Toronto Dominion Bank Raises Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Toronto Dominion Bank lifted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 78.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,615 shares of the medical research company’s stock after buying an additional 21,339 shares during the period. Toronto Dominion Bank owned about 0.06% of Laboratory Co. of America worth $10,620,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of Laboratory Co. of America by 347.3% in the 4th quarter. SG Americas Securities LLC now owns 6,061 shares of the medical research company’s stock worth $1,378,000 after acquiring an additional 4,706 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Laboratory Co. of America by 6.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 27,045 shares of the medical research company’s stock worth $6,147,000 after acquiring an additional 1,691 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Laboratory Co. of America by 155.6% in the 4th quarter. Pacer Advisors Inc. now owns 19,869 shares of the medical research company’s stock worth $4,516,000 after acquiring an additional 12,095 shares during the period. Planned Solutions Inc. acquired a new stake in shares of Laboratory Co. of America in the 4th quarter worth approximately $76,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Laboratory Co. of America in the 4th quarter worth approximately $135,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on Laboratory Co. of America from $258.00 to $261.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Evercore ISI upped their price target on Laboratory Co. of America from $210.00 to $215.00 and gave the stock an “in-line” rating in a report on Tuesday, July 9th. Truist Financial lowered their target price on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Barclays lowered their target price on 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. Finally, JPMorgan Chase & Co. lowered their target price on Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $241.29.

Laboratory Co. of America Stock Up 0.6 %

NYSE:LH traded up $1.18 during mid-day trading on Friday, hitting $210.90. The company had a trading volume of 393,546 shares, compared to its average volume of 713,789. The business has a fifty day simple moving average of $203.26 and a 200-day simple moving average of $210.64. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.58 and a beta of 1.05. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $234.09.

Laboratory Co. of America (NYSE:LH) last announced its earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $3.82 earnings per share. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.84 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be paid 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 1.37%. Laboratory Co. of America’s dividend payout ratio is presently 57.95%.

Insider Activity

In related news, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at $426,436.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, CAO Peter J. Wilkinson sold 2,439 shares of Laboratory Co. of America stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $204.33, for a total value of $498,360.87. Following the completion of the transaction, the chief accounting officer now directly owns 2,087 shares in the company, valued at $426,436.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The disclosure for this sale can be found here. Insiders sold 4,939 shares of company stock worth $1,021,078 over the last ninety days. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Company 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).