Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Advisor Resource Council

Advisor Resource Council grew its position in shares of Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 122.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,586 shares of the medical research company’s stock after acquiring an additional 4,721 shares during the quarter. Advisor Resource Council’s holdings in Laboratory Co. of America were worth $2,698,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH raised its stake in shares of Laboratory Co. of America by 9.8% in the 4th quarter. Allianz Asset Management GmbH now owns 258,811 shares of the medical research company’s stock valued at $81,321,000 after acquiring an additional 23,032 shares during the period. Donoghue Forlines LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at about $1,974,000. Fort L.P. raised its holdings in shares of Laboratory Co. of America by 55.3% during the 4th quarter. Fort L.P. now owns 4,549 shares of the medical research company’s stock valued at $1,429,000 after buying an additional 1,620 shares during the period. Candriam Luxembourg S.C.A. boosted its holdings in Laboratory Co. of America by 7.4% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 55,504 shares of the medical research company’s stock worth $17,440,000 after acquiring an additional 3,809 shares during the period. Finally, Nwam LLC grew its position in Laboratory Co. of America by 1.2% in the fourth quarter. Nwam LLC now owns 6,919 shares of the medical research company’s stock valued at $2,174,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 92.02% of the company’s stock.

In other news, CMO Amy B. Summy sold 249 shares of Laboratory Co. of America stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $262.21, for a total transaction of $65,290.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark S. Schroeder sold 2,356 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $277.11, for a total value of $652,871.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,177 shares of company stock valued at $874,306. 0.31% of the stock is owned by insiders.

LH stock traded up $0.77 during midday trading on Thursday, reaching $243.22. The company had a trading volume of 2,376 shares, compared to its average volume of 883,893. The company has a quick ratio of 1.81, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average price of $262.16 and a 200 day moving average price of $275.86. The firm has a market capitalization of $22.55 billion, a PE ratio of 11.13 and a beta of 1.04. Laboratory Co. of America Holdings has a fifty-two week low of $232.01 and a fifty-two week high of $317.17.

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

The company 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, May 18th.

A number of research firms recently weighed in on LH. Wells Fargo & Company lowered 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 report on Monday, April 25th. Morgan Stanley cut their price target on Laboratory Co. of America from $380.00 to $360.00 and set an “overweight” rating on the stock in a research note on Monday, February 14th. Truist Financial lowered their price objective on Laboratory Co. of America from $350.00 to $320.00 in a research note on Friday, April 29th. StockNews.com began coverage on Laboratory Co. of America in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Citigroup raised their price target on shares of Laboratory Co. of America from $340.00 to $350.00 in a research report on Friday, February 11th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $302.88.

Laboratory Co. of America 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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