Laboratory Co. of America Holdings (NYSE:LH) Holdings Lifted by Mcrae Capital Management Inc.

Mcrae Capital Management Inc. boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,387 shares of the medical research company’s stock after acquiring an additional 2,639 shares during the quarter. Laboratory Co. of America accounts for 3.8% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 10th biggest position. Mcrae Capital Management Inc. owned 0.10% of Laboratory Co. of America worth $16,767,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LH. Pathway Financial Advisers LLC acquired a new position in shares of Laboratory Co. of America in the 1st quarter valued at about $30,000. McClarren Financial Advisors Inc. raised its holdings in Laboratory Co. of America by 313.2% in the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock valued at $48,000 after buying an additional 166 shares during the period. Quent Capital LLC lifted its position in Laboratory Co. of America by 88.4% during the second quarter. Quent Capital LLC now owns 260 shares of the medical research company’s stock valued at $53,000 after buying an additional 122 shares in the last quarter. Concord Wealth Partners grew its stake in Laboratory Co. of America by 50.3% during the first quarter. Concord Wealth Partners now owns 275 shares of the medical research company’s stock worth $60,000 after buying an additional 92 shares during the period. Finally, Disciplined Equity Management Inc. acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth $68,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Barclays upped their target price on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Robert W. Baird increased their target price on Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $247.42.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the transaction, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at $833,273.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,679 shares of company stock worth $6,716,306. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 0.3 %

Shares of Laboratory Co. of America stock traded up $0.71 on Friday, hitting $230.89. 319,213 shares of the company’s stock traded hands, compared to its average volume of 704,664. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $238.46. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock has a market cap of $19.46 billion, a P/E ratio of 46.46, a PEG ratio of 1.76 and a beta of 1.05. The firm’s 50-day moving average is $214.04 and its 200 day moving average is $210.68.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.78 by $0.16. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.42 earnings per share. Equities analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.25%. Laboratory Co. of America’s payout ratio is 57.95%.

About Laboratory Co. of America

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).