15,706 Shares in Laboratory Co. of America Holdings (NYSE:LH) Purchased by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Laboratory Co. of America Holdings (NYSE:LH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,706 shares of the medical research company’s stock, valued at approximately $3,431,000.

Several other hedge funds have also recently added to or reduced their stakes in LH. O Shaughnessy Asset Management LLC raised its position in Laboratory Co. of America by 5.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 3,473 shares of the medical research company’s stock worth $698,000 after purchasing an additional 166 shares in the last quarter. Synovus Financial Corp increased its holdings in shares of Laboratory Co. of America by 5.1% during the third quarter. Synovus Financial Corp now owns 2,013 shares of the medical research company’s stock worth $405,000 after buying an additional 98 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Laboratory Co. of America by 0.5% during the third quarter. Truist Financial Corp now owns 126,859 shares of the medical research company’s stock worth $25,505,000 after buying an additional 650 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Laboratory Co. of America by 536.0% during the third quarter. Ameriprise Financial Inc. now owns 540,429 shares of the medical research company’s stock worth $108,653,000 after buying an additional 455,462 shares in the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. increased its holdings in shares of Laboratory Co. of America by 10.0% during the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 66,389 shares of the medical research company’s stock worth $13,348,000 after buying an additional 6,025 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the sale, the executive vice president now directly owns 5,637 shares in the company, valued at approximately $1,188,448.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $204.33, for a total transaction of $498,360.87. Following the completion of the transaction, the chief accounting officer now directly owns 2,087 shares of the company’s stock, valued at approximately $426,436.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,939 shares of company stock worth $1,021,078. Insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of several recent analyst reports. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, June 4th. Robert W. Baird dropped their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their price target on shares of 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. Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research note on Monday, March 25th. Finally, Truist Financial decreased their price target on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.86.

Laboratory Co. of America Trading Down 0.2 %

Shares of NYSE:LH opened at $202.73 on Wednesday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $234.09. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The company’s fifty day simple moving average is $202.25 and its 200 day simple moving average is $212.73. The firm has a market cap of $17.09 billion, a price-to-earnings ratio of 40.79, a PEG ratio of 1.53 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.48 by $0.20. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the business posted $3.82 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.88 annualized dividend and a yield of 1.42%. Laboratory Co. of America’s payout ratio is currently 57.95%.

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).