Patriot Financial Group Insurance Agency LLC purchased a new position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 931 shares of the medical research company’s stock, valued at approximately $208,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Diamond Hill Capital Management Inc. boosted its position in shares of Laboratory Co. of America by 25.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company’s stock valued at $396,771,000 after acquiring an additional 395,197 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Laboratory Co. of America by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company’s stock valued at $416,893,000 after acquiring an additional 263,105 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Laboratory Co. of America by 135.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company’s stock valued at $327,616,000 after acquiring an additional 924,881 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Laboratory Co. of America by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company’s stock valued at $288,519,000 after buying an additional 33,497 shares during the period. Finally, Cooke & Bieler LP raised its holdings in Laboratory Co. of America by 26.8% during the 2nd quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company’s stock valued at $188,908,000 after buying an additional 196,119 shares during the period. 95.94% of the stock is currently owned by institutional investors.
Laboratory Co. of America Stock Performance
Shares of Laboratory Co. of America stock opened at $230.56 on Thursday. The firm has a market cap of $19.36 billion, a P/E ratio of 44.60, a P/E/G ratio of 1.77 and a beta of 1.05. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $239.50. The stock’s fifty day moving average price is $222.71 and its 200-day moving average price is $212.87.
Laboratory Co. of America Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is currently 55.71%.
Analysts Set New Price Targets
LH has been the topic of several recent research reports. Jefferies Financial Group increased their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a “buy” rating in a report on Monday, September 23rd. UBS Group increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial increased their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America increased their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday. Five equities research 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $253.92.
Check Out Our Latest Stock Report on LH
Insider Activity at Laboratory Co. of America
In related news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total transaction of $131,850.00. Following the sale, the director now owns 14,722 shares of the company’s stock, valued at $3,312,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 586 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the sale, the director now owns 14,722 shares of the company’s stock, valued at approximately $3,312,450. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company’s stock, valued at approximately $3,647,501.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,679 shares of company stock valued at $6,946,306 over the last quarter. 0.85% of the stock is owned by corporate insiders.
Laboratory Co. of America Company Profile
Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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