Gulf International Bank UK Ltd Has $2.69 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Posted by Defense World Staff on Jun 25th, 2023

Gulf International Bank UK Ltd lessened its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,718 shares of the medical research company’s stock after selling 3,565 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Laboratory Co. of America were worth $2,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Zions Bancorporation N.A. raised its stake in Laboratory Co. of America by 45.6% in the fourth quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock valued at $31,000 after buying an additional 41 shares during the period. Yousif Capital Management LLC grew its position in shares of Laboratory Co. of America by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 13,133 shares of the medical research company’s stock valued at $3,093,000 after purchasing an additional 42 shares during the last quarter. Hanson & Doremus Investment Management grew its position in shares of Laboratory Co. of America by 4.1% in the fourth quarter. Hanson & Doremus Investment Management now owns 1,125 shares of the medical research company’s stock valued at $265,000 after purchasing an additional 44 shares during the last quarter. Global Assets Advisory LLC grew its position in shares of Laboratory Co. of America by 4.8% in the fourth quarter. Global Assets Advisory LLC now owns 1,041 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 48 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Laboratory Co. of America by 0.6% in the fourth quarter. Neuberger Berman Group LLC now owns 7,834 shares of the medical research company’s stock valued at $1,845,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Laboratory Co. of America from $265.00 to $240.00 in a research report on Wednesday, April 26th. Truist Financial decreased their target price on Laboratory Co. of America from $285.00 to $275.00 in a research report on Monday, May 1st. StockNews.com initiated coverage on Laboratory Co. of America in a research report on Thursday. They issued a “buy” rating on the stock. Citigroup reduced their price target on Laboratory Co. of America from $260.00 to $235.00 in a research report on Wednesday, April 26th. Finally, Mizuho reduced their price target on Laboratory Co. of America from $277.00 to $257.00 in a research report on Tuesday, May 16th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.50.

Insider Transactions at Laboratory Co. of America

In other news, COO Mark S. Schroeder sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $216.77, for a total value of $325,155.00. Following the transaction, the chief operating officer now owns 6,687 shares in the company, valued at approximately $1,449,540.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Paul R. Kirchgraber sold 4,300 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $216.91, for a total value of $932,713.00. Following the transaction, the chief executive officer now owns 12,946 shares in the company, valued at $2,808,116.86. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Mark S. Schroeder sold 1,500 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $216.77, for a total value of $325,155.00. Following the sale, the chief operating officer now owns 6,687 shares in the company, valued at approximately $1,449,540.99. The disclosure for this sale can be found here. Insiders have sold 9,697 shares of company stock worth $2,137,850 in the last 90 days. Insiders own 0.65% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH opened at $234.83 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.46 and a current ratio of 1.63. The stock has a 50 day moving average price of $223.45 and a two-hundred day moving average price of $232.51. The firm has a market capitalization of $20.81 billion, a P/E ratio of 21.31 and a beta of 1.04. Laboratory Co. of America Holdings has a 52 week low of $200.32 and a 52 week high of $263.13.

Laboratory Co. of America (NYSE:LH – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The medical research company reported $3.82 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the firm posted $6.11 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts forecast that Laboratory Co. of America Holdings will post 16.83 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Stockholders of record on Thursday, May 18th were paid a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. Laboratory Co. of America’s payout ratio is presently 26.13%.

Laboratory Co. of America Profile

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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 and Labcorp Drug Development.