Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 20.5% in the fourth quarter, Holdings Channel reports. The firm owned 3,091 shares of the medical research company’s stock after purchasing an additional 525 shares during the period. RWA Wealth Partners LLC’s holdings in Laboratory Co. of America were worth $703,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Provence Wealth Management Group acquired a new stake in Laboratory Co. of America during the 3rd quarter valued at approximately $29,000. Mendota Financial Group LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter valued at $29,000. Tradewinds Capital Management LLC acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new position in shares of Laboratory Co. of America in the 3rd quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter valued at $60,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at $842,998.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the sale, the chief marketing officer now owns 3,859 shares of the company’s stock, valued at $842,998.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark S. Schroeder sold 5,048 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares in the company, valued at approximately $1,100,114.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock opened at $207.94 on Thursday. Laboratory Co. of America Holdings has a 52-week low of $174.20 and a 52-week high of $234.09. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 44.53, a PEG ratio of 1.56 and a beta of 1.01. The company has a fifty day simple moving average of $212.54 and a 200-day simple moving average of $214.80. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 0.52.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The business had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the prior year, the firm earned $4.14 earnings per share. The company’s revenue for the quarter was down 17.5% compared to the same quarter last year. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is currently 61.67%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Barclays assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 target price for the company. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Monday, March 25th. Finally, Evercore ISI assumed 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 price target for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $243.50.

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).