Stevens Capital Management LP Makes New $224,000 Investment in Laboratory Co. of America Holdings (NYSE:LH)

Stevens Capital Management LP acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 985 shares of the medical research company’s stock, valued at approximately $224,000.

A number of other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Laboratory Co. of America by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock valued at $5,097,000 after buying an additional 1,237 shares during the period. Daiwa Securities Group Inc. grew its holdings in 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 during the period. Handelsinvest Investeringsforvaltning acquired a new stake in Laboratory Co. of America during the 4th quarter worth about $1,091,000. Cerity Partners LLC grew its stake in shares of Laboratory Co. of America by 8.6% in the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock valued at $14,645,000 after buying an additional 5,105 shares during the period. Finally, Duality Advisers LP acquired a new stake in shares of Laboratory Co. of America in the 4th quarter valued at about $2,786,000. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Argus upgraded 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 note on Monday, March 25th. Truist Financial cut their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Barclays cut 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 research note on Friday. Finally, Robert W. Baird cut their target price on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.44.

Laboratory Co. of America Stock Performance

LH stock traded up $0.05 during midday trading on Friday, reaching $198.40. 931,285 shares of the company’s stock traded hands, compared to its average volume of 758,681. The company has a 50-day moving average price of $212.06 and a two-hundred day moving average price of $214.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.02 and a current ratio of 1.17. Laboratory Co. of America Holdings has a 52 week low of $174.20 and a 52 week high of $234.09. The firm has a market capitalization of $16.69 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

Laboratory Co. of America (NYSE:LH) last issued its 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 $3.46 by $0.22. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.82 EPS. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. Laboratory Co. of America’s payout ratio is currently 61.67%.

Insider Transactions at Laboratory Co. of America

In other news, COO Mark S. Schroeder sold 6,477 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the transaction, the chief operating officer now owns 5,036 shares of the company’s stock, valued at $1,094,272.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Mark S. Schroeder sold 6,477 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total value of $1,407,387.33. Following the completion of the transaction, the chief operating officer now directly owns 5,036 shares in the company, valued at $1,094,272.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was 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 owns 3,859 shares of the company’s stock, valued at $842,998.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,305 shares of company stock valued at $11,761,059. 0.85% of the stock is currently owned by company insiders.

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).