MGO One Seven LLC purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,256 shares of the medical research company’s stock, valued at approximately $288,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Laboratory Co. of America by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,859,128 shares of the medical research company’s stock worth $2,863,118,000 after purchasing an additional 106,063 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Laboratory Co. of America by 532.2% during the 4th quarter. Lazard Asset Management LLC now owns 1,530,675 shares of the medical research company’s stock valued at $360,441,000 after acquiring an additional 1,288,574 shares during the period. Morgan Stanley boosted its holdings in Laboratory Co. of America by 19.8% during the 4th quarter. Morgan Stanley now owns 1,317,815 shares of the medical research company’s stock valued at $310,319,000 after acquiring an additional 218,161 shares during the period. Norges Bank purchased a new position in Laboratory Co. of America during the 4th quarter valued at about $219,236,000. Finally, Veritas Investment Partners UK Ltd. boosted its stake in shares of Laboratory Co. of America by 1.0% in the 1st quarter. Veritas Investment Partners UK Ltd. now owns 856,299 shares of the medical research company’s stock valued at $196,423,000 after buying an additional 8,273 shares during the period. 87.75% of the stock is owned by institutional investors and hedge funds.
Laboratory Co. of America Trading Down 0.8 %
NYSE:LH opened at $216.16 on Wednesday. The firm has a market cap of $19.15 billion, a P/E ratio of 23.32 and a beta of 1.07. The company has a current ratio of 2.35, a quick ratio of 2.12 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $220.56 and its 200-day simple moving average is $226.69. Laboratory Co. of America Holdings has a 12-month low of $166.93 and a 12-month high of $222.33.
Laboratory Co. of America Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 8th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, August 7th. Laboratory Co. of America’s dividend payout ratio is presently 31.07%.
Insider Buying and Selling
In related news, CEO Paul R. Kirchgraber sold 4,300 shares of the company’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 $2,808,116.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 212 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $240.00, for a total value of $50,880.00. Following the sale, the executive vice president now directly owns 7,605 shares in the company, valued at $1,825,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul R. Kirchgraber sold 4,300 shares of the company’s stock in a transaction 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 $2,808,116.86. The disclosure for this sale can be found here. Insiders have sold 11,012 shares of company stock valued at $2,366,598 over the last quarter. Company insiders own 0.65% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price objective on Laboratory Co. of America from $255.00 to $251.00 and set an “outperform” rating for the company in a research note on Monday, July 31st. Mizuho decreased their target price on Laboratory Co. of America from $277.00 to $257.00 in a research note on Tuesday, May 16th. Morgan Stanley decreased their target price on Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. Wells Fargo & Company decreased their target price on Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Credit Suisse Group decreased their target price on Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $251.75.
Get Our Latest Stock Report on LH
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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