GPS Wealth Strategies Group LLC Boosts Holdings in Laboratory Co. of America Holdings (NYSE:LH)

GPS Wealth Strategies Group LLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,063 shares of the medical research company’s stock after acquiring an additional 87 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Laboratory Co. of America were worth $216,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LH. Pathway Financial Advisers LLC purchased a new position in Laboratory Co. of America in the 1st quarter valued at about $30,000. McClarren Financial Advisors Inc. grew its stake in 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 valued at $48,000 after purchasing an additional 166 shares in the last quarter. Quent Capital LLC increased its holdings in 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 purchasing an additional 122 shares during the last quarter. Concord Wealth Partners raised its position in shares of Laboratory Co. of America by 50.3% in the 1st quarter. Concord Wealth Partners now owns 275 shares of the medical research company’s stock valued at $60,000 after purchasing an additional 92 shares in the last quarter. Finally, Disciplined Equity Management Inc. purchased a new position in shares of Laboratory Co. of America during the 4th quarter valued at approximately $68,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

Shares of NYSE:LH traded up $1.67 during trading hours on Thursday, hitting $223.00. 163,968 shares of the company’s stock traded hands, compared to its average volume of 715,988. The company’s fifty day simple moving average is $209.78 and its two-hundred day simple moving average is $210.39. The company has a market cap of $18.80 billion, a price-to-earnings ratio of 44.55, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. 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 issued its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the firm posted $3.42 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.29%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LH shares. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Robert W. Baird raised their price objective on 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. Truist Financial boosted 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Bank of America lifted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $247.42.

Laboratory Co. of America 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).