Foresight Global Investors Inc. Makes New $1.11 Million Investment in Laboratory Co. of America Holdings (NYSE:LH)

Foresight Global Investors Inc. purchased a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,475 shares of the medical research company’s stock, valued at approximately $1,114,000.

A number of other large investors also recently modified their holdings of LH. Insight Inv LLC grew its holdings in Laboratory Co. of America by 1.3% during the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after acquiring an additional 45 shares during the last quarter. Athena Investment Management grew its stake in shares of Laboratory Co. of America by 4.8% in the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock worth $212,000 after purchasing an additional 48 shares during the last quarter. Unison Advisors LLC increased its holdings in Laboratory Co. of America by 0.5% in the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock valued at $2,415,000 after purchasing an additional 51 shares during the period. Connecticut Wealth Management LLC raised its position in Laboratory Co. of America by 1.8% during the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after purchasing an additional 52 shares during the last quarter. Finally, Pure Financial Advisors LLC lifted its holdings in Laboratory Co. of America by 5.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock worth $222,000 after buying an additional 53 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LH shares. Evercore ISI increased their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Barclays raised their price target on shares of 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. Bank of America boosted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial increased their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, UBS Group boosted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average price target of $250.82.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock opened at $225.76 on Tuesday. The business has a 50-day simple moving average of $220.96 and a 200 day simple moving average of $211.28. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 45.42, a PEG ratio of 1.68 and a beta of 1.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $238.46.

Laboratory Co. of America (NYSE:LH) last issued its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share 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 analyst estimates of $3.19 billion. During the same period in the prior year, the firm earned $3.42 earnings per share. Laboratory Co. of America’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 14.67 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at approximately $833,273.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The disclosure for this sale can be found here. Insiders have sold 29,679 shares of company stock worth $6,716,306 in the last quarter. Insiders own 0.85% of the company’s stock.

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).