Bridges Investment Management Inc. Invests $1.23 Million in Laboratory Co. of America Holdings (NYSE:LH)

Bridges Investment Management Inc. bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,032 shares of the medical research company’s stock, valued at approximately $1,228,000.

A number of other hedge funds have also added to or reduced their stakes in LH. Industrial Alliance Investment Management Inc. bought a new position in shares of Laboratory Co. of America in the 2nd quarter valued at about $27,000. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America in the first quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new stake in shares of Laboratory Co. of America during the 2nd quarter worth approximately $37,000. Finally, McClarren Financial Advisors Inc. raised its stake in shares of Laboratory Co. of America by 313.2% during the 1st 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 in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the 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 sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $227.05, for a total transaction of $454,100.00. Following the completion of the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,679 shares of company stock worth $6,716,306. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

LH opened at $222.22 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77. The business has a fifty day simple moving average of $222.74 and a 200 day simple moving average of $211.57. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $238.46. The company has a market capitalization of $18.73 billion, a PE ratio of 44.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, August 1st. The medical research company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the business posted $3.42 earnings per share. Laboratory Co. of America’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts expect that Laboratory Co. of America Holdings will post 14.67 EPS for the current year.

Laboratory Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.72 dividend. The ex-dividend date was Thursday, August 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.30%. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. StockNews.com upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. UBS Group raised their target price on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays lifted their price target on Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on Laboratory Co. of America from $278.00 to $282.00 and gave the company an “outperform” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average price target of $251.27.

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).