Laboratory Co. of America Holdings (NYSE:LH) Stock Holdings Cut by Grandview Asset Management LLC

Grandview Asset Management LLC lessened its position in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 10.0% during the first quarter, Holdings Channel reports. The institutional investor owned 1,985 shares of the medical research company’s stock after selling 220 shares during the quarter. Grandview Asset Management LLC’s holdings in Laboratory Co. of America were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Provence Wealth Management Group bought a new position in shares of Laboratory Co. of America in the third quarter valued at $29,000. Mendota Financial Group LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter valued at $60,000. Disciplined Equity Management Inc. purchased a new position in Laboratory Co. of America in the 4th quarter worth about $68,000. Finally, Oakworth Capital Inc. raised its holdings in Laboratory Co. of America by 48.1% during the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LH. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. JPMorgan Chase & Co. decreased their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. StockNews.com downgraded shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Barclays decreased their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Finally, Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Monday, March 25th. Four equities research 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 a consensus target price of $241.86.

View Our Latest Analysis on LH

Laboratory Co. of America Stock Down 1.2 %

NYSE:LH traded down $2.42 during mid-day trading on Friday, reaching $204.96. The stock had a trading volume of 273,745 shares, compared to its average volume of 745,955. The stock has a market cap of $17.28 billion, a P/E ratio of 41.73, a PEG ratio of 1.55 and a beta of 1.04. The business’s 50 day moving average is $201.84 and its 200 day moving average is $213.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $234.09.

Laboratory Co. of America (NYSE:LHGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.48 by $0.20. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.82 EPS. As a group, sell-side analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were issued a dividend of $0.72 per share. The ex-dividend date was Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.41%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Transactions at Laboratory Co. of America

In other news, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the chief accounting officer now owns 2,087 shares of the company’s stock, valued at $426,436.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares of the company’s stock, valued at approximately $863,727.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter J. Wilkinson sold 2,439 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the chief accounting officer now owns 2,087 shares of the company’s stock, valued at $426,436.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,469 shares of company stock worth $3,959,058. 0.85% of the stock is owned by corporate insiders.

Laboratory Co. of America 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).

Recommended Stories

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Co. of America Holdings (NYSE:LHFree Report).

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

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.