Lathrop Investment Management Corp Has $15.07 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Lathrop Investment Management Corp lifted its stake in Laboratory Co. of America Holdings (NYSE:LH) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,292 shares of the medical research company’s stock after acquiring an additional 1,907 shares during the quarter. Laboratory Co. of America makes up 3.1% of Lathrop Investment Management Corp’s portfolio, making the stock its 12th biggest holding. Lathrop Investment Management Corp owned 0.08% of Laboratory Co. of America worth $15,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Trust Investment Advisors boosted its holdings 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 worth $583,000 after purchasing an additional 46 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in Laboratory Co. of America by 2.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,969 shares of the medical research company’s stock worth $448,000 after buying an additional 53 shares in the last quarter. Caprock Group LLC lifted its stake in Laboratory Co. of America by 1.8% during the fourth quarter. Caprock Group LLC now owns 3,084 shares of the medical research company’s stock worth $701,000 after purchasing an additional 56 shares during the period. UMB Bank n.a. raised its stake in shares of Laboratory Co. of America by 22.1% in the third quarter. UMB Bank n.a. now owns 315 shares of the medical research company’s stock valued at $63,000 after acquiring an additional 57 shares during the last quarter. Finally, Arjuna Capital increased its holdings in shares of Laboratory Co. of America by 3.2% in the third quarter. Arjuna Capital now owns 1,819 shares of the medical research company’s stock valued at $366,000 after purchasing an additional 57 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 34,504 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $215.97, for a total value of $7,451,828.88. Following the completion of the transaction, the chief financial officer now owns 23,595 shares of the company’s stock, valued at approximately $5,095,812.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Jonathan P. Divincenzo sold 500 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $215.49, for a total transaction of $107,745.00. Following the completion of the sale, the executive vice president now directly owns 3,401 shares in the company, valued at $732,881.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Glenn A. Eisenberg sold 34,504 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $215.97, for a total transaction of $7,451,828.88. Following the sale, the chief financial officer now owns 23,595 shares of the company’s stock, valued at $5,095,812.15. The disclosure for this sale can be found here. Insiders sold a total of 54,305 shares of company stock valued at $11,761,059 in the last quarter. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH stock traded up $0.05 on Friday, reaching $198.40. The stock had a trading volume of 931,317 shares, compared to its average volume of 745,511. The company has a quick ratio of 1.02, a current ratio of 0.88 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $211.70 and its two-hundred day moving average is $214.66. The firm has a market capitalization of $16.69 billion, a price-to-earnings ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. Laboratory Co. of America Holdings has a 12 month low of $174.20 and a 12 month high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.22. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business earned $3.82 EPS. Laboratory Co. of America’s quarterly revenue was up 4.6% on a year-over-year basis. On average, research analysts expect that Laboratory Co. of America Holdings will post 14.84 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, May 24th. Laboratory Co. of America’s payout ratio is 57.95%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LH. Truist Financial cut their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday. Robert W. Baird cut their price objective on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Laboratory Co. of America in a research report on Monday, February 26th. SVB Leerink assumed coverage on shares of Laboratory Co. of America in a research report on Monday, February 26th. They issued an “outperform” rating and a $260.00 price objective on the stock. Finally, Argus raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a research report on Monday, March 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $243.14.

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).