Meridian Financial Partners LLC Raises Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Meridian Financial Partners LLC increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,800 shares of the medical research company’s stock after purchasing an additional 135 shares during the period. Laboratory Co. of America accounts for 0.7% of Meridian Financial Partners LLC’s portfolio, making the stock its 29th biggest position. Meridian Financial Partners LLC’s holdings in Laboratory Co. of America were worth $988,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB grew its stake in Laboratory Co. of America by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 1,901,111 shares of the medical research company’s stock worth $386,971,000 after purchasing an additional 132,458 shares during the period. Lazard Asset Management LLC boosted its holdings in Laboratory Co. of America by 1.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,426,695 shares of the medical research company’s stock worth $290,403,000 after acquiring an additional 19,075 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Laboratory Co. of America by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,405,515 shares of the medical research company’s stock worth $286,074,000 after acquiring an additional 17,800 shares in the last quarter. Morgan Stanley boosted its holdings in Laboratory Co. of America by 56.6% in the fourth quarter. Morgan Stanley now owns 1,214,677 shares of the medical research company’s stock worth $247,247,000 after acquiring an additional 439,086 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in Laboratory Co. of America by 5.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,083,093 shares of the medical research company’s stock worth $220,464,000 after acquiring an additional 51,718 shares in the last quarter. 89.31% of the stock is currently owned by institutional investors.

In other news, CAO Peter J. Wilkinson sold 2,317 shares of the firm’s stock in a transaction dated Thursday, February 18th. The shares were sold at an average price of $241.51, for a total value of $559,578.67. Following the completion of the sale, the chief accounting officer now owns 710 shares in the company, valued at approximately $171,472.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark S. Schroeder sold 667 shares of the firm’s stock in a transaction dated Tuesday, March 30th. The stock was sold at an average price of $251.88, for a total transaction of $168,003.96. Following the completion of the sale, the executive vice president now owns 5,006 shares of the company’s stock, valued at approximately $1,260,911.28. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Several research firms have commented on LH. Citigroup boosted their target price on Laboratory Co. of America from $257.00 to $278.00 and gave the stock a “buy” rating in a report on Friday, February 12th. Truist Securities boosted their target price on Laboratory Co. of America from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday. Truist boosted their target price on Laboratory Co. of America from $280.00 to $300.00 in a report on Wednesday, April 14th. Wolfe Research downgraded Laboratory Co. of America from an “outperform” rating to a “peer perform” rating in a report on Friday, January 8th. Finally, JPMorgan Chase & Co. upped their price target on Laboratory Co. of America from $261.00 to $279.00 and gave the company an “overweight” rating in a report on Friday, February 12th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $245.18.

LH stock traded up $0.64 during trading on Friday, hitting $265.49. 3,656 shares of the company’s stock traded hands, compared to its average volume of 710,393. Laboratory Co. of America Holdings has a 52 week low of $153.72 and a 52 week high of $266.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.23 and a current ratio of 1.36. The business has a fifty day simple moving average of $248.12 and a 200 day simple moving average of $221.49. The stock has a market capitalization of $25.92 billion, a price-to-earnings ratio of 30.83, a P/E/G ratio of 1.15 and a beta of 1.09.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Wednesday, February 10th. The medical research company reported $10.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.11 by $2.45. Laboratory Co. of America had a net margin of 6.79% and a return on equity of 21.05%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $3.98 billion. Research analysts forecast that Laboratory Co. of America Holdings will post 20.84 earnings per share for the current fiscal year.

Laboratory Co. of America Profile

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

Recommended Story: What is the Difference Between Common Shares and Convertible Shares?

Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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.