Everence Capital Management Inc. Acquires 3,290 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Everence Capital Management Inc. boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 82.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,300 shares of the medical research company’s stock after purchasing an additional 3,290 shares during the period. Everence Capital Management Inc.’s holdings in Laboratory Co. of America were worth $1,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. Neuberger Berman Group LLC boosted its stake in Laboratory Co. of America by 0.6% in the 4th quarter. Neuberger Berman Group LLC now owns 7,834 shares of the medical research company’s stock worth $1,845,000 after purchasing an additional 48 shares during the period. Guardian Wealth Management Inc. boosted its stake in Laboratory Co. of America by 1.0% in the 1st quarter. Guardian Wealth Management Inc. now owns 5,379 shares of the medical research company’s stock worth $1,418,000 after purchasing an additional 52 shares during the period. Caprock Group LLC boosted its stake in Laboratory Co. of America by 1.8% in the 4th quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after purchasing an additional 56 shares during the period. UMB Bank n.a. boosted its stake in Laboratory Co. of America by 22.1% in the 3rd quarter. UMB Bank n.a. now owns 315 shares of the medical research company’s stock worth $63,000 after purchasing an additional 57 shares during the period. Finally, Arjuna Capital boosted its stake in Laboratory Co. of America by 3.2% in the 3rd quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock worth $366,000 after purchasing an additional 57 shares during the period. Institutional investors own 95.94% of the company’s stock.

Insider Activity

In other news, COO Mark S. Schroeder sold 6,477 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the completion of 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mark S. Schroeder sold 6,477 shares of Laboratory Co. of America stock in a transaction on Monday, April 1st. The stock was sold at an average price of $217.29, for a total transaction of $1,407,387.33. Following the transaction, the chief operating officer now directly owns 5,036 shares of the company’s stock, valued at approximately $1,094,272.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,305 shares of company stock valued at $11,761,059. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE LH opened at $201.92 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 43.24, a P/E/G ratio of 1.53 and a beta of 1.01. The firm’s 50 day simple moving average is $215.10 and its 200 day simple moving average is $214.79. Laboratory Co. of America Holdings has a 1 year low of $174.20 and a 1 year high of $234.09.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, February 15th. The medical research company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.29 by $0.01. Laboratory Co. of America had a net margin of 3.24% and a return on equity of 13.99%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter last year, the business posted $4.14 earnings per share. The company’s quarterly revenue was down 17.5% on a year-over-year basis. As a group, research analysts expect that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm 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. This represents a $2.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is currently 61.67%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Laboratory Co. of America in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $222.00 price objective for the company. Argus upgraded shares of 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. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. SVB Leerink began coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price on the stock. Finally, TheStreet cut shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.50.

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).