Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,542 shares of the medical research company’s stock after purchasing an additional 1,027 shares during the period. Empowered Funds LLC’s holdings in Laboratory Co. of America were worth $4,361,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Arrow Financial Corp raised its position in shares of Laboratory Co. of America by 100.0% during the 4th quarter. Arrow Financial Corp now owns 100 shares of the medical research company’s stock valued at $31,000 after buying an additional 50 shares during the period. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Laboratory Co. of America during the 4th quarter valued at approximately $31,000. Allworth Financial LP purchased a new stake in shares of Laboratory Co. of America during the 4th quarter valued at approximately $34,000. Ellevest Inc. raised its position in shares of Laboratory Co. of America by 991.7% during the 1st quarter. Ellevest Inc. now owns 131 shares of the medical research company’s stock valued at $35,000 after buying an additional 119 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in Laboratory Co. of America by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 160 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Laboratory Co. of America stock opened at $240.94 on Friday. Laboratory Co. of America Holdings has a twelve month low of $212.40 and a twelve month high of $317.17. The stock’s fifty day simple moving average is $241.29 and its 200-day simple moving average is $265.01. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $22.34 billion, a P/E ratio of 11.06 and a beta of 1.04.

Laboratory Co. of America (NYSE:LH – Get Rating) last issued its earnings results 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. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.79 earnings per share. Sell-side analysts predict that Laboratory Co. of America Holdings will post 19.68 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 9th. Investors of record on Thursday, May 19th were paid a dividend of $0.72 per share. The ex-dividend date was Wednesday, May 18th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. Laboratory Co. of America’s payout ratio is currently 13.22%.

LH has been the topic of a number of research analyst reports. Morgan Stanley cut their target price on Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. Credit Suisse Group cut their target price on Laboratory Co. of America from $344.00 to $312.00 in a research report on Monday, May 2nd. Truist Financial cut their target price on Laboratory Co. of America from $350.00 to $320.00 in a research report on Friday, April 29th. Wells Fargo & Company cut their target price on Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Finally, Mizuho cut their target price on Laboratory Co. of America from $354.00 to $323.00 in a research report on Wednesday, May 4th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus target price of $297.72.

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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