Amalgamated Bank Raises Stake in Laboratory Co. of America Holdings (NYSE:LH)

Amalgamated Bank raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,743 shares of the medical research company’s stock after acquiring an additional 612 shares during the period. Amalgamated Bank’s holdings in Laboratory Co. of America were worth $5,397,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Commonwealth Equity Services LLC raised its position in Laboratory Co. of America by 1.4% during the third quarter. Commonwealth Equity Services LLC now owns 20,653 shares of the medical research company’s stock valued at $4,152,000 after acquiring an additional 280 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Laboratory Co. of America by 3.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,267 shares of the medical research company’s stock valued at $1,662,000 after purchasing an additional 303 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Laboratory Co. of America by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,867 shares of the medical research company’s stock valued at $1,984,000 after purchasing an additional 566 shares during the period. Raymond James & Associates boosted its holdings in Laboratory Co. of America by 21.6% during the third quarter. Raymond James & Associates now owns 136,480 shares of the medical research company’s stock worth $27,439,000 after buying an additional 24,239 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Laboratory Co. of America by 5.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock worth $5,097,000 after acquiring an additional 1,237 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 237 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Der Vaart Sandra D. Van sold 237 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the completion of the sale, the executive vice president now directly owns 7,637 shares of the company’s stock, valued at $1,729,398.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Der Vaart Sandra D. Van sold 259 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $222.06, for a total value of $57,513.54. Following the completion of the transaction, the executive vice president now owns 7,637 shares in the company, valued at approximately $1,695,872.22. The disclosure for this sale can be found here. Insiders sold 57,244 shares of company stock worth $12,360,478 over the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

NYSE:LH opened at $201.04 on Tuesday. The firm has a market capitalization of $16.95 billion, a PE ratio of 40.45, a price-to-earnings-growth ratio of 1.51 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The business’s fifty day moving average price is $209.84 and its 200 day moving average price is $214.88. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09.

Laboratory Co. of America (NYSE:LH) last posted its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, topping the consensus estimate of $3.48 by $0.20. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.82 earnings per share. On average, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, May 28th. This represents a $2.88 annualized dividend and a yield of 1.43%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent analyst reports. Truist Financial lowered their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Argus raised 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. SVB Leerink assumed coverage on Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective for the company. TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a report on Thursday, February 15th. Finally, Evercore ISI assumed coverage on shares of Laboratory Co. of America in a research report on Friday, February 9th. They set an “in-line” rating and a $240.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven 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 an average price target of $243.14.

About Laboratory Co. of America

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).