B. Riley Wealth Advisors Inc. Acquires 83 Shares of Laboratory Co. of America Holdings (NYSE:LH)

B. Riley Wealth Advisors Inc. raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,516 shares of the medical research company’s stock after buying an additional 83 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Laboratory Co. of America were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LH. Northwestern Mutual Wealth Management Co. raised its stake in shares of Laboratory Co. of America by 19.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the medical research company’s stock valued at $1,152,000 after acquiring an additional 913 shares in the last quarter. Coastal Bridge Advisors LLC bought a new position in shares of Laboratory Co. of America in the second quarter valued at approximately $299,000. Creative Planning lifted its stake in shares of Laboratory Co. of America by 14.7% in the second quarter. Creative Planning now owns 12,854 shares of the medical research company’s stock worth $2,616,000 after buying an additional 1,646 shares during the last quarter. Select Equity Group L.P. acquired a new position in Laboratory Co. of America in the 2nd quarter valued at $73,928,000. Finally, Mackenzie Financial Corp raised its holdings in Laboratory Co. of America by 65.1% in the 2nd quarter. Mackenzie Financial Corp now owns 13,384 shares of the medical research company’s stock worth $2,724,000 after acquiring an additional 5,275 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 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 $3,312,450. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock worth $6,716,306 in the last quarter. 0.85% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group upped their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Jefferies Financial Group upped their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Piper Sandler initiated coverage on shares of Laboratory Co. of America in a research note on Tuesday. They issued a “neutral” rating and a $235.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted 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 research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

Laboratory Co. of America Stock Performance

NYSE LH opened at $216.00 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The stock has a market cap of $18.21 billion, a P/E ratio of 43.46, a PEG ratio of 1.74 and a beta of 1.05. The company’s 50-day simple moving average is $224.38 and its 200 day simple moving average is $211.92.

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 during the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm posted $3.42 EPS. Laboratory Co. of America’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.33%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s payout ratio is 57.95%.

About Laboratory Co. of America

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).