Insight Inv LLC Grows Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Insight Inv LLC raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,530 shares of the medical research company’s stock after acquiring an additional 45 shares during the period. Insight Inv LLC’s holdings in Laboratory Co. of America were worth $718,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America during the second quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Laboratory Co. of America during the 1st quarter worth $30,000. Innealta Capital LLC acquired a new stake in shares of Laboratory Co. of America in the 2nd quarter worth $32,000. Family Firm Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. increased its stake in shares of Laboratory Co. of America by 313.2% during the first 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 during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Bank of America upped their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, Robert W. Baird upped their price target on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $250.82.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. The transaction 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 company’s stock in a transaction on Thursday, August 8th. The stock was 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 in the company, valued at $3,312,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was 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 disclosure for this sale can be found here. In the last quarter, insiders sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Stock Performance

Shares of LH opened at $226.84 on Tuesday. The company has a 50-day moving average of $219.22 and a two-hundred day moving average of $211.11. The stock has a market cap of $19.05 billion, a P/E ratio of 45.64, a PEG ratio of 1.72 and a beta of 1.06. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $238.46. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39.

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 for the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. Laboratory Co. of America’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.42 EPS. As a group, research analysts predict that Laboratory Co. of America Holdings will post 14.67 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s dividend 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).