Strs Ohio Has $2.06 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Strs Ohio reduced its stake in Laboratory Co. of America Holdings (NYSE:LH) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,057 shares of the medical research company’s stock after selling 751 shares during the quarter. Strs Ohio’s holdings in Laboratory Co. of America were worth $2,058,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Provence Wealth Management Group acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at approximately $29,000. Mendota Financial Group LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new stake in shares of Laboratory Co. of America in the second quarter worth $29,000. Tradewinds Capital Management LLC acquired a new position in Laboratory Co. of America during the third quarter worth $34,000. Finally, Exchange Traded Concepts LLC bought a new position in Laboratory Co. of America in the third quarter valued at $37,000. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Trading Up 1.0 %

Shares of NYSE:LH opened at $201.48 on Friday. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The business has a 50 day moving average of $213.74 and a 200-day moving average of $214.60. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52. The stock has a market cap of $16.95 billion, a PE ratio of 43.14, a P/E/G ratio of 1.50 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.29 by $0.01. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.02 billion. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The firm’s quarterly revenue was down 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.14 EPS. As a group, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is 61.67%.

Analyst Ratings Changes

LH has been the subject of several analyst reports. SVB Leerink started coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective for the company. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Monday, March 25th. Evercore ISI started coverage on Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 price objective on the stock. Barclays began coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price for the company. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.50.

Insider Buying and Selling

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 6,477 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the transaction, the chief operating officer now owns 5,036 shares in the company, valued at approximately $1,094,272.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Laboratory Co. of America news, COO Mark S. Schroeder sold 6,477 shares of Laboratory Co. of America stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at approximately $1,094,272.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Company 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 (Dx) and Biopharma Laboratory Services (BLS).