Cooper Financial Group Buys 751 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Cooper Financial Group raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 21.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,190 shares of the medical research company’s stock after buying an additional 751 shares during the quarter. Cooper Financial Group’s holdings in Laboratory Co. of America were worth $952,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Roundview Capital LLC increased its stake in shares of Laboratory Co. of America by 1.6% in the 1st quarter. Roundview Capital LLC now owns 7,793 shares of the medical research company’s stock valued at $2,055,000 after acquiring an additional 124 shares in the last quarter. LSV Asset Management increased its stake in Laboratory Co. of America by 1.2% during the 1st quarter. LSV Asset Management now owns 34,800 shares of the medical research company’s stock valued at $9,175,000 after purchasing an additional 400 shares in the last quarter. Synovus Financial Corp increased its stake in Laboratory Co. of America by 105.7% during the 1st quarter. Synovus Financial Corp now owns 1,654 shares of the medical research company’s stock valued at $441,000 after purchasing an additional 850 shares in the last quarter. Cibc World Market Inc. bought a new stake in Laboratory Co. of America during the 1st quarter valued at $213,000. Finally, Sei Investments Co. increased its stake in Laboratory Co. of America by 18.9% during the 1st quarter. Sei Investments Co. now owns 89,167 shares of the medical research company’s stock valued at $23,543,000 after purchasing an additional 14,186 shares in the last quarter. 89.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the sale, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 34,504 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan P. Divincenzo sold 500 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.49, for a total value of $107,745.00. Following the completion of the transaction, the executive vice president now directly owns 3,401 shares in the company, valued at $732,881.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,775 shares of company stock worth $8,823,080. 0.65% of the stock is owned by corporate insiders.

Laboratory Co. of America Price Performance

LH traded up $1.97 during midday trading on Friday, hitting $213.26. The stock had a trading volume of 806,721 shares, compared to its average volume of 866,204. The company has a market cap of $17.94 billion, a P/E ratio of 45.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The business has a fifty day moving average of $219.58 and a 200 day moving average of $213.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, February 15th. The medical research company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.29 by $0.01. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.02 billion. Laboratory Co. of America had a return on equity of 13.99% and a net margin of 3.24%. The firm’s revenue was down 17.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.14 earnings per share. As a group, equities analysts forecast that Laboratory Co. of America Holdings will post 14.77 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 27th were issued a dividend of $0.72 per share. The ex-dividend date was Monday, February 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.35%. Laboratory Co. of America’s payout ratio is presently 61.67%.

Analyst Ratings Changes

A number of analysts have commented on the stock. TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 price objective on the stock. Barclays assumed coverage on shares of Laboratory Co. of America in a report on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price objective on the stock. Evercore ISI started coverage on shares of Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target on the stock. 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 ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.07.

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).