Summit Trail Advisors LLC Grows Stake in Laboratory Co. of America Holdings (NYSE:LH)

Summit Trail Advisors LLC increased its stake in Laboratory Co. of America Holdings (NYSE:LH) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,081 shares of the medical research company’s stock after acquiring an additional 74 shares during the period. Summit Trail Advisors LLC’s holdings in Laboratory Co. of America were worth $246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Laboratory Co. of America by 20.6% in the third quarter. Wellington Management Group LLP now owns 2,487,106 shares of the medical research company’s stock worth $500,033,000 after purchasing an additional 424,684 shares during the period. Morgan Stanley grew its stake in Laboratory Co. of America by 102.6% in the 3rd quarter. Morgan Stanley now owns 2,219,291 shares of the medical research company’s stock worth $446,189,000 after acquiring an additional 1,123,755 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Laboratory Co. of America by 28.0% during the third quarter. Lazard Asset Management LLC now owns 2,212,497 shares of the medical research company’s stock worth $444,821,000 after acquiring an additional 483,878 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Laboratory Co. of America by 644.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,280,884 shares of the medical research company’s stock worth $257,522,000 after purchasing an additional 1,108,776 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Laboratory Co. of America by 12.6% during the 3rd quarter. Northern Trust Corp now owns 1,129,759 shares of the medical research company’s stock worth $227,138,000 after buying an additional 126,602 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 0.1 %

Shares of NYSE:LH opened at $201.61 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Laboratory Co. of America Holdings has a 12-month low of $174.20 and a 12-month high of $234.09. The business has a 50 day moving average of $209.55 and a two-hundred day moving average of $214.89. The company has a market capitalization of $17.00 billion, a PE ratio of 40.57, a PEG ratio of 1.51 and a beta of 1.02.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share 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 during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm posted $3.82 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current year.

Laboratory Co. of America Dividend Announcement

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

Insider Buying and Selling at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $226.45, for a total transaction of $53,668.65. Following the completion of the sale, the executive vice president now directly owns 7,637 shares in the company, valued at $1,729,398.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jonathan P. Divincenzo sold 500 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total transaction of $107,745.00. Following the transaction, the executive vice president now directly owns 3,401 shares in the company, valued at $732,881.49. 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 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 transaction of $53,668.65. Following the transaction, the executive vice president now owns 7,637 shares in the company, valued at $1,729,398.65. The disclosure for this sale can be found here. Insiders have sold a total of 56,985 shares of company stock valued at $12,302,964 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

LH has been the subject of a number of analyst reports. Truist Financial lowered their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a report on Friday, April 26th. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a report on Monday, March 25th. Barclays reduced their target price on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. SVB Leerink started coverage on shares of Laboratory Co. of America in a report on Monday, February 26th. They issued an “outperform” rating and a $260.00 target price for the company. Finally, Robert W. Baird reduced their target price 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

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).