SFE Investment Counsel Has $2.39 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

SFE Investment Counsel increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,527 shares of the medical research company’s stock after buying an additional 240 shares during the quarter. SFE Investment Counsel’s holdings in Laboratory Co. of America were worth $2,393,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in Laboratory Co. of America during the second quarter worth about $29,000. Mendota Financial Group LLC bought a new position in Laboratory Co. of America during the fourth quarter worth about $29,000. Provence Wealth Management Group bought a new position in Laboratory Co. of America during the third quarter worth about $29,000. Tradewinds Capital Management LLC bought a new position in Laboratory Co. of America during the third quarter worth about $34,000. Finally, Exchange Traded Concepts LLC bought a new position in Laboratory Co. of America during the third quarter worth about $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

Shares of LH stock traded down $1.50 on Thursday, reaching $198.47. The stock had a trading volume of 372,991 shares, compared to its average volume of 731,056. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. The firm’s 50-day moving average is $214.63 and its two-hundred day moving average is $214.69. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 42.82, a P/E/G ratio of 1.52 and a beta of 1.01. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the business posted $4.14 EPS. The business’s revenue was down 17.5% compared to the same quarter last year. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.45%. Laboratory Co. of America’s payout ratio is presently 61.67%.

Analyst Ratings Changes

LH has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price for the company. TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Evercore ISI began coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price for the company. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Finally, Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.50.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Jonathan P. Divincenzo sold 500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total transaction of $107,745.00. Following the transaction, the executive vice president now owns 3,401 shares in the company, valued at approximately $732,881.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Jonathan P. Divincenzo sold 500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total transaction of $107,745.00. Following the sale, the executive vice president now owns 3,401 shares in the company, valued at approximately $732,881.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark S. Schroeder sold 5,048 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the sale, the chief operating officer now owns 5,036 shares in the company, valued at approximately $1,100,114.20. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock worth $11,761,059 in the last quarter. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company Profile

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).