Clear Harbor Asset Management LLC Acquires 430 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Clear Harbor Asset Management LLC grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,433 shares of the medical research company’s stock after purchasing an additional 430 shares during the period. Clear Harbor Asset Management LLC’s holdings in Laboratory Co. of America were worth $699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Laboratory Co. of America by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock valued at $25,012,000 after acquiring an additional 2,934 shares in the last quarter. Northern Trust Corp lifted its holdings in Laboratory Co. of America by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after buying an additional 33,493 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Laboratory Co. of America by 17.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock worth $22,069,000 after buying an additional 14,708 shares during the period. Bank of Nova Scotia lifted its holdings in Laboratory Co. of America by 1,715.7% during the 4th quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock worth $39,814,000 after buying an additional 165,528 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Laboratory Co. of America by 283.1% during the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after buying an additional 17,156 shares during the period. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. 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. Bank of America boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. decreased their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Robert W. Baird boosted their price objective on Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Barclays boosted their price objective on 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. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.42.

Insider Transactions at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 586 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares of the company’s stock, valued at $3,312,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock traded up $3.44 during trading hours on Friday, reaching $228.00. The company’s stock had a trading volume of 222,265 shares, compared to its average volume of 715,514. The firm has a 50 day moving average price of $210.31 and a 200-day moving average price of $210.49. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $238.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The stock has a market cap of $19.22 billion, a P/E ratio of 45.18, a P/E/G ratio of 1.76 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.78 by $0.16. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.42 EPS. On average, analysts predict that Laboratory Co. of America Holdings will post 14.84 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a $0.72 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. Laboratory Co. of America’s payout ratio 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).