PNC Financial Services Group Inc. Has $8.93 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

PNC Financial Services Group Inc. raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,296 shares of the medical research company’s stock after purchasing an additional 531 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Laboratory Co. of America were worth $8,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of LH. Provence Wealth Management Group acquired a new stake in Laboratory Co. of America in the 3rd quarter valued at $29,000. Mendota Financial Group LLC acquired a new stake in shares of Laboratory Co. of America during the fourth quarter worth approximately $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $60,000. Disciplined Equity Management Inc. acquired a new position in shares of Laboratory Co. of America in the 4th quarter worth approximately $68,000. Finally, Oakworth Capital Inc. grew its position in Laboratory Co. of America by 48.1% during the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock worth $70,000 after acquiring an additional 100 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CMO Amy B. Summy sold 227 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the sale, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 227 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total value of $49,588.15. Following the transaction, the chief marketing officer now directly owns 3,859 shares in the company, valued at approximately $842,998.55. The disclosure for this sale can be found here. Insiders have sold a total of 23,744 shares of company stock worth $5,111,382 over the last three months. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

LH opened at $201.12 on Thursday. The stock has a market cap of $16.95 billion, a P/E ratio of 40.47, a P/E/G ratio of 1.54 and a beta of 1.02. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $207.52 and a 200 day simple moving average of $215.29.

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 the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $3.82 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays decreased their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Evercore ISI assumed 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 objective for the company. 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 report on Monday, March 25th. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Finally, TheStreet downgraded Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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).