Madison Asset Management LLC increases stake in Laboratory Co. of America Holdings (NYSE:LH)

Madison Asset Management LLC increased its holdings in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 18.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The company owned 342,704 shares of the medical research company after purchasing an additional 53,136 shares during the quarter. Madison Asset Management LLC owned about 0.40% of Laboratory Co. of America valued at $77,893,000 at the end of the last quarter.

Other hedge funds have also been buying and selling shares of the company. Alexander Randolph Advisory Inc. acquired a new stake in Laboratory Co. of America in the 4th quarter valued at $942,000. Handelsinvest Investeringsforvaltning acquired a new stake in Laboratory Co. of America in the 4th quarter valued at $1,091,000. Cerity Partners LLC increased its stake in 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 purchasing an additional 5,105 shares in the last quarter. Duality Advisers LP acquired a new stake in Laboratory Co. of America in the 4th quarter valued at $2,786,000. Finally, Westpac Banking Corp increased its stake in Laboratory Co. of America by 10.2% in the 4th quarter. Westpac Banking Corp now owns 5,975 shares of the medical research company's stock valued at $1,358,000 after acquiring an additional 555 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Changes in analyst ratings

LH has been the subject of numerous analyst reports. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Argus raised their rating on Laboratory Co. of America from “hold” to “buy” and set a $250.00 price target for the company in a research report on Monday, March 25th. TheStreet downgraded Laboratory Co. of America from “b-” to “c+” in a research report on Thursday, February 15th. Robert W. Baird reduced their price target on Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, SVB Leerink initiated coverage on Laboratory Co. of America in a research report on Monday, February 26th. They gave the company an “outperform” rating and a $260.00 price target. Three investment analysts have rated the stock a “hold” rating and twelve have given the company's stock a “buy” rating. According to data from MarketBeat.com, the stock has an average rating of “moderate buy” and a consensus price target of $241.86.

Get our latest research report on Laboratory Co. of America

Insider buying and selling

In related news, CAO Peter J. Wilkinson sold 2,439 shares of the company's stock in a transaction that took place on Monday, April 29. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Peter J. Wilkinson sold 2,439 shares of the company's stock in a transaction that took place on Monday, April 29. The shares were sold at an average price of $204.33, for a total value of $498,360.87. Following the transaction, the Chief Accounting Officer now directly owns 2,087 shares of the company's stock, valued at approximately $426,436.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Amy B. Summy sold 227 shares of the company's stock in a transaction that occurred on Thursday, March 7. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the transaction, the marketing executive now directly owns 3,859 shares of the company's stock, valued at $842,998.55. The disclosure for this sale can be found here. Insiders have sold 23,744 shares of the company's stock in the last 90 days, valued at $5,111,382. Insiders own 0.85% of the company's stock.

Laboratory Co. of America is up 0.8%

LH rose $1.47 during midday trading on Friday, reaching $194.91. 1,255,709 shares of the company traded hands, compared to an average volume of 689,018. The company has a 50-day moving average of $205.53 and a 200-day moving average of $214.79. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 1.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. Laboratory Co. of America Holdings has a 52-week low of $174.20 and a 52-week high of $234.09.

Laboratory Co. of America (NYSE:LH – Get Free Report) last released its quarterly earnings results on Thursday, April 25. The medical research company reported $3.68 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.12 billion. In the same quarter last year, the company reported earnings per share of $3.82. Laboratory Co. of America's quarterly revenue grew 4.6% compared to the same quarter last year. On average, equities analysts expect that Laboratory Co. of America Holdings will report earnings per share of $14.87 for the current fiscal year.

Laboratory Co. of America announces dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12. Investors of record on Tuesday, May 28th will receive a dividend of $0.72. The ex-dividend date of this dividend is Friday, May 24th. This represents an annualized dividend of $2.88 and a dividend yield of 1.48%. Laboratory Co. of America's payout ratio is currently 57.95%.

Profile of Laboratory Co. of America

(Free report)

Laboratory Corporation of America Holdings is a life sciences company that provides critical information that helps physicians, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. The company operates through two segments: Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).

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