Caxton Associates LP Has $1.12 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

Caxton Associates LP boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 24.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,501 shares of the medical research company’s stock after buying an additional 1,072 shares during the period. Caxton Associates LP’s holdings in Laboratory Co. of America were worth $1,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LH. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Laboratory Co. of America by 58.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 16,108 shares of the medical research company’s stock worth $3,278,000 after buying an additional 5,971 shares during the last quarter. Bank of Montreal Can raised its position in shares of Laboratory Co. of America by 9.5% in the 2nd quarter. Bank of Montreal Can now owns 144,752 shares of the medical research company’s stock valued at $30,155,000 after acquiring an additional 12,555 shares during the period. Evergreen Capital Management LLC bought a new position in Laboratory Co. of America during the 2nd quarter worth approximately $247,000. Fairscale Capital LLC acquired a new position in Laboratory Co. of America during the second quarter valued at approximately $70,000. Finally, 1832 Asset Management L.P. increased its stake in Laboratory Co. of America by 7.1% in the second quarter. 1832 Asset Management L.P. now owns 10,343 shares of the medical research company’s stock valued at $2,105,000 after purchasing an additional 686 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at $3,647,501.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kerrii B. Anderson sold 586 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 14,722 shares in the company, valued at approximately $3,312,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LH. Evercore ISI decreased their price target on shares of Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target 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. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Jefferies Financial Group increased their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $254.50.

Laboratory Co. of America Stock Up 0.8 %

Shares of LH stock opened at $220.28 on Friday. The firm’s fifty day moving average price is $223.22 and its two-hundred day moving average price is $211.61. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46. The firm has a market capitalization of $18.57 billion, a P/E ratio of 44.32, a PEG ratio of 1.74 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.19 billion. During the same quarter in the previous year, the business earned $3.42 earnings per share. Laboratory Co. of America’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.61 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed 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 1.31%. The ex-dividend date of this dividend was Thursday, August 29th. Laboratory Co. of America’s payout ratio is presently 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).