1832 Asset Management L.P. Purchases 244 Shares of Laboratory Co. of America Holdings (NYSE:LH)

1832 Asset Management L.P. grew its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,657 shares of the medical research company’s stock after purchasing an additional 244 shares during the quarter. 1832 Asset Management L.P.’s holdings in Laboratory Co. of America were worth $2,110,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mendota Financial Group LLC bought a new stake in Laboratory Co. of America in the fourth quarter valued at approximately $29,000. McClarren Financial Advisors Inc. boosted its position in Laboratory Co. of America by 313.2% during the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock valued at $48,000 after acquiring an additional 166 shares during the last quarter. Concord Wealth Partners raised its position in shares of Laboratory Co. of America by 50.3% in the 1st quarter. Concord Wealth Partners now owns 275 shares of the medical research company’s stock worth $60,000 after acquiring an additional 92 shares in the last quarter. Disciplined Equity Management Inc. acquired a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $68,000. Finally, Oakworth Capital Inc. boosted its position in shares of Laboratory Co. of America by 48.1% during the 4th quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 100 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other news, CAO Peter J. Wilkinson sold 2,439 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $204.33, for a total transaction of $498,360.87. Following the transaction, the chief accounting officer now owns 2,087 shares of the company’s stock, valued at approximately $426,436.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total transaction of $50,025.00. Following the sale, the director now owns 15,722 shares of the company’s stock, valued at approximately $3,145,972.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter J. Wilkinson sold 2,439 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the transaction, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at $426,436.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,939 shares of company stock valued at $1,021,078. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of NYSE LH traded up $1.18 during mid-day trading on Friday, reaching $210.90. 395,638 shares of the company’s stock were exchanged, compared to its average volume of 495,470. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The firm has a 50-day moving average price of $203.26 and a two-hundred day moving average price of $210.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week high of $234.09.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company earned $3.82 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts predict that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Wall Street Analysts Forecast Growth

LH has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Truist Financial decreased their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Robert W. Baird raised their target price on Laboratory Co. of America from $258.00 to $261.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Evercore ISI raised their price objective 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. Finally, StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and a consensus price target of $241.29.

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).