Comerica Bank Purchases 1,289 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Comerica Bank lifted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,384 shares of the medical research company’s stock after purchasing an additional 1,289 shares during the period. Comerica Bank owned about 0.06% of Laboratory Co. of America worth $10,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LH. Manchester Capital Management LLC lifted its stake in Laboratory Co. of America by 1.1% in the fourth quarter. Manchester Capital Management LLC now owns 4,159 shares of the medical research company’s stock valued at $945,000 after buying an additional 45 shares during the period. Trust Investment Advisors lifted its stake in Laboratory Co. of America by 1.8% in the fourth quarter. Trust Investment Advisors now owns 2,567 shares of the medical research company’s stock valued at $583,000 after buying an additional 46 shares during the period. SP Asset Management LLC lifted its stake in Laboratory Co. of America by 0.3% in the fourth quarter. SP Asset Management LLC now owns 14,992 shares of the medical research company’s stock valued at $3,407,000 after buying an additional 46 shares during the period. Unison Advisors LLC lifted its stake in Laboratory Co. of America by 0.5% in the first quarter. Unison Advisors LLC now owns 11,053 shares of the medical research company’s stock valued at $2,415,000 after buying an additional 51 shares during the period. Finally, Connecticut Wealth Management LLC raised its position in shares of Laboratory Co. of America by 1.8% during the first quarter. Connecticut Wealth Management LLC now owns 2,973 shares of the medical research company’s stock worth $649,000 after purchasing an additional 52 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the completion of the transaction, the executive vice president now directly owns 5,637 shares of the company’s stock, valued at approximately $1,188,448.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Price Performance

Shares of NYSE LH traded up $17.13 during midday trading on Thursday, reaching $232.57. The stock had a trading volume of 1,122,720 shares, compared to its average volume of 715,478. The stock has a 50-day moving average of $203.78 and a 200-day moving average of $210.29. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88. The company has a market capitalization of $19.61 billion, a price-to-earnings ratio of 45.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.05. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $234.09.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 29th will be issued a $0.72 dividend. The ex-dividend date is Thursday, August 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.24%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Analysts Set New Price Targets

Several brokerages have weighed in on LH. Truist Financial dropped their price objective on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Barclays cut their price objective on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Evercore ISI increased their price objective on shares of Laboratory Co. of America from $210.00 to $215.00 and gave the company an “in-line” rating in a research note on Tuesday, July 9th. Robert W. Baird increased their price objective on shares of Laboratory Co. of America from $258.00 to $261.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Finally, StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $241.29.

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).