Sivik Global Healthcare LLC Buys New Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Sivik Global Healthcare LLC purchased a new position in Laboratory Co. of America Holdings (NYSE:LH) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 15,000 shares of the medical research company’s stock, valued at approximately $3,409,000.

A number of other hedge funds have also recently added to or reduced their stakes in LH. Raymond James Financial Services Advisors Inc. raised 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 worth $5,097,000 after purchasing an additional 1,237 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Laboratory Co. of America by 6.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock valued at $1,711,000 after buying an additional 484 shares during the last quarter. Alexander Randolph Advisory Inc. bought a new position in Laboratory Co. of America during the 4th quarter valued at $942,000. Handelsinvest Investeringsforvaltning purchased a new position in Laboratory Co. of America during the 4th quarter worth $1,091,000. Finally, 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 worth $14,645,000 after acquiring an additional 5,105 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

LH traded down $2.80 during trading on Tuesday, reaching $201.37. 890,464 shares of the company were exchanged, compared to its average volume of 768,185. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The company’s 50-day moving average is $211.16 and its two-hundred day moving average is $214.89. 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 market cap of $16.94 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.49 and a beta of 1.01.

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 $3.48 by $0.20. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.82 earnings per share. Research analysts forecast that Laboratory Co. of America Holdings will post 14.85 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LH shares. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They set an “outperform” rating and a $260.00 price target on the stock. Evercore ISI began coverage on Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 price target for the company. Robert W. Baird cut their price objective on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday. Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research note on Monday, March 25th. Finally, TheStreet cut Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $243.14.

Insider Activity

In other news, CFO Glenn A. Eisenberg sold 34,504 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the transaction, the chief financial officer now directly owns 23,595 shares in the company, valued at approximately $5,095,812.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Glenn A. Eisenberg sold 34,504 shares of Laboratory Co. of America stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the transaction, the chief financial officer now owns 23,595 shares in the company, valued at approximately $5,095,812.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the sale, 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. In the last quarter, insiders have sold 54,305 shares of company stock worth $11,761,059. 0.85% of the stock is currently owned by corporate insiders.

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).