Harbor Investment Advisory LLC Boosts Stake in Laboratory Co. of America Holdings (NYSE:LH)

Harbor Investment Advisory LLC grew its stake in Laboratory Co. of America Holdings (NYSE:LH) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,354 shares of the medical research company’s stock after purchasing an additional 213 shares during the period. Harbor Investment Advisory LLC’s holdings in Laboratory Co. of America were worth $514,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Laboratory Co. of America in the fourth quarter worth $291,045,000. Morgan Stanley boosted its holdings in shares of Laboratory Co. of America by 102.6% in the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after purchasing an additional 1,123,755 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Laboratory Co. of America by 28.0% in the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock valued at $444,821,000 after acquiring an additional 483,878 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Laboratory Co. of America by 536.0% in the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock worth $108,653,000 after acquiring an additional 455,462 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Laboratory Co. of America by 20.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after acquiring an additional 424,684 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 1.3 %

LH stock traded up $2.75 during trading on Monday, reaching $208.00. 518,609 shares of the stock were exchanged, compared to its average volume of 751,693. The business has a 50 day moving average price of $201.83 and a 200-day moving average price of $213.31. The firm has a market capitalization of $17.53 billion, a price-to-earnings ratio of 41.30, a P/E/G ratio of 1.56 and a beta of 1.04. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping 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 analyst estimates of $3.12 billion. During the same period last year, the business posted $3.82 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, research analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the sale, the executive vice president now owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Kerrii B. Anderson sold 250 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $204.13, for a total value of $51,032.50. Following the completion of the sale, the director now owns 15,972 shares in the company, valued at $3,260,364.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The disclosure for this sale can be found here. In the last three months, insiders sold 18,469 shares of company stock valued at $3,959,058. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LH shares. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Robert W. Baird lowered their price target on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. SVB Leerink initiated coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an “outperform” rating and a $260.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.86.

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).