Raleigh Capital Management Inc. Grows Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Raleigh Capital Management Inc. grew its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 38.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 215 shares of the medical research company’s stock after buying an additional 60 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Laboratory Co. of America were worth $49,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LH. Zions Bancorporation N.A. raised its holdings in shares of Laboratory Co. of America by 45.6% in the 4th quarter. Zions Bancorporation N.A. now owns 131 shares of the medical research company’s stock worth $31,000 after purchasing an additional 41 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Laboratory Co. of America by 2.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,151 shares of the medical research company’s stock worth $494,000 after purchasing an additional 46 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Laboratory Co. of America by 0.6% in the fourth quarter. Neuberger Berman Group LLC now owns 7,834 shares of the medical research company’s stock worth $1,845,000 after acquiring an additional 48 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Laboratory Co. of America by 0.8% in the fourth quarter. Quantinno Capital Management LP now owns 6,558 shares of the medical research company’s stock worth $1,544,000 after acquiring an additional 49 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Laboratory Co. of America by 0.9% in the first quarter. Van ECK Associates Corp now owns 5,298 shares of the medical research company’s stock worth $1,215,000 after acquiring an additional 49 shares in the last quarter. 89.37% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total value of $1,057,850.00. Following the sale, the director now owns 15,275 shares of the company’s stock, valued at approximately $3,231,731.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $211.57, for a total value of $1,057,850.00. Following the sale, the director now owns 15,275 shares of the company’s stock, valued at approximately $3,231,731.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 212 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $240.00, for a total value of $50,880.00. Following the completion of the sale, the executive vice president now directly owns 7,605 shares in the company, valued at approximately $1,825,200. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on LH shares. Robert W. Baird dropped their target price on shares of Laboratory Co. of America from $255.00 to $251.00 and set an “outperform” rating on the stock in a research report on Monday, July 31st. Truist Financial dropped their target price on shares of Laboratory Co. of America from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Morgan Stanley dropped their target price on shares of Laboratory Co. of America from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, August 3rd. HSBC started coverage on shares of Laboratory Co. of America in a research report on Wednesday, September 6th. They set a “hold” rating and a $210.00 price objective on the stock. Finally, Credit Suisse Group lowered their price objective on shares of Laboratory Co. of America from $247.41 to $231.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $247.11.

Read Our Latest Analysis on Laboratory Co. of America

Laboratory Co. of America Stock Performance

LH stock opened at $203.69 on Friday. The company has a quick ratio of 2.12, a current ratio of 2.35 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $18.05 billion, a price-to-earnings ratio of 21.97 and a beta of 1.08. Laboratory Co. of America Holdings has a 12 month low of $166.93 and a 12 month high of $222.33. The firm has a 50 day moving average of $212.42 and a two-hundred day moving average of $220.70.

Laboratory Co. of America (NYSE:LH – Get Free Report) last posted its earnings results on Thursday, July 27th. The medical research company reported $3.42 EPS for the quarter, missing the consensus estimate of $3.47 by ($0.05). The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.77 billion. Laboratory Co. of America had a return on equity of 14.62% and a net margin of 5.89%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 earnings per share. As a group, equities analysts anticipate that Laboratory Co. of America Holdings will post 13.68 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 8th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Monday, August 7th. Laboratory Co. of America’s dividend payout ratio is 31.07%.

Laboratory Co. of America Company Profile

(Free Report)

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 and Labcorp Drug Development.

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