.00 to $320.00 in a research note on Friday, April 29th. Finally, StockNews.com initiated coverage on shares of Laboratory Co. of America in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Buy” and a consensus target price of $302.88.

Shares of Laboratory Co. of America stock opened at $241.26 on Tuesday. The company has a market capitalization of $22.36 billion, a P/E ratio of 11.07 and a beta of 1.04. The stock has a fifty day simple moving average of $265.50 and a 200 day simple moving average of $277.75. Laboratory Co. of America Holdings has a 12-month low of $232.01 and a 12-month high of $317.17. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt-to-equity ratio of 0.51.

Laboratory Co. of America (NYSE:LHGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The medical research company reported $6.11 EPS for the quarter, beating the consensus estimate of $5.88 by $0.23. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same quarter last year, the business posted $8.79 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that Laboratory Co. of America Holdings will post 19.9 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, May 18th.

In other news, EVP Mark S. Schroeder sold 2,356 shares of the business’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $277.11, for a total value of $652,871.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter M. Neupert acquired 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 16th. The stock was acquired at an average cost of $263.66 per share, with a total value of $922,810.00. The disclosure for this purchase can be found here. Insiders have sold a total of 3,384 shares of company stock valued at $931,020 over the last three months. Insiders own 0.31% of the company’s stock.

Laboratory Co. of America Company Profile (Get Rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

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

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