Sei Investments Co. Boosts Position in Laboratory Co. of America Holdings (NYSE:LH)

Sei Investments Co. grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 27.9% during the 2nd quarter, Holdings Channel reports. The fund owned 168,476 shares of the medical research company’s stock after purchasing an additional 36,720 shares during the period. Sei Investments Co.’s holdings in Laboratory Co. of America were worth $34,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Laboratory Co. of America by 2.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the period. Northern Trust Corp grew its holdings in Laboratory Co. of America by 3.0% during the fourth quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after acquiring an additional 33,493 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Laboratory Co. of America by 17.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 101,019 shares of the medical research company’s stock valued at $22,069,000 after acquiring an additional 14,708 shares during the period. SG Americas Securities LLC boosted its position in Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after purchasing an additional 17,156 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in shares of Laboratory Co. of America by 1,715.7% during the 4th quarter. Bank of Nova Scotia now owns 175,176 shares of the medical research company’s stock worth $39,814,000 after purchasing an additional 165,528 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, 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 value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction that occurred 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 directly owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Truist Financial raised their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Evercore ISI upped their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. Barclays raised their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Bank of America upped their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $252.42.

Laboratory Co. of America Stock Up 1.1 %

NYSE LH opened at $224.75 on Tuesday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $238.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.77 and a current ratio of 0.88. The business has a fifty day moving average price of $223.09 and a 200 day moving average price of $211.54. The company has a market cap of $18.95 billion, a P/E ratio of 45.22, a P/E/G ratio of 1.68 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same period last year, the firm posted $3.42 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.72 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.28%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

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).