Desjardins Global Asset Management Inc. Increases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Desjardins Global Asset Management Inc. lifted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 85.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,587 shares of the medical research company’s stock after buying an additional 3,487 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Laboratory Co. of America were worth $1,724,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Marietta Wealth Management LLC lifted its stake in shares of Laboratory Co. of America by 0.6% in the 4th quarter. Marietta Wealth Management LLC now owns 12,832 shares of the medical research company’s stock worth $2,917,000 after purchasing an additional 81 shares during the period. SVB Wealth LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $201,000. Capital Analysts LLC lifted its stake in shares of Laboratory Co. of America by 5.4% in the 4th quarter. Capital Analysts LLC now owns 16,412 shares of the medical research company’s stock worth $3,730,000 after purchasing an additional 837 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Laboratory Co. of America by 9.4% in the 4th quarter. Mackenzie Financial Corp now owns 17,610 shares of the medical research company’s stock worth $4,003,000 after purchasing an additional 1,507 shares during the period. Finally, Louisiana State Employees Retirement System bought a new stake in Laboratory Co. of America during the 4th quarter worth approximately $1,159,000. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Down 0.7 %

Laboratory Co. of America stock opened at $201.92 on Wednesday. The firm’s 50 day moving average price is $215.10 and its 200-day moving average price is $214.79. 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 0.52, a current ratio of 1.17 and a quick ratio of 1.02. The stock has a market cap of $16.99 billion, a P/E ratio of 43.24, a PEG ratio of 1.53 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period last year, the firm posted $4.14 earnings per share. Laboratory Co. of America’s revenue for the quarter was down 17.5% compared to the same quarter last year. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 61.67%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent analyst reports. SVB Leerink initiated coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They set an “outperform” rating and a $260.00 target price on the stock. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Evercore ISI initiated coverage on shares of Laboratory Co. of America in a research note on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Finally, TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.50.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the transaction, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the transaction, the chief financial officer now directly owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is owned by corporate insiders.

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).