MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $937,000 Holdings in Laboratory Co. of America Holdings (NYSE:LH)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in Laboratory Co. of America Holdings (NYSE:LH) by 70.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,603 shares of the medical research company’s stock after selling 11,103 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Laboratory Co. of America were worth $937,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Laboratory Co. of America by 58.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,613,854 shares of the medical research company’s stock valued at $352,563,000 after buying an additional 597,571 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Laboratory Co. of America by 135.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after purchasing an additional 924,881 shares during the period. Norges Bank bought a new stake in shares of Laboratory Co. of America during the 4th quarter valued at about $291,045,000. Northern Trust Corp grew its position in shares of Laboratory Co. of America by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,163,252 shares of the medical research company’s stock worth $264,396,000 after buying an additional 33,493 shares during the period. Finally, Veritas Investment Partners UK Ltd. increased its stake in shares of Laboratory Co. of America by 32.5% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,140,300 shares of the medical research company’s stock valued at $259,133,000 after acquiring an additional 279,628 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Stock Up 0.1 %

LH opened at $229.89 on Monday. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $238.46. The firm has a market capitalization of $19.30 billion, a P/E ratio of 46.26, a PEG ratio of 1.77 and a beta of 1.05. The company’s 50-day moving average is $216.51 and its 200 day moving average is $210.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.77.

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

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 29th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio (DPR) is currently 57.95%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. UBS Group increased 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. Evercore ISI upped their target price on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Truist Financial upped their price objective on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Laboratory Co. of America has a consensus rating of “Moderate Buy” and an average target price of $247.42.

Insider Activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the 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 of the company’s stock, valued at approximately $833,273.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’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 of the company’s stock, valued at approximately $833,273.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction 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 in the company, valued at $7,008,423.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,679 shares of company stock worth $6,716,306. 0.85% of the stock is owned by company insiders.

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).