MBB Public Markets I LLC Purchases Shares of 5,796 Laboratory Co. of America Holdings (NYSE:LH)

MBB Public Markets I LLC acquired a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the second quarter, HoldingsChannel reports. The firm acquired 5,796 shares of the medical research company’s stock, valued at approximately $1,180,000.

Several other large investors also recently made changes to their positions in LH. TD Asset Management Inc grew its holdings in Laboratory Co. of America by 1.7% during the fourth quarter. TD Asset Management Inc now owns 30,441 shares of the medical research company’s stock worth $6,919,000 after purchasing an additional 520 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of Laboratory Co. of America by 6.9% during the 4th quarter. Allianz Asset Management GmbH now owns 63,639 shares of the medical research company’s stock worth $14,465,000 after acquiring an additional 4,103 shares during the period. NEOS Investment Management LLC acquired a new position in shares of Laboratory Co. of America during the 4th quarter worth approximately $226,000. Peapack Gladstone Financial Corp raised its stake in Laboratory Co. of America by 0.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 92,871 shares of the medical research company’s stock valued at $21,110,000 after acquiring an additional 445 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in Laboratory Co. of America during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group raised their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Truist Financial upped 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. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Barclays increased their price objective on 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. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.50.

Insider Buying and Selling at Laboratory Co. of America

In related 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 transaction 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 filing with the SEC, which is available through this link. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction that occurred 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 owns 31,289 shares in the company, valued at $7,008,423.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Up 0.6 %

Shares of NYSE LH opened at $223.48 on Tuesday. The stock has a market capitalization of $18.84 billion, a P/E ratio of 44.97, a PEG ratio of 1.74 and a beta of 1.06. The stock’s fifty day moving average is $223.73 and its 200 day moving average is $211.73. Laboratory Co. of America Holdings has a 52 week low of $191.97 and a 52 week 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.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating 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 analyst estimates of $3.19 billion. During the same period last year, the firm earned $3.42 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.61 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 29th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.29%. 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 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).