White Pine Capital LLC Takes $236,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

White Pine Capital LLC purchased a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,037 shares of the medical research company’s stock, valued at approximately $236,000.

Several other large investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its stake in shares of Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after acquiring an additional 1,237 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Laboratory Co. of America by 6.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock worth $1,711,000 after acquiring an additional 484 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $1,091,000. Cerity Partners LLC raised its stake in shares of Laboratory Co. of America by 8.6% during the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock worth $14,645,000 after acquiring an additional 5,105 shares in the last quarter. Finally, Duality Advisers LP bought a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $2,786,000. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LH shares. Barclays cut their price target on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Friday. Evercore ISI started 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 price target on the stock. SVB Leerink started 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 price target 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. Finally, Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

Laboratory Co. of America Stock Performance

NYSE LH traded up $0.05 during mid-day trading on Friday, reaching $198.40. 931,317 shares of the stock were exchanged, compared to its average volume of 745,511. The business’s 50 day moving average is $211.70 and its 200-day moving average is $214.75. 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 market capitalization of $16.69 billion, a P/E ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm posted $3.82 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Laboratory Co. of America Holdings will post 14.85 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 237 shares of the 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 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 accessible through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,695,872.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 237 shares of the 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 $1,729,398.65. The disclosure for this sale can be found here. Insiders have sold a total of 54,305 shares of company stock valued at $11,761,059 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

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).