Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Cohen Capital Management Inc.

Cohen Capital Management Inc. grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 14,566 shares of the medical research company’s stock after buying an additional 222 shares during the period. Cohen Capital Management Inc.’s holdings in Laboratory Co. of America were worth $3,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of LH. Norges Bank acquired a new position in Laboratory Co. of America during the fourth quarter worth about $291,045,000. Morgan Stanley grew its holdings in shares of Laboratory Co. of America by 102.6% in the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after acquiring an additional 1,123,755 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after purchasing an additional 597,571 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 last quarter. Finally, Veritas Investment Partners UK Ltd. boosted its position in Laboratory Co. of America by 32.5% during the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock worth $259,133,000 after purchasing an additional 279,628 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Trading Up 2.9 %

Laboratory Co. of America stock traded up $5.84 during trading on Thursday, reaching $206.21. The company had a trading volume of 709,328 shares, compared to its average volume of 729,590. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 1.53 and a beta of 1.05. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $234.09. The stock’s 50 day moving average price is $202.34 and its two-hundred day moving average price is $211.82.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. 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 the consensus estimate of $3.12 billion. During the same period in the prior year, the firm posted $3.82 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts expect that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the transaction, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 250 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now directly owns 15,722 shares in the company, valued at $3,145,972.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,939 shares of company stock worth $1,021,078 in the last three months. 0.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on LH. Barclays decreased their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Robert W. Baird upped their price target on shares of Laboratory Co. of America from $258.00 to $261.00 and gave the company an “outperform” rating in a report on Monday. Evercore ISI raised their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research note on Tuesday. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Finally, StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.29.

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).