Insight Inv LLC Increases Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Insight Inv LLC increased its position in Laboratory Co. of America Holdings (NYSE:LH) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,530 shares of the medical research company’s stock after buying an additional 45 shares during the quarter. Insight Inv LLC’s holdings in Laboratory Co. of America were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Laboratory Co. of America by 58.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock worth $352,563,000 after purchasing an additional 597,571 shares during the period. Bank of New York Mellon Corp lifted its position in Laboratory Co. of America by 135.0% during the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after buying an additional 924,881 shares in the last quarter. Norges Bank purchased a new stake in Laboratory Co. of America during the fourth quarter worth approximately $291,045,000. Northern Trust Corp increased its position in shares of Laboratory Co. of America by 3.0% in the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after acquiring an additional 33,493 shares in the last quarter. Finally, Veritas Investment Partners UK Ltd. raised its stake in shares of Laboratory Co. of America by 32.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after acquiring an additional 279,628 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the 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 sale, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,679 shares of company stock valued at $6,716,306. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 1.3 %

Shares of NYSE:LH opened at $226.84 on Tuesday. The firm has a market cap of $19.05 billion, a PE ratio of 45.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The company has a fifty day simple moving average of $219.22 and a 200 day simple moving average of $211.11. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $238.46.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the business posted $3.42 EPS. Laboratory Co. of America’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.67 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.88 annualized dividend and a yield of 1.27%. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LH. JPMorgan Chase & Co. decreased their price target 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. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays upped their price target on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $250.82.

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).