Laboratory Co. of America Holdings (NYSE:LH) Stock Position Lifted by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp boosted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,871 shares of the medical research company’s stock after buying an additional 445 shares during the quarter. Peapack Gladstone Financial Corp owned approximately 0.11% of Laboratory Co. of America worth $21,110,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of Nova Scotia boosted its holdings in Laboratory Co. of America by 1,715.7% during the fourth quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock valued at $39,814,000 after acquiring an additional 165,528 shares during the period. Alexander Randolph Advisory Inc. bought a new stake in Laboratory Co. of America in the 4th quarter valued at $942,000. Handelsinvest Investeringsforvaltning acquired a new stake in Laboratory Co. of America in the 4th quarter worth $1,091,000. Cerity Partners LLC increased its holdings 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 purchasing an additional 5,105 shares during the period. Finally, Duality Advisers LP acquired a new position in shares of Laboratory Co. of America during the fourth quarter valued at about $2,786,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH traded up $0.10 on Monday, hitting $195.01. The company’s stock had a trading volume of 614,259 shares, compared to its average volume of 762,014. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The company has a market capitalization of $16.44 billion, a PE ratio of 39.22, a PEG ratio of 1.46 and a beta of 1.05. The company has a 50 day moving average price of $205.53 and a 200 day moving average price of $214.83. Laboratory Co. of America Holdings has a fifty-two week low of $180.15 and a fifty-two week high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the business posted $3.82 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.48%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 3,553 shares of Laboratory Co. of America stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $216.74, for a total value of $770,077.22. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Peter J. Wilkinson sold 2,439 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at $426,436.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 3,553 shares of Laboratory Co. of America stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $216.74, for a total transaction of $770,077.22. Following the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The disclosure for this sale can be found here. Insiders sold 23,744 shares of company stock worth $5,111,382 in the last quarter. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Robert W. Baird cut their target price on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Truist Financial decreased their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $241.86.

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).