1,075 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by SVB Wealth LLC

Posted by Defense World Staff on May 28th, 2023

SVB Wealth LLC bought a new position in Laboratory Co. of America Holdings (NYSE:LH – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,075 shares of the medical research company’s stock, valued at approximately $253,000.

A number of other institutional investors also recently bought and sold shares of the stock. First Hawaiian Bank purchased a new stake in shares of Laboratory Co. of America in the fourth quarter worth about $602,000. D.A. Davidson & CO. increased its stake in Laboratory Co. of America by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 8,628 shares of the medical research company’s stock worth $2,032,000 after acquiring an additional 165 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Laboratory Co. of America by 5.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,902 shares of the medical research company’s stock worth $10,835,000 after acquiring an additional 2,762 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Laboratory Co. of America by 3.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,692 shares of the medical research company’s stock worth $1,812,000 after acquiring an additional 248 shares during the last quarter. Finally, Prudential PLC grew its stake in shares of Laboratory Co. of America by 99.1% during the fourth quarter. Prudential PLC now owns 4,707 shares of the medical research company’s stock valued at $1,108,000 after buying an additional 2,343 shares during the last quarter. 89.70% of the stock is owned by institutional investors.

Laboratory Co. of America Price Performance

NYSE:LH opened at $215.60 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.63 and a debt-to-equity ratio of 0.50. Laboratory Co. of America Holdings has a 52 week low of $200.32 and a 52 week high of $263.13. The stock has a market capitalization of $19.10 billion, a PE ratio of 19.56 and a beta of 1.04. The stock’s 50-day moving average price is $224.30 and its 200-day moving average price is $234.64.

Laboratory Co. of America (NYSE:LH – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The medical research company reported $3.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.17). Laboratory Co. of America had a return on equity of 15.56% and a net margin of 6.78%. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the previous year, the firm posted $6.11 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 16.83 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 18th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $2.88 annualized dividend and a yield of 1.34%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 26.13%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Mizuho dropped their price objective on Laboratory Co. of America from $277.00 to $257.00 in a research note on Tuesday, May 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on Laboratory Co. of America from $265.00 to $240.00 in a report on Wednesday, April 26th. Credit Suisse Group decreased their price objective on Laboratory Co. of America from $304.00 to $288.00 and set an “outperform” rating for the company in a report on Monday, March 13th. Wells Fargo & Company decreased their price objective on Laboratory Co. of America from $315.00 to $290.00 and set an “overweight” rating for the company in a report on Tuesday, February 21st. Finally, Citigroup reduced their target price on Laboratory Co. of America from $260.00 to $235.00 in a research note on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and a consensus price target of $273.50.

Insider Activity at Laboratory Co. of America

In related news, CEO Paul R. Kirchgraber sold 4,300 shares of Laboratory Co. of America stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $216.91, for a total value of $932,713.00. Following the completion of the sale, the chief executive officer now owns 12,946 shares in the company, valued at approximately $2,808,116.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, COO Mark S. Schroeder sold 1,500 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $216.77, for a total value of $325,155.00. Following the completion of the transaction, the chief operating officer now owns 6,687 shares in the company, valued at $1,449,540.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul R. Kirchgraber sold 4,300 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $216.91, for a total transaction of $932,713.00. Following the transaction, the chief executive officer now owns 12,946 shares of the company’s stock, valued at approximately $2,808,116.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,697 shares of company stock worth $2,137,850. Insiders own 0.65% of the company’s stock.

Laboratory Co. of America Profile

(Get Rating)

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.