Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC grew its position in Laboratory Co. of America Holdings (NYSE:LH) by 50.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 966 shares of the medical research company’s stock after acquiring an additional 323 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Laboratory Co. of America were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LH. Wellington Management Group LLP lifted its holdings in shares of Laboratory Co. of America by 20.6% during the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after purchasing an additional 424,684 shares during the period. Morgan Stanley lifted its holdings in shares of Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after purchasing an additional 1,123,755 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Laboratory Co. of America by 28.0% during the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after purchasing an additional 483,878 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of Laboratory Co. of America by 644.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock worth $257,522,000 after purchasing an additional 1,108,776 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Laboratory Co. of America by 12.6% during the third quarter. Northern Trust Corp now owns 1,129,759 shares of the medical research company’s stock worth $227,138,000 after purchasing an additional 126,602 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 0.0 %

Shares of LH stock opened at $198.40 on Monday. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The stock has a market cap of $16.69 billion, a P/E ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. The business has a fifty day simple moving average of $211.70 and a 200-day simple moving average of $214.85. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.46 by $0.22. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the business posted $3.82 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts forecast that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,695,872.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Der Vaart Sandra D. Van sold 259 shares of Laboratory Co. of America stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $222.06, for a total transaction of $57,513.54. Following the completion of the sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,695,872.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction dated Wednesday, February 21st. The stock was 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 owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock worth $11,761,059 over the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LH shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. SVB Leerink assumed coverage on Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 price target for the company. Barclays cut their price objective on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday. Truist Financial cut their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research report on Friday. Finally, Robert W. Baird cut their price objective on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

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).