Signaturefd LLC Raises Stake in Laboratory Co. of America Holdings (NYSE:LH)

Signaturefd LLC raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,241 shares of the medical research company’s stock after acquiring an additional 265 shares during the quarter. Signaturefd LLC’s holdings in Laboratory Co. of America were worth $282,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in Laboratory Co. of America by 5.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after purchasing an additional 1,237 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Laboratory Co. of America by 6.0% during the third quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock worth $1,711,000 after purchasing an additional 484 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new stake in Laboratory Co. of America during the fourth quarter worth approximately $1,091,000. Cerity Partners LLC raised its holdings in Laboratory Co. of America by 8.6% during the fourth quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after purchasing an additional 5,105 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its holdings in Laboratory Co. of America by 202.4% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,243 shares of the medical research company’s stock worth $2,101,000 after purchasing an additional 6,186 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 34,504 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Glenn A. Eisenberg sold 34,504 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,695,872.22. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock worth $11,761,059 in the last three months. Corporate insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday. Evercore ISI began coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 target price on the stock. Truist Financial cut their target price on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday. SVB Leerink began coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price on the stock. Finally, TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $243.14.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $198.40 on Friday. The firm has a market capitalization of $16.69 billion, a P/E ratio of 39.92, a PEG ratio of 1.49 and a beta of 1.01. Laboratory Co. of America Holdings has a one year low of $174.20 and a one year high of $234.09. The company’s fifty day moving average is $211.70 and its two-hundred day moving average is $214.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the firm earned $3.82 EPS. The business’s revenue was up 4.6% on a year-over-year basis. Analysts forecast that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be given a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

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 (Dx) and Biopharma Laboratory Services (BLS).