Cardinal Capital Management Has $7.33 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Cardinal Capital Management grew its position in Laboratory Co. of America Holdings (NYSE:LHFree Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,552 shares of the medical research company’s stock after purchasing an additional 2,969 shares during the period. Cardinal Capital Management’s holdings in Laboratory Co. of America were worth $7,330,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LH. Mendota Financial Group LLC acquired a new stake in Laboratory Co. of America in the fourth quarter worth $29,000. Bruce G. Allen Investments LLC bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth $60,000. Disciplined Equity Management Inc. bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth $68,000. Oakworth Capital Inc. increased its position in shares of Laboratory Co. of America by 48.1% during the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after acquiring an additional 100 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of Laboratory Co. of America during the fourth quarter worth $76,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

LH stock traded up $1.66 during mid-day trading on Thursday, hitting $204.90. The stock had a trading volume of 464,390 shares, compared to its average volume of 746,076. 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 Holdings has a 52 week low of $191.97 and a 52 week high of $234.09. The firm has a market capitalization of $17.27 billion, a P/E ratio of 41.14, a P/E/G ratio of 1.56 and a beta of 1.04. The firm has a fifty day simple moving average of $202.10 and a 200 day simple moving average of $213.11.

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 earnings per share (EPS) for the quarter, beating 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%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.82 EPS. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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

Insider Activity at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now directly owns 3,975 shares of the company’s stock, valued at approximately $863,727.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Amy B. Summy sold 3,500 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares in the company, valued at $863,727.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,916 shares of company stock valued at $3,188,981. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LH has been the subject of several research reports. Argus raised shares of 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 report on Monday, March 25th. Barclays lowered 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 research report on Friday, April 26th. Truist Financial decreased their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, April 26th. 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 research report on Friday, April 26th. Finally, JPMorgan Chase & Co. reduced 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. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.86.

Check Out Our Latest Stock Analysis on Laboratory Co. of America

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).

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

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