Sivik Global Healthcare LLC Purchases Shares of 15,000 Laboratory Co. of America Holdings (NYSE:LH)

Sivik Global Healthcare LLC acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 15,000 shares of the medical research company's stock, valued at approximately $3,409,000.

Several other institutional investors and hedge funds have also modified their holdings of LH. Mendota Financial Group LLC purchased a new position in shares of Laboratory Co. of America during the 4th quarter valued at approximately $29,000. Provence Wealth Management Group acquired a new stake in shares of Laboratory Co. of America in the third quarter valued at about $29,000. Tradewinds Capital Management LLC purchased a new stake in shares of Laboratory Co. of America during the third quarter worth about $34,000. Exchange Traded Concepts LLC purchased a new position in Laboratory Co. of America in the 3rd quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Laboratory Co. of America during the 4th quarter worth approximately $60,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Laboratory Co. of America Stock Performance

NYSE LH traded down $2.80 during trading hours on Tuesday, hitting $201.37. The company had a trading volume of 890,464 shares, compared to its average volume of 768,185. The business has a 50 day moving average of $211.16 and a 200-day moving average of $214.89. The company has a market cap of $16.94 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 1.49 and a beta of 1.01. Laboratory Co. of America Holdings has a 1-year low of $174.20 and a 1-year high of $234.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate 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 company earned $3.82 earnings per share. The company's revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts expect that Laboratory Co. of America Holdings will post 14.85 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company 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 dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.43%. Laboratory Co. of America's payout ratio is currently 57.95%.

Wall Street Analyst Weigh In

LH has been the topic of a number of recent research reports. Robert W. Baird lowered their price target on shares of Laboratory Co. of America from $255.00 to $244.00 and set an "outperform" rating on the stock in a research report on Friday. Leerink Partnrs restated an "outperform" rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Truist Financial reduced their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday. Evercore ISI began coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an "in-line" rating and a $240.00 target price for the company. Finally, Barclays cut their target price on Laboratory Co. of America from $234.00 to $213.00 and set an "equal weight" rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $243.14.

Insider Transactions at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were 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 in the company, valued at approximately $1,695,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Mark S. Schroeder sold 5,048 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 $1,102,735.60. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $222.06, for a total value of $57,513.54. Following the transaction, the executive vice president now directly owns 7,637 shares in the company, valued at approximately $1,695,872.22. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock worth $11,761,059 over the last ninety days. 0.85% of the stock is currently owned by company insiders.

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).

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