Dorsey & Whitney Trust CO LLC Acquires 119 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Dorsey & Whitney Trust CO LLC increased its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,336 shares of the medical research company’s stock after buying an additional 119 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Laboratory Co. of America were worth $882,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America during the second quarter worth $27,000. Pathway Financial Advisers LLC acquired a new position in Laboratory Co. of America in the 1st quarter worth about $30,000. Innealta Capital LLC acquired a new position in Laboratory Co. of America in the 2nd quarter worth about $32,000. Family Firm Inc. bought a new position in Laboratory Co. of America in the second quarter valued at about $37,000. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of Laboratory Co. of America by 313.2% during the first 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 in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LH. Truist Financial upped their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Robert W. Baird raised their price target on shares of Laboratory Co. of America from $261.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Bank of America raised their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, StockNews.com upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $250.82.

Insider Transactions at Laboratory Co. of America

In related news, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now owns 15,921 shares in the company, valued at approximately $3,647,501.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction on 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 directly owns 14,722 shares in the company, valued at $3,312,450. The disclosure for this sale can be found here. Insiders have sold 29,679 shares of company stock valued at $6,716,306 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Down 2.9 %

NYSE LH opened at $220.33 on Wednesday. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year 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 50 day simple moving average of $219.57 and a 200 day simple moving average of $211.12. The stock has a market capitalization of $18.50 billion, a P/E ratio of 44.33, a P/E/G ratio of 1.72 and a beta of 1.06.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings data 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. Laboratory Co. of America had a net margin of 3.60% and a return on equity of 15.39%. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the firm posted $3.42 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. 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 issued a dividend of $0.72 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.31%. 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).