Argyle Capital Management Inc. Invests $201,000 in Laboratory Co. of America Holdings (NYSE:LH)

Argyle Capital Management Inc. bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 883 shares of the medical research company’s stock, valued at approximately $201,000.

A number of other institutional investors also recently modified their holdings of LH. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Laboratory Co. of America by 5.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,354 shares of the medical research company’s stock valued at $5,097,000 after purchasing an additional 1,237 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Laboratory Co. of America by 6.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,509 shares of the medical research company’s stock worth $1,711,000 after acquiring an additional 484 shares in the last quarter. Handelsinvest Investeringsforvaltning bought a new position in shares of Laboratory Co. of America in the 4th quarter worth about $1,091,000. Cerity Partners LLC increased its stake in Laboratory Co. of America by 8.6% during the 4th quarter. Cerity Partners LLC now owns 64,435 shares of the medical research company’s stock valued at $14,645,000 after purchasing an additional 5,105 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in Laboratory Co. of America during the 4th quarter valued at about $2,786,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Der Vaart Sandra D. Van sold 237 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $226.45, for a total value of $53,668.65. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,729,398.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy B. Summy sold 227 shares of Laboratory Co. of America stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $218.45, for a total transaction of $49,588.15. Following the completion of the sale, the chief marketing officer now directly owns 3,859 shares in the company, valued at approximately $842,998.55. 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 three months. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Stock Performance

LH opened at $198.40 on Monday. 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 $16.69 billion, a PE ratio of 39.92, a P/E/G ratio of 1.49 and a beta of 1.01. The firm has a 50 day moving average of $211.70 and a two-hundred day moving average of $214.85. 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 posted 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 $3.46 by $0.22. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. Laboratory Co. of America had a net margin of 3.52% and a return on equity of 14.68%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.82 EPS. On average, analysts anticipate that Laboratory Co. of America Holdings will post 14.85 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, May 24th. Laboratory Co. of America’s dividend payout ratio (DPR) is 57.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LH shares. SVB Leerink began coverage on shares of Laboratory Co. of America in a research note on Monday, February 26th. They issued an “outperform” rating and a $260.00 price target for the company. Robert W. Baird lowered their target price on shares of Laboratory Co. of America from $255.00 to $244.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial reduced their price target 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. Argus upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating and set a $250.00 price objective on the stock in a research report on Monday, March 25th. Finally, TheStreet lowered shares of Laboratory Co. of America from a “b-” rating to a “c+” rating in a research note on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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).