Webster Bank N. A. boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH – Get Rating) by 1.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,254 shares of the medical research company’s stock after buying an additional 291 shares during the quarter. Webster Bank N. A.’s holdings in Laboratory Co. of America were worth $5,604,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in LH. Wedge Capital Management L L P NC lifted its position in shares of Laboratory Co. of America by 7.5% in the 1st quarter. Wedge Capital Management L L P NC now owns 117,926 shares of the medical research company’s stock worth $31,092,000 after purchasing an additional 8,276 shares during the period. NuWave Investment Management LLC acquired a new stake in shares of Laboratory Co. of America in the 1st quarter valued at about $281,000. Bowling Portfolio Management LLC increased its holdings in shares of Laboratory Co. of America by 5.3% during the first quarter. Bowling Portfolio Management LLC now owns 7,672 shares of the medical research company’s stock valued at $2,023,000 after acquiring an additional 384 shares in the last quarter. Cooper Financial Group lifted its stake in shares of Laboratory Co. of America by 40.0% in the first quarter. Cooper Financial Group now owns 1,788 shares of the medical research company’s stock valued at $471,000 after buying an additional 511 shares in the last quarter. Finally, Veriti Management LLC boosted its stake in Laboratory Co. of America by 15.0% during the 1st quarter. Veriti Management LLC now owns 3,882 shares of the medical research company’s stock valued at $1,024,000 after purchasing an additional 505 shares during the last quarter. 92.02% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on LH shares. Mizuho dropped their price objective on shares of Laboratory Co. of America from $354.00 to $323.00 in a report on Wednesday, May 4th. Credit Suisse Group cut their price target on shares of Laboratory Co. of America from $344.00 to $312.00 in a research report on Monday, May 2nd. Truist Financial cut their price target on shares of Laboratory Co. of America from $350.00 to $320.00 in a report on Friday, April 29th. Morgan Stanley decreased their target price on shares of Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, May 25th. Finally, Wells Fargo & Company dropped their target price on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $297.72.
Laboratory Co. of America (NYSE:LH – Get Rating) last released its earnings results on Thursday, April 28th. The medical research company reported $6.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $0.23. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. Laboratory Co. of America had a return on equity of 23.84% and a net margin of 13.24%. Laboratory Co. of America’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $8.79 earnings per share. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 19.68 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 19th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Wednesday, May 18th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 13.22%.
In other Laboratory Co. of America news, Director R Sanders Williams sold 572 shares of Laboratory Co. of America stock in a transaction on Friday, March 25th. The shares were sold at an average price of $272.98, for a total value of $156,144.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark S. Schroeder sold 2,356 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $277.11, for a total value of $652,871.16. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
About Laboratory Co. of America (Get Rating)
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.
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