1,066 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by NuWave Investment Management LLC

NuWave Investment Management LLC bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,066 shares of the medical research company’s stock, valued at approximately $281,000.

Other institutional investors have also modified their holdings of the company. Condor Capital Management grew its holdings in Laboratory Co. of America by 0.4% during the 4th quarter. Condor Capital Management now owns 9,835 shares of the medical research company’s stock worth $3,090,000 after acquiring an additional 37 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in Laboratory Co. of America by 0.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,241 shares of the medical research company’s stock worth $2,589,000 after acquiring an additional 41 shares in the last quarter. Trust Investment Advisors grew its holdings in Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,395 shares of the medical research company’s stock worth $753,000 after acquiring an additional 42 shares in the last quarter. Wetherby Asset Management Inc. grew its holdings in Laboratory Co. of America by 3.0% during the 4th quarter. Wetherby Asset Management Inc. now owns 1,493 shares of the medical research company’s stock worth $469,000 after acquiring an additional 44 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its holdings in Laboratory Co. of America by 8.1% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 651 shares of the medical research company’s stock worth $205,000 after acquiring an additional 49 shares in the last quarter. 92.02% of the stock is owned by hedge funds and other institutional investors.

LH stock opened at $233.26 on Thursday. The company has a fifty day moving average price of $245.77 and a 200 day moving average price of $267.54. Laboratory Co. of America Holdings has a 12 month low of $212.40 and a 12 month high of $317.17. The company has a market cap of $21.62 billion, a price-to-earnings ratio of 10.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.81.

Laboratory Co. of America (NYSE:LH – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The medical research company reported $6.11 EPS for the quarter, beating the consensus estimate of $5.88 by $0.23. Laboratory Co. of America had a net margin of 13.24% and a return on equity of 23.84%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $8.79 EPS. Laboratory Co. of America’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, analysts anticipate that Laboratory Co. of America Holdings will post 19.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 9th. Investors of record on Thursday, May 19th were given a $0.72 dividend. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $2.88 annualized dividend and a yield of 1.23%. Laboratory Co. of America’s dividend payout ratio (DPR) is 13.22%.

Several research firms have commented on LH. StockNews.com began coverage on shares of Laboratory Co. of America in a report on Thursday, March 31st. They set a “buy” rating for the company. Truist Financial lowered their target price on shares of Laboratory Co. of America from $350.00 to $320.00 in a report on Friday, April 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Laboratory Co. of America from $294.00 to $265.00 in a report on Tuesday, May 3rd. Morgan Stanley lowered 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 lowered their target price on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating for the company in a report on Monday, April 25th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.72.

In other Laboratory Co. of America news, EVP Mark S. Schroeder sold 2,356 shares of the company’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $277.11, for a total transaction of $652,871.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R Sanders Williams sold 572 shares of the company’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $272.98, for a total transaction of $156,144.56. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Laboratory Co. of America Company Profile (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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