SFE Investment Counsel Purchases 15,231 Shares of Laboratory Co. of America Holdings (NYSE:LH)

SFE Investment Counsel increased its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 180.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,678 shares of the medical research company’s stock after acquiring an additional 15,231 shares during the period. SFE Investment Counsel’s holdings in Laboratory Co. of America were worth $4,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America during the second quarter worth about $27,000. Pathway Financial Advisers LLC bought a new position in shares of Laboratory Co. of America during the 1st quarter valued at approximately $30,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $37,000. Finally, McClarren Financial Advisors Inc. lifted its stake in Laboratory Co. of America by 313.2% in the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock valued at $48,000 after purchasing an additional 166 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock opened at $223.91 on Friday. 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 current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $18.88 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05. The firm’s 50 day simple moving average is $218.74 and its 200 day simple moving average is $211.13.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.78 by $0.16. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.42 earnings per share. As a group, analysts expect that Laboratory Co. of America Holdings will post 14.67 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s payout ratio is 57.95%.

Insider Buying and Selling

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 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 owns 15,921 shares of the company’s stock, valued at $3,647,501.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the director now directly owns 14,722 shares in the company, valued at $3,312,450. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,679 shares of company stock worth $6,716,306. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of recent research reports. Robert W. Baird raised their target price on Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com raised Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Truist Financial boosted their price objective on 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. 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 report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $250.82.

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).