Fairscale Capital LLC Purchases New Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Fairscale Capital LLC purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 324 shares of the medical research company’s stock, valued at approximately $70,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in LH. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America during the first quarter worth about $30,000. Industrial Alliance Investment Management Inc. bought a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $27,000. 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 Laboratory Co. of America in the 2nd quarter valued at $37,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in 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 valued at $48,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. UBS Group increased their price target on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $278.00 to $282.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays upped their target price on Laboratory Co. of America from $213.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average price target of $251.27.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the sale, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction dated 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 transaction, the chief financial officer now owns 31,289 shares in the company, valued at $7,008,423.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the transaction, the executive vice president now directly owns 3,670 shares of the company’s stock, valued at approximately $833,273.50. The disclosure for this sale can be found here. Insiders have sold 29,679 shares of company stock valued at $6,716,306 over the last three months. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Price Performance

Shares of NYSE LH opened at $222.22 on Monday. The stock has a market capitalization of $18.73 billion, a PE ratio of 44.71, a P/E/G ratio of 1.68 and a beta of 1.06. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $238.46. 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 moving average price of $222.74 and a two-hundred day moving average price of $211.50.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, August 1st. The medical research company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.16. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.42 earnings per share. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 14.67 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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

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).