Leeward Investments LLC MA Has $16.85 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Leeward Investments LLC MA boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 5.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 77,106 shares of the medical research company’s stock after acquiring an additional 3,650 shares during the quarter. Leeward Investments LLC MA’s holdings in Laboratory Co. of America were worth $16,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LH. Norges Bank purchased a new position in shares of Laboratory Co. of America during the fourth quarter valued at approximately $291,045,000. Morgan Stanley boosted its holdings in Laboratory Co. of America by 102.6% during the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after acquiring an additional 1,123,755 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock worth $352,563,000 after acquiring an additional 597,571 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Laboratory Co. of America by 536.0% in the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock valued at $108,653,000 after purchasing an additional 455,462 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of 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 purchasing an additional 424,684 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent analyst reports. Barclays reduced their price objective 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 raised 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. Truist Financial dropped their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Robert W. Baird reduced their price objective 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. Finally, StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.86.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares in the company, valued at $1,188,448.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Peter J. Wilkinson sold 2,439 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the sale, the chief accounting officer now owns 2,087 shares of the company’s stock, valued at approximately $426,436.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the transaction, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The disclosure for this sale can be found here. Insiders sold a total of 4,939 shares of company stock valued at $1,021,078 over the last 90 days. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of LH traded up $1.13 during mid-day trading on Thursday, reaching $203.86. 408,054 shares of the stock traded hands, compared to its average volume of 597,219. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $234.09. The company has a market cap of $17.19 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. The firm has a fifty day moving average price of $202.07 and a 200 day moving average price of $212.55.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data 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 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 analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm earned $3.82 earnings per share. Laboratory Co. of America’s revenue was up 4.6% on a year-over-year basis. As a group, equities research analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were given a dividend of $0.72 per share. The ex-dividend date was Friday, May 24th. This represents a $2.88 dividend on an annualized basis and a yield of 1.41%. Laboratory Co. of America’s payout ratio is 57.95%.

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).