Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by HM Payson & Co.


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HM Payson & Co. lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,408 shares of the medical research company’s stock after buying an additional 55 shares during the quarter. HM Payson & Co.’s holdings in Laboratory Co. of America were worth $490,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LH. Public Sector Pension Investment Board grew its position in shares of Laboratory Co. of America by 25.5% during the third quarter. Public Sector Pension Investment Board now owns 11,805 shares of the medical research company’s stock worth $2,223,000 after buying an additional 2,400 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Laboratory Co. of America by 40.1% in the third quarter. Advisors Asset Management Inc. now owns 9,722 shares of the medical research company’s stock worth $1,830,000 after purchasing an additional 2,785 shares during the period. Engineers Gate Manager LP acquired a new position in Laboratory Co. of America in the third quarter worth $1,427,000. Polar Capital LLP acquired a new position in Laboratory Co. of America in the third quarter worth $3,784,000. Finally, Eudaimonia Partners LLC acquired a new position in Laboratory Co. of America in the third quarter worth $37,000. 89.31% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Laboratory Co. of America from $257.00 to $278.00 and gave the stock a “buy” rating in a report on Friday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Laboratory Co. of America from $261.00 to $279.00 and gave the stock an “overweight” rating in a report on Friday, February 12th. Wolfe Research downgraded shares of Laboratory Co. of America from an “outperform” rating to a “peer perform” rating in a report on Friday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Laboratory Co. of America in a report on Thursday, April 1st. Finally, Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $245.00 target price on the stock in a research note on Monday, January 11th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $237.87.

In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 667 shares of the business’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $251.88, for a total value of $168,003.96. Following the sale, the executive vice president now directly owns 5,006 shares in the company, valued at $1,260,911.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Peter J. Wilkinson sold 2,317 shares of the business’s stock in a transaction dated Thursday, February 18th. The stock was sold at an average price of $241.51, for a total transaction of $559,578.67. Following the completion of the sale, the chief accounting officer now owns 710 shares in the company, valued at $171,472.10. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Shares of NYSE LH opened at $252.30 on Thursday. Laboratory Co. of America Holdings has a fifty-two week low of $134.59 and a fifty-two week high of $259.29. The firm’s 50-day simple moving average is $243.70 and its 200 day simple moving average is $216.01. The company has a quick ratio of 1.23, a current ratio of 1.36 and a debt-to-equity ratio of 0.67. The stock has a market cap of $24.62 billion, a P/E ratio of 29.37, a P/E/G ratio of 1.15 and a beta of 1.09.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Wednesday, February 10th. The medical research company reported $10.56 earnings per share for the quarter, beating analysts’ consensus estimates of $8.11 by $2.45. Laboratory Co. of America had a net margin of 6.79% and a return on equity of 21.05%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $3.98 billion. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 20.84 earnings per share for the current fiscal year.

Laboratory Co. of America Company Profile

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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