Wahed Invest LLC Purchases 54 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wahed Invest LLC boosted its position in Laboratory Co. of America Holdings (NYSE:LH) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,443 shares of the medical research company’s stock after purchasing an additional 54 shares during the quarter. Wahed Invest LLC’s holdings in Laboratory Co. of America were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LH. Provence Wealth Management Group purchased a new stake in shares of Laboratory Co. of America during the third quarter valued at $29,000. Mendota Financial Group LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $29,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $60,000. Disciplined Equity Management Inc. purchased a new stake in shares of Laboratory Co. of America during the fourth quarter valued at $68,000. Finally, Oakworth Capital Inc. boosted its position in shares of Laboratory Co. of America by 48.1% during the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after buying an additional 100 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 3,553 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $216.74, for a total transaction of $770,077.22. Following the completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,655,243.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 3,553 shares of Laboratory Co. of America stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $216.74, for a total transaction of $770,077.22. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The disclosure for this sale can be found here. Insiders sold a total of 18,469 shares of company stock worth $3,959,058 in the last quarter. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LH. Truist Financial dropped their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. decreased their price objective on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. SVB Leerink assumed coverage on Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.86.

Laboratory Co. of America Price Performance

Shares of Laboratory Co. of America stock opened at $201.51 on Tuesday. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 40.55, a price-to-earnings-growth ratio of 1.50 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. The stock has a 50 day moving average price of $201.91 and a 200-day moving average price of $213.66. Laboratory Co. of America Holdings has a one year low of $189.68 and a one year high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 EPS. Equities analysts expect that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date was Friday, May 24th. Laboratory Co. of America’s payout ratio is currently 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).