GAMMA Investing LLC Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

GAMMA Investing LLC bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 711 shares of the medical research company’s stock, valued at approximately $158,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Trust Investment Advisors increased its position in Laboratory Co. of America by 1.8% during the 4th quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock worth $583,000 after purchasing an additional 46 shares during the period. Caprock Group LLC increased its position in Laboratory Co. of America by 1.8% during the 4th quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after purchasing an additional 56 shares during the period. UMB Bank n.a. increased its position in Laboratory Co. of America by 22.1% during the 3rd quarter. UMB Bank n.a. now owns 315 shares of the medical research company’s stock worth $63,000 after purchasing an additional 57 shares during the period. Arjuna Capital boosted its stake in shares of Laboratory Co. of America by 3.2% during the 3rd quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock worth $366,000 after acquiring an additional 57 shares in the last quarter. Finally, Greenleaf Trust boosted its stake in shares of Laboratory Co. of America by 2.5% during the 3rd quarter. Greenleaf Trust now owns 2,559 shares of the medical research company’s stock worth $514,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 227 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $218.45, for a total value of $49,588.15. Following the completion of the transaction, the chief marketing officer now directly owns 3,859 shares of the company’s stock, valued at approximately $842,998.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Der Vaart Sandra D. Van sold 259 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total transaction of $57,513.54. Following the transaction, the executive vice president now owns 7,637 shares of the company’s stock, valued at $1,695,872.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Amy B. Summy sold 227 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $49,588.15. Following the transaction, the chief marketing officer now directly owns 3,859 shares in the company, valued at approximately $842,998.55. The disclosure for this sale can be found here. In the last three months, insiders sold 54,305 shares of company stock worth $11,761,059. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 0.0 %

Shares of NYSE LH opened at $198.40 on Friday. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The company has a market cap of $16.69 billion, a P/E ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $211.70 and a 200 day moving average price of $214.66.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.46 by $0.22. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm earned $3.82 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts anticipate that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be issued a $0.72 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.45%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LH shares. Leerink Partnrs reissued an “outperform” rating on shares of Laboratory Co. of America in a research note on Monday, February 26th. Barclays reduced their target price on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Friday. TheStreet lowered Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Argus raised Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price on the stock in a research note on Monday, March 25th. Finally, Truist Financial reduced their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.14.

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).