Wahed Invest LLC Has $360,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

Wahed Invest LLC grew its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 14.1% during the 1st quarter, HoldingsChannel reports. The firm owned 1,646 shares of the medical research company’s stock after acquiring an additional 203 shares during the quarter. Wahed Invest LLC’s holdings in Laboratory Co. of America were worth $360,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LH. McClarren Financial Advisors Inc. lifted its stake 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 purchasing an additional 166 shares during the period. Concord Wealth Partners raised its stake in shares of Laboratory Co. of America by 50.3% in the first quarter. Concord Wealth Partners now owns 275 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 92 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $68,000. Oakworth Capital Inc. raised its stake in shares of Laboratory Co. of America by 48.1% in the fourth quarter. Oakworth Capital Inc. now owns 308 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 100 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Laboratory Co. of America in the fourth quarter valued at approximately $80,000. Institutional investors own 95.94% of the company’s stock.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total transaction of $421,660.00. Following the completion of the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Price Performance

LH stock traded up $2.61 during midday trading on Friday, reaching $236.00. The company had a trading volume of 1,192,573 shares, compared to its average volume of 723,302. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46. The company has a market capitalization of $19.89 billion, a P/E ratio of 47.39, a P/E/G ratio of 1.62 and a beta of 1.05. The firm has a 50-day moving average price of $204.51 and a 200-day moving average price of $210.45.

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 for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.42 EPS. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be issued a $0.72 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.22%. Laboratory Co. of America’s payout ratio is 57.95%.

Analysts Set New Price Targets

LH has been the subject of a number of research analyst reports. Truist Financial lifted their target price 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. Evercore ISI lifted their target price on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Barclays raised their price target on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a report on Friday. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Finally, UBS Group raised 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. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.67.

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).