Private Advisor Group LLC bought a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,008 shares of the medical research company’s stock, valued at approximately $1,608,000.
A number of other large investors have also recently bought and sold shares of the stock. WealthPLAN Partners LLC purchased a new position in shares of Laboratory Co. of America during the 1st quarter worth $25,000. Eagle Bay Advisors LLC purchased a new position in shares of Laboratory Co. of America during the 2nd quarter worth $29,000. Zions Bancorporation N.A. lifted its stake 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 worth $31,000 after purchasing an additional 41 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Laboratory Co. of America during the 4th quarter worth $33,000. Finally, ST Germain D J Co. Inc. purchased a new position in shares of Laboratory Co. of America in the 4th quarter worth $38,000. Institutional investors and hedge funds own 87.75% of the company’s stock.
Laboratory Co. of America Stock Down 0.1 %
Shares of Laboratory Co. of America stock opened at $212.19 on Friday. The business has a 50-day moving average of $218.68 and a 200-day moving average of $224.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.35 and a quick ratio of 2.12. The company has a market capitalization of $18.80 billion, a PE ratio of 22.89 and a beta of 1.07. Laboratory Co. of America Holdings has a 1-year low of $166.93 and a 1-year high of $222.33.
Laboratory Co. of America Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Tuesday, August 8th will be paid a $0.72 dividend. The ex-dividend date is Monday, August 7th. This represents a $2.88 dividend on an annualized basis and a yield of 1.36%. Laboratory Co. of America’s dividend payout ratio (DPR) is 31.07%.
Insider Buying and Selling
In related news, Director Kerrii B. Anderson sold 5,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total value of $1,057,850.00. Following the completion of the transaction, the director now directly owns 15,275 shares in the company, valued at $3,231,731.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kerrii B. Anderson sold 5,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total value of $1,057,850.00. Following the completion of the transaction, the director now directly owns 15,275 shares in the company, valued at $3,231,731.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 212 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $240.00, for a total transaction of $50,880.00. Following the completion of the transaction, the executive vice president now directly owns 7,605 shares in the company, valued at approximately $1,825,200. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on LH. Mizuho cut their target price on Laboratory Co. of America from $277.00 to $257.00 in a research report on Tuesday, May 16th. Truist Financial cut their target price on Laboratory Co. of America from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Wells Fargo & Company cut their target price on Laboratory Co. of America from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Monday, August 14th. Morgan Stanley cut their target price on Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. Finally, Credit Suisse Group lowered their price target on Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating for the company in a report on Wednesday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $251.75.
Read Our Latest Analysis on LH
Laboratory Co. of America Profile
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.
Read More
- Five stocks we like better than Laboratory Co. of America
- How to Know if a Stock Pays Dividends and When They Are Paid Out
- 2 Stocks to Get You Ready for the Holiday Season
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- Profit Potential: 5 Undervalued Stocks With High Dividend Yields
- What is the S&P/TSX Index?
- MarketBeat Week in Review – 8/21 – 8/25
Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.
