Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Delphi Management Inc. MA

Delphi Management Inc. MA raised its stake in Laboratory Co. of America Holdings (NYSE:LH) by 134.9% in the second quarter, HoldingsChannel.com reports. The fund owned 8,246 shares of the medical research company’s stock after buying an additional 4,736 shares during the quarter. Delphi Management Inc. MA’s holdings in Laboratory Co. of America were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in LH. Bank of New York Mellon Corp lifted its position in Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock worth $327,616,000 after purchasing an additional 924,881 shares during the period. 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 in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Laboratory Co. of America by 25.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after purchasing an additional 395,197 shares during the last quarter. Select Equity Group L.P. bought a new stake in Laboratory Co. of America during the second quarter worth approximately $73,928,000. Finally, Veritas Investment Partners UK Ltd. grew its position in Laboratory Co. of America by 32.5% in the fourth quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock worth $259,133,000 after buying an additional 279,628 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on LH. Robert W. Baird increased their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Bank of America upped 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. Truist Financial boosted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Evercore ISI reduced their price objective on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th. Finally, Barclays lifted their target price on shares of 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $254.50.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $3,359,850.00. Following the completion of the sale, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’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 completion of the sale, the executive vice president now owns 3,670 shares of the company’s stock, valued at $833,273.50. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock worth $6,716,306 over the last ninety days. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Up 0.6 %

Shares of Laboratory Co. of America stock opened at $223.48 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. The firm has a market cap of $18.84 billion, a price-to-earnings ratio of 44.97, a P/E/G ratio of 1.74 and a beta of 1.06. The stock has a 50-day simple moving average of $223.73 and a 200-day simple moving average of $211.73. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $238.46.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion during 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 company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.42 earnings per share. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

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).