Sequoia Financial Advisors LLC Increases Shareholding in Laboratory Co of America Holdings (NYSE:LH)

Financial Advisors


Sequoia Financial Advisors LLC increased its stake in Laboratory Company of America Holdings (NYSE: LH – Get Rating) by 5.9% in the fourth quarter, according to a new disclosure to the Securities and Exchange Commission. The institutional investor held 47,845 shares in the medical research company after purchasing an additional 2,659 shares during the quarter. Sequoia Financial Advisors LLC owned $11,267,000, or approximately 0.05% of the stock of Laboratory Co. of America at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares in the company. BlackRock increased its stake in Laboratory Company of America by 2.3% in the third quarter. BlackRock Inc. purchased an additional 252,118 shares last quarter and now owns 11,436,397 shares in the medical research company, valued at $2,342,288,000. Vanguard Group Inc. increased his stake in Laboratory Co. of America by 1.0% in the first quarter. Vanguard Group Inc. purchased an additional 106,063 shares during the previous quarter and now owns 10,859,128 shares of the medical research company worth $2,863,118,000. UBS Asset Management Americas increased his stake in Laboratory Company of America by 1.0% in the third quarter. UBS Asset Management Americas, Inc. purchased an additional 12,157 shares during the previous quarter and now owns 1,217,674 shares in the medical research company, valued at $249,392,000. First Trust Advisors LP increased its stake in Laboratory Co. of America by 2.0% in the third quarter. First Trust Advisors LP purchased an additional 16,579 shares during the last quarter and now owns 852,919 shares of the medical research company, valued at $174,686,000. Finally, Nordea Investment Management AB increased its stake in Laboratory Co. of America by 40.8% in the fourth quarter. Nordea Investment Management AB purchased an additional 234,621 shares during the previous quarter and now owns 809,242 shares in the medical research company, valued at $190.18 million. Hedge funds and other institutional investors own 89.70% of the company’s shares.

Analysts set new price target

LH has been the subject of several recent analyst reports. Robert W. Baird raised his price target on Laboratory Company of America to $300 in a research report on Friday, Feb. 17, giving the stock an “outperform” rating. Trust Financial lowered its price target on Laboratory Company of America from $285.00 to $275.00 in a research note on Monday, May 1. On Friday, May 12, StockNews.com upgraded Laboratory Company of America’s rating from “hold” to “buy” in a research note. Credit Suisse Group lowered its price target on Laboratory Company of America from $304.00 to $288.00 in its report on Monday, March 13, setting the company’s rating to “outperform.” Finally, Citigroup lowered its price target on Laboratory Company of America from $260.00 to $235.00 in a report on Wednesday, April 26th. Two analysts have a Hold rating on the stock, while eight analysts have a Buy rating. According to MarketBeat data, the company currently has an average rating of “moderate buy” and a consensus price target of $273.50.

Laboratories shares drop 0.7%

NYSE:LH fell $1.54 in intraday trading on Tuesday to reach $217.08. The stock traded 241,052 shares with an average turnover of 594,957 shares. Laboratory Company of America Holdings hit a one-year low of $200.32 and a one-year high of $263.13. The company has a market capitalization of $19.23 billion, a price/earnings multiple of 19.84, and a beta of 1.04. The stock has a 50-day simple moving average of $224.51 and a 200-day simple moving average of $235.13. The company has a debt to equity ratio of 0.50, a current ratio of 1.63 and a quick ratio of 1.46.

Laboratory Co. of America (NYSE: LH – Get Rating) last reported earnings on Tuesday, April 25th. The medical research firm reported EPS of $3.82 for the quarter, below consensus expectations of $3.99 ($0.17). The company had revenue of $3.78 billion in the quarter, compared with consensus expectations of $3.7 billion. Laboratory Co. of America had a return on equity of 15.56% and a net profit margin of 6.78%. Laboratory Co. of America revenues for the quarter were down 3.1% year-over-year. The company’s EPS in the year-ago quarter was $6.11. Equity analysts expect EPS of $16.83 this year for Laboratory Company of America Holdings.

Laboratory Company of America Announces Dividend

The company also recently announced a quarterly dividend to be paid on Thursday, June 8. Shareholders of record on Thursday, May 18 will receive a dividend of $0.72 per share. This equates to an annual dividend of $2.88 and a yield of 1.33%. The ex-dividend date for this dividend will be Wednesday, May 17. The payout ratio for Laboratory Company of America is 26.13%.

insider bet

In related news, EVP Mark S. Schroeder sold 3,897 shares of the company in a transaction on Friday, March 31. The shares were sold at an average price of $225.81 for a total of $879,981.57. Following the closing of the sale, the Executive Vice President will own directly 6,687 shares of the company, valued at $1,509,991.47. The sale was disclosed in filings with the Securities and Exchange Commission, which are available on the SEC’s website. In related news, EVP Mark S. Schroeder sold 3,897 shares of the company in a transaction on Friday, March 31. The shares were sold at an average price of $225.81 for a total of $879,981.57. Following the closing of the sale, the Executive Vice President will own directly 6,687 shares of the company, valued at $1,509,991.47. The sale was disclosed in filings with the Securities and Exchange Commission, which are available on the SEC’s website. CEO Paul R. Kirchgraber also sold 4,300 shares of the company in a deal on Friday, May 19. The stock sold at an average price of $216.91, giving him a trading value of $932,713.00. Following the transaction, the CEO now owns 12,946 shares of the company directly, valued at approximately $2,808,116.86. Disclosure information regarding this sale can be found here. In the past three months, insiders have sold 9,697 shares of the company, valued at $2,137,850. Corporate insiders own 0.65% of the company’s stock.

Laboratory Company of America Profile

(get rating)

Laboratory Corp. of America Holdings operates as a life sciences company committed to providing critical information to help medical professionals make clear and confident decisions. It operates through its Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety evaluation, analytical services, clinical trials, central laboratories, biomarkers, companion diagnostics, market access and technology solutions.

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Want to know if other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Laboratory Co. of America Holdings (NYSE: LH – Get Rating).

Laboratory Co. of America (NYSE:LH) Quarterly Institutional Ownership

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments regarding this story to contact@marketbeat.com.

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