California Public Employees Retirement System Increases Holdings in Laboratory Co. of America Holdings (NYSE:LH)

California Public Employees Retirement System boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,431 shares of the medical research company’s stock after acquiring an additional 1,979 shares during the quarter. California Public Employees Retirement System’s holdings in Laboratory Co. of America were worth $102,833,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Laboratory Co. of America by 20.6% during the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock valued at $500,033,000 after acquiring an additional 424,684 shares in the last quarter. Morgan Stanley raised its position in Laboratory Co. of America by 102.6% during the third quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock valued at $446,189,000 after acquiring an additional 1,123,755 shares in the last quarter. Lazard Asset Management LLC grew its holdings in 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 purchasing an additional 483,878 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Laboratory Co. of America by 644.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock valued at $257,522,000 after purchasing an additional 1,108,776 shares during the period. Finally, Northern Trust Corp grew its holdings in Laboratory Co. of America by 12.6% in the third quarter. Northern Trust Corp now owns 1,129,759 shares of the medical research company’s stock valued at $227,138,000 after purchasing an additional 126,602 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

NYSE LH opened at $207.92 on Wednesday. Laboratory Co. of America Holdings has a fifty-two week low of $174.20 and a fifty-two week high of $234.09. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a market capitalization of $17.49 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The stock’s fifty day moving average is $212.94 and its two-hundred day moving average is $214.85.

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

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be given a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.39%. Laboratory Co. of America’s dividend payout ratio is currently 61.67%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CMO Amy B. Summy sold 3,500 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total value of $760,515.00. Following the sale, the chief marketing officer now owns 3,975 shares in the company, valued at approximately $863,727.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Amy B. Summy sold 3,500 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $760,515.00. Following the completion of the sale, the chief marketing officer now owns 3,975 shares in the company, valued at approximately $863,727.75. The disclosure for this sale can be found here. Insiders have sold 54,305 shares of company stock worth $11,761,059 over the last quarter. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on LH shares. SVB Leerink started coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. TheStreet lowered Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Evercore ISI started coverage on Laboratory Co. of America in a report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price objective on the stock. Finally, Barclays started coverage on Laboratory Co. of America in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $222.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.50.

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).