Desjardins Global Asset Management Inc. Has $1.72 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Desjardins Global Asset Management Inc. increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 85.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,587 shares of the medical research company’s stock after acquiring an additional 3,487 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Laboratory Co. of America were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in LH. Provence Wealth Management Group bought a new position in Laboratory Co. of America in the 3rd quarter valued at approximately $29,000. Mendota Financial Group LLC bought a new position in Laboratory Co. of America in the 4th quarter valued at approximately $29,000. Eagle Bay Advisors LLC bought a new position in Laboratory Co. of America in the 2nd quarter valued at approximately $29,000. Tradewinds Capital Management LLC bought a new position in Laboratory Co. of America in the 3rd quarter valued at approximately $34,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Laboratory Co. of America during the third quarter valued at $37,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Evercore ISI started coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 target price for the company. Barclays started coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 target price for the company. Finally, SVB Leerink started coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They set an “outperform” rating and a $260.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $243.50.

Insiders Place Their Bets

In other news, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at $842,998.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Jonathan P. Divincenzo sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total value of $107,745.00. Following the sale, the executive vice president now owns 3,401 shares of the company’s stock, valued at $732,881.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at approximately $842,998.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,305 shares of company stock valued at $11,761,059. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.7 %

Laboratory Co. of America stock opened at $201.92 on Wednesday. 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 $16.99 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The firm’s 50-day simple moving average is $215.10 and its 200 day simple moving average is $214.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17.

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 for the quarter, topping the consensus estimate of $3.29 by $0.01. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm’s revenue for the quarter was down 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.14 earnings per share. Research analysts predict that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

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).