Summit Global Investments Has $327,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Summit Global Investments decreased its position in Laboratory Co. of America Holdings (NYSE:LH) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,441 shares of the medical research company’s stock after selling 103 shares during the quarter. Summit Global Investments’ holdings in Laboratory Co. of America were worth $327,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Trust Investment Advisors increased its holdings in shares of Laboratory Co. of America by 1.8% during the fourth quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after purchasing an additional 46 shares during the period. Atria Wealth Solutions Inc. raised its holdings in 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 valued at $448,000 after acquiring an additional 53 shares in the last quarter. Caprock Group LLC lifted its position in shares of Laboratory Co. of America by 1.8% during the 4th quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock valued at $701,000 after acquiring an additional 56 shares during the period. Arjuna Capital grew its holdings in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock worth $366,000 after purchasing an additional 57 shares in the last quarter. Finally, Greenleaf Trust raised its stake in Laboratory Co. of America by 2.5% in the third quarter. Greenleaf Trust now owns 2,559 shares of the medical research company’s stock valued at $514,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,695,872.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total transaction of $50,025.00. Following the completion of the sale, the director now directly owns 15,722 shares in the company, valued at approximately $3,145,972.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,695,872.22. The disclosure for this sale can be found here. Insiders have sold 57,244 shares of company stock valued at $12,360,478 in the last quarter. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. SVB Leerink initiated coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 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, Robert W. Baird cut their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $243.14.

Laboratory Co. of America Trading Up 0.5 %

Shares of LH stock opened at $201.32 on Monday. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09. The company’s fifty day simple moving average is $210.12 and its two-hundred day simple moving average is $214.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 40.51, a PEG ratio of 1.51 and a beta of 1.02.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.82 earnings per share. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

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

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).