Laboratory Co. of America Holdings (NYSE:LH) Stake Boosted by Jag Capital Management LLC

Jag Capital Management LLC raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.1% in the 3rd quarter, Holdings Channel reports. The firm owned 13,794 shares of the medical research company’s stock after purchasing an additional 288 shares during the quarter. Jag Capital Management LLC’s holdings in Laboratory Co. of America were worth $3,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of LH. Empowered Funds LLC lifted its holdings in Laboratory Co. of America by 185.4% in the first quarter. Empowered Funds LLC now owns 4,453 shares of the medical research company’s stock worth $973,000 after acquiring an additional 2,893 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Laboratory Co. of America by 283.1% in the 1st quarter. SG Americas Securities LLC now owns 23,217 shares of the medical research company’s stock worth $5,072,000 after purchasing an additional 17,156 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Laboratory Co. of America by 2.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 2,771 shares of the medical research company’s stock valued at $605,000 after purchasing an additional 59 shares during the period. Forsta AP Fonden grew its stake in Laboratory Co. of America by 9.5% during the 1st quarter. Forsta AP Fonden now owns 18,400 shares of the medical research company’s stock worth $4,020,000 after buying an additional 1,600 shares during the last quarter. Finally, Sei Investments Co. increased its position in Laboratory Co. of America by 9.5% in the first quarter. Sei Investments Co. now owns 131,756 shares of the medical research company’s stock worth $28,784,000 after buying an additional 11,441 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company’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 transaction of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,000 shares of company stock worth $4,043,950. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Trading Up 1.4 %

Shares of Laboratory Co. of America stock opened at $242.39 on Monday. The business has a fifty day simple moving average of $223.02 and a 200-day simple moving average of $214.39. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $243.78. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 46.88, a price-to-earnings-growth ratio of 1.99 and a beta of 1.05. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. Laboratory Co. of America’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.38 earnings per share. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

Analysts Set New Price Targets

LH has been the subject of several analyst reports. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Barclays raised their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Piper Sandler boosted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Finally, Evercore ISI lowered their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $255.92.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.