Blue Trust Inc. Acquires 1,647 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Blue Trust Inc. increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1,128.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,793 shares of the medical research company’s stock after purchasing an additional 1,647 shares during the quarter. Blue Trust Inc.’s holdings in Laboratory Co. of America were worth $392,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of LH. Pathway Financial Advisers LLC bought a new position in shares of Laboratory Co. of America during the 1st quarter worth approximately $30,000. McClarren Financial Advisors Inc. grew its stake in shares of Laboratory Co. of America by 313.2% during the 1st quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after acquiring an additional 166 shares in the last quarter. Quent Capital LLC grew its stake in shares of Laboratory Co. of America by 88.4% during the 2nd quarter. Quent Capital LLC now owns 260 shares of the medical research company’s stock worth $53,000 after acquiring an additional 122 shares in the last quarter. Concord Wealth Partners grew its stake in shares of Laboratory Co. of America by 50.3% during 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. Finally, Disciplined Equity Management Inc. bought a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $68,000. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock traded up $2.94 during trading on Friday, reaching $227.50. The company’s stock had a trading volume of 438,285 shares, compared to its average volume of 717,040. The business’s 50-day moving average price is $210.92 and its 200-day moving average price is $210.49. The firm has a market cap of $19.18 billion, a PE ratio of 45.77, a P/E/G ratio of 1.76 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 $238.46. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39.

Laboratory Co. of America (NYSE:LH) last announced 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 company 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%. Laboratory Co. of America’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.42 earnings per share. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.27%. Laboratory Co. of America’s payout ratio is presently 57.95%.

Analyst Upgrades and Downgrades

LH has been the subject of several research reports. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Robert W. Baird raised their target price on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Truist Financial raised their target price on shares of 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 raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Evercore ISI raised their target price on shares of 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. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $247.42.

Insider Activity

In related news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

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).