Boyar Asset Management Inc. Has $817,000 Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Boyar Asset Management Inc. lifted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,014 shares of the medical research company’s stock after purchasing an additional 200 shares during the period. Boyar Asset Management Inc.’s holdings in Laboratory Co. of America were worth $817,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LH. Industrial Alliance Investment Management Inc. bought a new position in shares of Laboratory Co. of America during the second quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America during the first quarter worth about $30,000. Innealta Capital LLC bought a new stake in shares of Laboratory Co. of America in the second quarter worth about $32,000. Family Firm Inc. acquired a new stake in shares of Laboratory Co. of America during the second quarter worth about $37,000. Finally, McClarren Financial Advisors Inc. raised its position in shares of 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. 95.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on LH. Evercore ISI increased their target price on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 9th. Truist Financial upped their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, UBS Group increased their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.82.

Insider Activity

In related news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 directly owns 15,921 shares in the company, valued at approximately $3,647,501.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the 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 owns 14,722 shares in the company, valued at approximately $3,312,450. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,679 shares of company stock valued at $6,716,306. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $223.91 on Friday. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46. The business’s 50 day moving average price is $218.74 and its two-hundred day moving average price is $211.13. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company has a market cap 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.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data 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. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.19 billion. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.42 earnings per share. On average, analysts predict that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s dividend 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).