Laboratory Co. of America Holdings (NYSE:LH) Shares Purchased by Paralel Advisors LLC

Paralel Advisors LLC grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 25.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,449 shares of the medical research company’s stock after acquiring an additional 2,104 shares during the period. Paralel Advisors LLC’s holdings in Laboratory Co. of America were worth $2,126,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America during the 1st quarter valued at $30,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America during the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter valued at $37,000. Finally, McClarren Financial Advisors Inc. boosted its position in shares of Laboratory Co. of America by 313.2% in the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company’s stock worth $48,000 after buying an additional 166 shares during the period. 95.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LH. Robert W. Baird upped their price target on Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. UBS Group upped their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays increased their target price on shares of Laboratory Co. of America from $213.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Bank of America boosted their price target on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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 issued a buy rating to the company. According to MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $250.82.

Insider Activity at Laboratory Co. of America

In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $225.00, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 14,722 shares in the company, valued at $3,312,450. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the sale, the executive vice president now owns 3,670 shares in the company, valued at $833,273.50. 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. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

LH traded down $3.43 during midday trading on Friday, reaching $223.91. The company’s stock had a trading volume of 488,233 shares, compared to its average volume of 688,116. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $218.74 and a 200 day simple moving average of $211.10. The stock has a market cap of $18.88 billion, a P/E ratio of 45.05, a PEG ratio of 1.77 and a beta of 1.06. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $238.46.

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

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Thursday, August 29th. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

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).