Boston Research & Management Inc. Boosts Position in Laboratory Co. of America Holdings (NYSE:LH)

Boston Research & Management Inc. raised its position in Laboratory Co. of America Holdings (NYSE:LH) by 0.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 24,684 shares of the medical research company’s stock after purchasing an additional 217 shares during the period. Boston Research & Management Inc.’s holdings in Laboratory Co. of America were worth $5,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America in the 1st quarter valued at about $30,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America in the second quarter valued at approximately $27,000. Innealta Capital LLC purchased a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new stake in Laboratory Co. of America in the 2nd quarter valued at approximately $37,000. Finally, McClarren Financial Advisors Inc. increased its position in 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 buying an additional 166 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 14,722 shares in the company, valued at approximately $3,312,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the sale, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock worth $6,716,306 over the last quarter. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Trading Down 1.1 %

Shares of NYSE LH opened at $222.22 on Friday. The stock has a market capitalization of $18.73 billion, a P/E ratio of 44.71, a PEG ratio of 1.68 and a beta of 1.06. The stock’s 50 day moving average price is $222.74 and its two-hundred day moving average price is $211.57. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. 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 announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period last year, the business posted $3.42 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts anticipate that Laboratory Co. of America Holdings will post 14.67 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Analyst Ratings Changes

Several brokerages recently weighed in on LH. JPMorgan Chase & Co. cut their target price on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Barclays raised their target price on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price objective on 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, Robert W. Baird upped their target price on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average target price of $251.27.

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).