Wealth Advisors of Tampa Bay LLC Acquires 135 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Wealth Advisors of Tampa Bay LLC lifted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 1.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,256 shares of the medical research company’s stock after acquiring an additional 135 shares during the period. Wealth Advisors of Tampa Bay LLC’s holdings in Laboratory Co. of America were worth $1,680,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of LH. Insight Inv LLC lifted its holdings in shares of Laboratory Co. of America by 1.3% in the 2nd quarter. Insight Inv LLC now owns 3,530 shares of the medical research company’s stock worth $718,000 after purchasing an additional 45 shares in the last quarter. Athena Investment Management grew its holdings in shares of Laboratory Co. of America by 4.8% during the second quarter. Athena Investment Management now owns 1,040 shares of the medical research company’s stock valued at $212,000 after buying an additional 48 shares during the last quarter. Unison Advisors LLC increased its position in shares of Laboratory Co. of America by 0.5% during the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock worth $2,415,000 after acquiring an additional 51 shares in the last quarter. Connecticut Wealth Management LLC lifted its position in Laboratory Co. of America by 1.8% in the 1st quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock valued at $649,000 after acquiring an additional 52 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its stake in Laboratory Co. of America by 5.1% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,089 shares of the medical research company’s stock valued at $222,000 after purchasing an additional 53 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on LH. Barclays increased their price objective on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. UBS Group upped their price target 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. Truist Financial raised their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird upped their target price on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $250.82.

Insider Buying and Selling at Laboratory Co. of America

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 sale, the chief financial officer now owns 31,289 shares of the company’s stock, valued at $7,008,423.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction on Thursday, August 15th. The stock was 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 $7,008,423.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the sale, the director now owns 14,722 shares in the company, valued at $3,312,450. The disclosure for this sale can be found here. Insiders have sold a total of 29,679 shares of company stock valued at $6,716,306 over the last three months. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Down 1.2 %

Laboratory Co. of America stock opened at $224.59 on Friday. The firm has a 50 day moving average price of $222.42 and a 200-day moving average price of $211.55. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46. The company has a market capitalization of $18.93 billion, a P/E ratio of 45.19, a P/E/G ratio of 1.68 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data on Thursday, August 1st. The medical research company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.16. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.19 billion. Laboratory Co. of America had a return on equity of 15.39% and a net margin of 3.60%. Laboratory Co. of America’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.42 earnings per share. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is currently 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).