OLD National Bancorp IN cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,417 shares of the medical research company’s stock after selling 56 shares during the quarter. OLD National Bancorp IN’s holdings in Laboratory Co. of America were worth $784,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of LH. Zions Bancorporation N.A. raised its position in shares of Laboratory Co. of America by 45.6% during the 4th quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 41 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in Laboratory Co. of America by 0.3% during the fourth quarter. Yousif Capital Management LLC now owns 13,133 shares of the medical research company’s stock worth $3,093,000 after buying 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% during the 4th quarter. Hanson & Doremus Investment Management now owns 1,125 shares of the medical research company’s stock worth $265,000 after buying an additional 44 shares during the period. Global Assets Advisory LLC raised its position in shares of Laboratory Co. of America by 4.8% in the 4th quarter. Global Assets Advisory LLC now owns 1,041 shares of the medical research company’s stock valued at $245,000 after acquiring an additional 48 shares during the period. Finally, Neuberger Berman Group LLC grew its holdings in Laboratory Co. of America by 0.6% during 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 period. 87.75% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, COO Mark S. Schroeder sold 1,500 shares of Laboratory Co. of America stock in a transaction dated 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 of the company’s stock, valued at approximately $1,449,540.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Laboratory Co. of America 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 sale, the chief executive officer now owns 12,946 shares in the company, valued at $2,808,116.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mark S. Schroeder sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 6,687 shares of the company’s stock, valued at $1,449,540.99. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Laboratory Co. of America Stock Up 0.4 %
Shares of LH stock opened at $241.33 on Monday. The firm’s fifty day moving average price is $224.18 and its two-hundred day moving average price is $232.75. The company has a current ratio of 1.63, a quick ratio of 1.46 and a debt-to-equity ratio of 0.50. Laboratory Co. of America Holdings has a 1 year low of $200.32 and a 1 year high of $263.13. The firm has a market capitalization of $21.38 billion, a P/E ratio of 21.90 and a beta of 1.06.
Laboratory Co. of America (NYSE:LH – Free Report) last released its earnings results on Tuesday, April 25th. The medical research company reported $3.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($0.17). The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.70 billion. Laboratory Co. of America had a net margin of 6.78% and a return on equity of 15.56%. Laboratory Co. of America’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.11 EPS. On average, equities analysts predict that Laboratory Co. of America Holdings will post 16.83 EPS for the current fiscal year.
Laboratory Co. of America Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 8th. Investors 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 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America’s dividend payout ratio is presently 26.13%.
About Laboratory Co. of America
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.
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