Spire Wealth Management trims stock position in Laboratory Co. of America Holdings (NYSE: LH)



Spire Wealth Management reduced its stake in Laboratory Co. of America Holdings (NYSE: LH – Get Rating) by 68.3% during the 1st quarter, reports Holdings Channel. The company held 1,156 shares of the medical research company after selling 2,494 shares during the quarter. Spire Wealth Management’s holdings in Laboratory Co. of America were worth $305,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LH. Arrow Financial Corp raised its position in shares of Laboratory Co. of America by 100.0% in the fourth quarter. Arrow Financial Corp now owns 100 shares of the medical research company valued at $31,000 after buying 50 more shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $31,000. Allworth Financial LP acquired a new position in shares of Laboratory Co. of America in the fourth quarter valued at around $34,000. Newbridge Financial Services Group Inc. raised its position in shares of Laboratory Co. of America by 300.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 160 shares of the medical research company valued at $50,000 after buying an additional 120 shares in the last quarter. Finally, Allegheny Financial Group LTD acquired a new position in Laboratory Co. of America during the fourth quarter worth approximately $50,000. 92.02% of the shares are held by institutional investors and hedge funds.

Shares of LH opened at $240.94 on Friday. The company has a market capitalization of $22.34 billion, a PE ratio of 11.06 and a beta of 1.04. The company has a fifty-day simple moving average of $241.29 and a 200-day simple moving average of $264.72. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt ratio of 0.51. Laboratory Co. of America Holdings has a 12-month low of $212.40 and a 12-month high of $317.17.

Laboratory Co. of America (NYSE: LH – Get Rating) last announced its results on Thursday, April 28. The medical research company reported earnings per share of $6.11 for the quarter, beating the consensus estimate of $5.88 by $0.23. The company posted revenue of $3.90 billion in the quarter, versus a consensus estimate of $4.01 billion. Laboratory Co. of America achieved a net margin of 13.24% and a return on equity of 23.84%. The company’s quarterly revenue fell 7.1% from the same quarter last year. In the same period a year earlier, the company earned earnings per share of $8.79. Equity research analysts expect Laboratory Co. of America Holdings to post EPS of 19.68 for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 9. Shareholders of record on Thursday, May 19 received a dividend of $0.72. The ex-dividend date was Wednesday, May 18. This represents an annualized dividend of $2.88 and a dividend yield of 1.20%. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 13.22%.

Several equity analysts have recently commented on LH shares. Truist Financial lowered its price target on shares of Laboratory Co. of America from $350.00 to $320.00 in a Friday, April 29 research report. Deutsche Bank Aktiengesellschaft lowered its price target on shares of Laboratory Co. of America from $294.00 to $265.00 in a Tuesday, May 3 research report. Morgan Stanley lowered its price target on shares of Laboratory Co. of America from $360.00 to $300.00 and set an “overweight” rating for the company in a Wednesday, May 25 research report. StockNews.com began covering Laboratory Co. of America stocks in a research report on Thursday, March 31. They set a “buy” rating for the company. Finally, Wells Fargo & Company lowered its price target on shares of Laboratory Co. of America from $290.00 to $235.00 and set an “equal weight” rating for the company in a research report from the Monday, April 25. Two research analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.72.

Profile of Laboratory Co. of America (Get a rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various tests, such as blood chemistry tests, urine tests, blood counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate specific antigens, tests for sexually transmitted diseases, tests for hepatitis C, cultures and microbiology procedures, and alcohol and other drug tests.

See also

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

Institutional ownership by quarter for Laboratory Co. of America (NYSE: LH)



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