Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Jensen Investment Management Inc.

Jensen Investment Management Inc. lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,590 shares of the medical research company’s stock after buying an additional 900 shares during the quarter. Jensen Investment Management Inc.’s holdings in Laboratory Co. of America were worth $8,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC boosted its holdings in Laboratory Co. of America by 185.4% in the first quarter. Empowered Funds LLC now owns 4,453 shares of the medical research company’s stock valued at $973,000 after purchasing an additional 2,893 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock valued at $5,072,000 after buying an additional 17,156 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Laboratory Co. of America by 2.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,771 shares of the medical research company’s stock worth $605,000 after acquiring an additional 59 shares in the last quarter. Forsta AP Fonden lifted its position in Laboratory Co. of America by 9.5% in the first quarter. Forsta AP Fonden now owns 18,400 shares of the medical research company’s stock valued at $4,020,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Laboratory Co. of America by 9.5% during the first quarter. Sei Investments Co. now owns 131,756 shares of the medical research company’s stock worth $28,784,000 after purchasing an additional 11,441 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $3.34 on Friday, hitting $242.39. The company’s stock had a trading volume of 854,652 shares, compared to its average volume of 644,964. The company has a market capitalization of $20.27 billion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.93 and a beta of 1.05. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $243.78. The firm has a fifty day moving average price of $223.02 and a 200-day moving average price of $214.34. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the business earned $3.38 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Analyst Ratings Changes

LH has been the subject of a number of research reports. Truist Financial boosted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. UBS Group increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, 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 note on Monday, August 5th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.92.

Insider Activity

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock worth $4,043,950 over the last three months. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.