Wealth Advisors of Tampa Bay LLC Purchases 80 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wealth Advisors of Tampa Bay LLC increased its position in Laboratory Co. of America Holdings (NYSE:LHGet Rating) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,680 shares of the medical research company’s stock after acquiring an additional 80 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in Laboratory Co. of America were worth $4,400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Laboratory Co. of America by 6.8% in the fourth quarter. BlackRock Inc. now owns 8,274,410 shares of the medical research company’s stock worth $2,599,903,000 after acquiring an additional 524,578 shares during the period. State Street Corp grew its holdings in Laboratory Co. of America by 2.7% during the fourth quarter. State Street Corp now owns 4,423,702 shares of the medical research company’s stock valued at $1,389,971,000 after purchasing an additional 117,371 shares during the period. Geode Capital Management LLC grew its holdings in Laboratory Co. of America by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 1,876,827 shares of the medical research company’s stock valued at $588,268,000 after purchasing an additional 41,781 shares during the period. Alliancebernstein L.P. grew its holdings in Laboratory Co. of America by 11.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,488,164 shares of the medical research company’s stock valued at $467,596,000 after purchasing an additional 152,947 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Laboratory Co. of America by 2.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,280,094 shares of the medical research company’s stock valued at $402,218,000 after purchasing an additional 30,756 shares during the period. 92.02% of the stock is owned by institutional investors.

Several analysts have issued reports on the company. Truist Financial cut their price target on Laboratory Co. of America from $350.00 to $320.00 in a report on Friday, April 29th. Deutsche Bank Aktiengesellschaft cut their price target on Laboratory Co. of America from $294.00 to $265.00 in a report on Tuesday, May 3rd. Wells Fargo & Company cut their price target on 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. StockNews.com started coverage on Laboratory Co. of America in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Morgan Stanley lowered their price objective 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.72.

NYSE:LH opened at $240.94 on Tuesday. 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 company has a market capitalization of $22.34 billion, a P/E ratio of 11.06 and a beta of 1.02. Laboratory Co. of America Holdings has a 12 month low of $212.40 and a 12 month high of $317.17. The business’s 50-day moving average is $240.83 and its 200 day moving average is $263.92.

Laboratory Co. of America (NYSE:LHGet Rating) last posted 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. Laboratory Co. of America had a return on equity of 23.84% and a net margin of 13.24%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $8.79 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, research analysts forecast that Laboratory Co. of America Holdings will post 19.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 9th. Stockholders 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 dividend payout ratio is 13.22%.

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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