SP Asset Management LLC Has $3.07 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

SP Asset Management LLC increased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 0.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,096 shares of the medical research company’s stock after acquiring an additional 56 shares during the period. SP Asset Management LLC’s holdings in Laboratory Co. of America were worth $3,072,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC grew its position in shares of Laboratory Co. of America by 10.1% in the 4th quarter. Private Advisor Group LLC now owns 6,782 shares of the medical research company’s stock valued at $1,541,000 after acquiring an additional 624 shares during the period. Lincoln National Corp bought a new position in Laboratory Co. of America during the fourth quarter worth about $302,000. Quotient Wealth Partners LLC acquired a new position in Laboratory Co. of America during the fourth quarter worth approximately $263,000. Westpac Banking Corp raised its stake in Laboratory Co. of America by 10.2% in the fourth quarter. Westpac Banking Corp now owns 5,975 shares of the medical research company’s stock valued at $1,358,000 after buying an additional 555 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Laboratory Co. of America by 4.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 86,311 shares of the medical research company’s stock valued at $19,567,000 after buying an additional 3,756 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the business’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 value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Kerrii B. Anderson sold 586 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 14,722 shares in the company, valued at approximately $3,312,450. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. The disclosure for this sale can be found here. Insiders sold 29,679 shares of company stock valued at $6,716,306 over the last quarter. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Stock Down 2.9 %

Shares of LH opened at $220.33 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $238.46. The firm’s 50 day moving average is $219.57 and its 200-day moving average is $211.12. The stock has a market capitalization of $18.50 billion, a PE ratio of 44.33, a P/E/G ratio of 1.72 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings results 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 business 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 quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.42 earnings per share. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 57.95%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of research analyst reports. 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. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. UBS Group lifted their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Truist Financial increased their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Bank of America boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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).