Toroso Investments LLC Invests $1.62 Million in Laboratory Co. of America Holdings (NYSE:LH)

Toroso Investments LLC bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,863 shares of the medical research company’s stock, valued at approximately $1,617,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Laboratory Co. of America by 2.5% in the second quarter. Vanguard Group Inc. now owns 10,895,962 shares of the medical research company’s stock valued at $3,005,650,000 after acquiring an additional 263,760 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Laboratory Co. of America by 3.9% in the second quarter. Geode Capital Management LLC now owns 1,775,989 shares of the medical research company’s stock valued at $488,586,000 after acquiring an additional 65,973 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Laboratory Co. of America by 11.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,556,140 shares of the medical research company’s stock valued at $429,262,000 after acquiring an additional 155,637 shares during the last quarter. Melvin Capital Management LP lifted its holdings in Laboratory Co. of America by 73.4% in the first quarter. Melvin Capital Management LP now owns 1,500,000 shares of the medical research company’s stock valued at $382,545,000 after acquiring an additional 635,000 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Laboratory Co. of America by 9.4% in the second quarter. Alliancebernstein L.P. now owns 1,393,672 shares of the medical research company’s stock valued at $384,444,000 after acquiring an additional 120,202 shares during the last quarter. Institutional investors and hedge funds own 88.29% of the company’s stock.

NYSE LH opened at $273.47 on Thursday. The stock has a market capitalization of $26.36 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.21 and a beta of 1.04. Laboratory Co. of America Holdings has a 52-week low of $190.00 and a 52-week high of $309.60. The firm has a 50-day moving average price of $295.41 and a 200 day moving average price of $278.68. The company has a quick ratio of 1.98, a current ratio of 2.13 and a debt-to-equity ratio of 0.54.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Wednesday, July 28th. The medical research company reported $6.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.64 by $0.49. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Laboratory Co. of America had a net margin of 17.57% and a return on equity of 35.18%. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 23.55 earnings per share for the current fiscal year.

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 4,500 shares of the stock in a transaction dated Wednesday, September 15th. The shares were sold at an average price of $296.78, for a total value of $1,335,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

A number of analysts have issued reports on the company. Mizuho boosted their target price on Laboratory Co. of America from $318.00 to $332.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. Credit Suisse Group increased their target price on Laboratory Co. of America from $295.00 to $336.00 and gave the company an “outperform” rating in a report on Friday, August 20th. Robert W. Baird set a $276.78 target price on Laboratory Co. of America and gave the company a “buy” rating in a report on Wednesday, July 21st. Morgan Stanley upped their price objective on shares of Laboratory Co. of America from $273.00 to $368.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Finally, Truist Securities upped their price objective on shares of Laboratory Co. of America from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Fourteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $314.52.

Laboratory Co. of America Profile

Laboratory Corp. of America Holdings operates as a life sciences company, which engages in the provision of vital information to help health professionals make clear and confident decisions. It operates through the Drug Development and Diagnostics segments. The Drug Development segment consists of lead optimization, preclinical safety assessment, analytical services, clinical trials, central laboratories, biomarkers, and companion diagnostics, market access, and technology solutions.

Featured Story: What are the reasons investors use put options?

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Laboratory Co. of America Holdings (NYSE:LH).

Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

Receive News & Ratings for Laboratory Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.