International Assets Investment Management LLC Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

International Assets Investment Management LLC acquired a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 25,684 shares of the medical research company's stock, valued at approximately $5,838,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Provence Wealth Management Group bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $29,000. Mendota Financial Group LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $29,000. Eagle Bay Advisors LLC bought a new position in shares of Laboratory Co. of America in the 2nd quarter worth approximately $29,000. Tradewinds Capital Management LLC bought a new position in shares of Laboratory Co. of America in the 3rd quarter worth approximately $34,000. Finally, Exchange Traded Concepts LLC bought a new position in Laboratory Co. of America during the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of LH traded down $1.40 during trading hours on Tuesday, hitting $201.92. The stock had a trading volume of 691,528 shares, compared to its average volume of 736,967. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.17 and a quick ratio of 1.02. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The firm has a market capitalization of $16.99 billion, a PE ratio of 43.24, a PEG ratio of 1.55 and a beta of 1.01. The stock has a fifty day moving average price of $215.10 and a 200 day moving average price of $214.79.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.29 by $0.01. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the company posted $4.14 earnings per share. Laboratory Co. of America's revenue was down 17.5% compared to the same quarter last year. Analysts anticipate that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Argus upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating and set a $250.00 price objective for the company in a research note on Monday, March 25th. SVB Leerink assumed coverage on Laboratory Co. of America in a research note on Monday, February 26th. They set an "outperform" rating and a $260.00 price objective for the company. TheStreet cut Laboratory Co. of America from a "b-" rating to a "c+" rating in a research note on Thursday, February 15th. Evercore ISI assumed coverage on Laboratory Co. of America in a research note on Friday, February 9th. They set an "in-line" rating and a $240.00 price objective for the company. Finally, Leerink Partnrs reiterated an "outperform" rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $243.50.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, COO Mark S. Schroeder sold 5,048 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the sale, the chief operating officer now owns 5,036 shares of the company's stock, valued at $1,100,114.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the transaction, the executive vice president now owns 7,637 shares of the company's stock, valued at $1,695,872.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark S. Schroeder sold 5,048 shares of the company's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $1,102,735.60. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares of the company's stock, 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. Company insiders own 0.85% of the company's stock.

Laboratory Co. of America 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).