Clifford Swan Investment Counsel LLC Purchases 5,309 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Clifford Swan Investment Counsel LLC raised its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,348 shares of the medical research company’s stock after buying an additional 5,309 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Laboratory Co. of America were worth $18,490,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Trust Investment Advisors increased its stake in Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock valued at $583,000 after purchasing an additional 46 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of Laboratory Co. of America by 2.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after purchasing an additional 53 shares in the last quarter. Caprock Group LLC raised its stake in shares of Laboratory Co. of America by 1.8% in the fourth quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after purchasing an additional 56 shares during the last quarter. Arjuna Capital lifted its holdings in shares of Laboratory Co. of America by 3.2% during the third quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock valued at $366,000 after purchasing an additional 57 shares in the last quarter. Finally, Greenleaf Trust boosted its position in shares of Laboratory Co. of America by 2.5% during the third quarter. Greenleaf Trust now owns 2,559 shares of the medical research company’s stock valued at $514,000 after buying an additional 62 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 0.5 %

LH stock traded up $1.07 during midday trading on Friday, hitting $201.32. 555,654 shares of the company’s stock were exchanged, compared to its average volume of 854,788. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The business has a 50-day simple moving average of $210.12 and a two-hundred day simple moving average of $214.87. The stock has a market capitalization of $16.97 billion, a PE ratio of 40.51, a P/E/G ratio of 1.51 and a beta of 1.02. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. Laboratory Co. of America’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.82 earnings per share. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Insider Activity

In related news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the sale, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at $842,998.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now directly owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,244 shares of company stock valued at $12,360,478. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LH has been the subject of a number of research reports. Robert W. Baird decreased their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. SVB Leerink began coverage on Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 price target on the stock. Barclays dropped their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Truist Financial decreased their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $243.14.

About Laboratory Co. of America

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).