EA Series Trust acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 991 shares of the medical research company’s stock, valued at approximately $239,000.
A number of other institutional investors have also recently bought and sold shares of the business. Macquarie Group Ltd. raised its position in shares of Laboratory Co. of America by 8.4% in the 1st quarter. Macquarie Group Ltd. now owns 6,961 shares of the medical research company’s stock valued at $1,597,000 after acquiring an additional 540 shares during the period. Blair William & Co. IL boosted its position in shares of Laboratory Co. of America by 3.5% during the first quarter. Blair William & Co. IL now owns 9,288 shares of the medical research company’s stock worth $2,131,000 after purchasing an additional 311 shares in the last quarter. Hartford Investment Management Co. grew its holdings in shares of Laboratory Co. of America by 16.9% in the 1st quarter. Hartford Investment Management Co. now owns 7,490 shares of the medical research company’s stock valued at $1,718,000 after buying an additional 1,081 shares during the period. State of Michigan Retirement System increased its position in shares of Laboratory Co. of America by 0.8% in the 1st quarter. State of Michigan Retirement System now owns 26,387 shares of the medical research company’s stock valued at $6,054,000 after buying an additional 200 shares in the last quarter. Finally, Inceptionr LLC lifted its holdings in Laboratory Co. of America by 2.5% during the first quarter. Inceptionr LLC now owns 3,190 shares of the medical research company’s stock worth $732,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.
Insider Activity at Laboratory Co. of America
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total transaction of $1,057,850.00. Following the completion of the sale, the director now owns 15,275 shares of the company’s stock, valued at approximately $3,231,731.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by company insiders.
Laboratory Co. of America Stock Down 1.0 %
Laboratory Co. of America (NYSE:LH – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The medical research company reported $3.42 EPS for the quarter, missing the consensus estimate of $3.47 by ($0.05). The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.77 billion. Laboratory Co. of America had a net margin of 5.89% and a return on equity of 14.62%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 EPS. Analysts anticipate that Laboratory Co. of America Holdings will post 13.64 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 8th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, November 7th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.46%. Laboratory Co. of America’s payout ratio is 31.07%.
Analysts Set New Price Targets
LH has been the topic of several recent analyst reports. Mizuho reiterated a “buy” rating and set a $257.00 price objective on shares of Laboratory Co. of America in a report on Friday, September 15th. Bank of America lowered their price objective on shares of Laboratory Co. of America from $238.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday, September 21st. Credit Suisse Group cut their price objective on shares of Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. UBS Group lowered their target price on Laboratory Co. of America from $255.00 to $250.00 in a report on Monday, September 18th. Finally, HSBC began coverage on Laboratory Co. of America in a report on Wednesday, September 6th. They issued a “hold” rating and a $210.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.55.
Get Our Latest Stock Analysis on Laboratory Co. of America
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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