Toroso Investments LLC Acquires Shares of 5,863 Laboratory Co. of America Holdings (NYSE:LH)

Toroso Investments LLC acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,863 shares of the medical research company’s stock, valued at approximately $1,617,000.

A number of other institutional investors have also recently bought and sold shares of LH. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Laboratory Co. of America by 1,250.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the medical research company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Liberty Wealth Management LLC lifted its holdings in shares of Laboratory Co. of America by 27,486.7% during the second quarter. Liberty Wealth Management LLC now owns 8,276 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 8,246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Laboratory Co. of America in the 2nd quarter worth approximately $31,000. Lee Financial Co purchased a new position in Laboratory Co. of America in the 2nd quarter worth approximately $57,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Laboratory Co. of America in the 2nd quarter valued at approximately $80,000. 88.29% of the stock is currently owned by institutional investors and hedge funds.

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 4,500 shares of the company’s stock in a transaction dated Wednesday, September 15th. The stock was 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 at this hyperlink. Corporate insiders own 0.31% of the company’s stock.

LH has been the subject of several recent analyst reports. Truist Securities boosted their price target on Laboratory Co. of America from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Morgan Stanley boosted their price target on Laboratory Co. of America from $273.00 to $368.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 31st. Zacks Investment Research upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research note on Wednesday, June 30th. Mizuho boosted their price target on Laboratory Co. of America from $318.00 to $332.00 and gave the stock a “buy” rating in a research note on Thursday, August 19th. Finally, Robert W. Baird set a $276.78 price target on Laboratory Co. of America and gave the stock a “buy” rating in a research note on Wednesday, July 21st. Fourteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Buy” and a consensus target price of $314.52.

Shares of LH opened at $273.47 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The business has a 50-day simple moving average of $295.41 and a two-hundred day simple moving average of $278.68. The stock has a market cap of $26.36 billion, a price-to-earnings ratio of 9.34, a PEG 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.

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

Laboratory Co. of America Company 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.

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

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