Oakworth Capital Inc. Grows Position in Laboratory Co. of America Holdings (NYSE:LH)

Oakworth Capital Inc. lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) by 48.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308 shares of the medical research company’s stock after buying an additional 100 shares during the quarter. Oakworth Capital Inc.’s holdings in Laboratory Co. of America were worth $70,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LH. Provence Wealth Management Group acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $29,000. Eagle Bay Advisors LLC acquired a new position in Laboratory Co. of America in the 2nd quarter valued at $29,000. Tradewinds Capital Management LLC acquired a new position in Laboratory Co. of America in the 3rd quarter valued at $34,000. Finally, Exchange Traded Concepts LLC acquired a new position in Laboratory Co. of America in the 3rd quarter valued at $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Performance

NYSE LH opened at $199.97 on Thursday. The stock has a market cap of $16.82 billion, a PE ratio of 42.82, a P/E/G ratio of 1.52 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The stock has a fifty day simple moving average of $214.63 and a 200-day simple moving average of $214.69.

Laboratory Co. of America (NYSE:LHGet Free Report) last announced its earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period last year, the business posted $4.14 EPS. Laboratory Co. of America’s revenue for the quarter was down 17.5% on a year-over-year basis. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is 61.67%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LH shares. SVB Leerink started coverage on Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective for the company. Argus raised 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 note on Monday, March 25th. Evercore ISI initiated coverage on Laboratory Co. of America in a research note on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective for the company. TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Barclays initiated coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price of $243.50.

Check Out Our Latest Stock Analysis on LH

Insider Activity at Laboratory Co. of America

In related news, EVP Jonathan P. Divincenzo sold 500 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.49, for a total transaction of $107,745.00. Following the completion of the transaction, the executive vice president now directly owns 3,401 shares in the company, valued at approximately $732,881.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan P. Divincenzo sold 500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total value of $107,745.00. Following the completion of the sale, the executive vice president now directly owns 3,401 shares in the company, valued at approximately $732,881.49. The disclosure for this sale can be found here. Insiders sold 54,305 shares of company stock worth $11,761,059 in the last three months. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Company Profile

(Free Report)

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).

Further Reading

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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