Cannell & Co. Has $77.48 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Cannell & Co. increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 62.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,869 shares of the medical research company’s stock after acquiring an additional 130,449 shares during the period. Laboratory Co. of America makes up approximately 2.5% of Cannell & Co.’s investment portfolio, making the stock its 8th biggest position. Cannell & Co. owned approximately 0.40% of Laboratory Co. of America worth $77,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Provence Wealth Management Group acquired a new stake in Laboratory Co. of America during the third quarter valued at approximately $29,000. Mendota Financial Group LLC acquired a new stake in Laboratory Co. of America during the fourth quarter valued at approximately $29,000. Tradewinds Capital Management LLC acquired a new stake in Laboratory Co. of America during the third quarter valued at approximately $34,000. Exchange Traded Concepts LLC acquired a new stake in Laboratory Co. of America during the third quarter valued at approximately $37,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Laboratory Co. of America during the fourth quarter valued at approximately $60,000. 95.94% of the stock is currently owned by institutional investors.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction dated 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 approximately $1,729,398.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,500 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The disclosure for this sale can be found here. In the last three months, insiders sold 54,305 shares of company stock valued at $11,761,059. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 0.6 %

Shares of LH traded down $1.15 during mid-day trading on Wednesday, hitting $200.22. 211,486 shares of the company’s stock were exchanged, compared to its average volume of 761,305. The firm has a fifty day moving average of $211.16 and a two-hundred day moving average of $214.89. Laboratory Co. of America Holdings has a twelve month low of $174.20 and a twelve month high of $234.09. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.54 and a beta of 1.01. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last announced 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 net margin of 3.52% and a return on equity of 14.68%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $3.82 EPS. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, May 28th. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

LH has been the subject of several research analyst reports. Evercore ISI initiated coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They issued an “in-line” rating and a $240.00 price target for the company. TheStreet downgraded shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research report on Thursday, February 15th. Barclays reduced their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research report on Monday, March 25th. Finally, Robert W. Baird reduced their price target on shares of 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

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).