First Hawaiian Bank Trims Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

First Hawaiian Bank decreased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 5.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,219 shares of the medical research company’s stock after selling 391 shares during the period. First Hawaiian Bank’s holdings in Laboratory Co. of America were worth $1,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Paralel Advisors LLC increased its position in Laboratory Co. of America by 1.3% during the 3rd quarter. Paralel Advisors LLC now owns 8,345 shares of the medical research company’s stock worth $1,678,000 after purchasing an additional 104 shares during the period. Rafferty Asset Management LLC increased its position in Laboratory Co. of America by 7.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 9,241 shares of the medical research company’s stock worth $1,858,000 after purchasing an additional 607 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Laboratory Co. of America in the 3rd quarter worth approximately $2,123,000. Envestnet Asset Management Inc. grew its holdings in shares of Laboratory Co. of America by 47.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 382,293 shares of the medical research company’s stock worth $76,860,000 after acquiring an additional 123,681 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Laboratory Co. of America by 16.9% in the 3rd quarter. Invesco Ltd. now owns 753,113 shares of the medical research company’s stock worth $151,413,000 after acquiring an additional 109,128 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 2.5 %

Shares of Laboratory Co. of America stock opened at $206.50 on Thursday. Laboratory Co. of America Holdings has a fifty-two week low of $189.68 and a fifty-two week high of $234.09. The firm has a market cap of $17.41 billion, a PE ratio of 41.55, a P/E/G ratio of 1.55 and a beta of 1.04. The business’s fifty day moving average is $201.82 and its two-hundred day moving average is $213.52. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping 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. During the same quarter in the prior year, the company posted $3.82 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 250 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total value of $50,025.00. Following the transaction, the director now directly owns 15,722 shares of the company’s stock, valued at approximately $3,145,972.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 250 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now directly owns 15,722 shares in the company, valued at $3,145,972.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,469 shares of company stock valued at $3,959,058. 0.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LH. Barclays lowered their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Leerink Partnrs restated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. SVB Leerink began coverage on Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target on the stock. StockNews.com cut Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Finally, Argus upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a report on Monday, March 25th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $241.86.

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).