abrdn plc Has $17.14 Million Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

abrdn plc raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,999 shares of the medical research company’s stock after acquiring an additional 9,328 shares during the quarter. abrdn plc’s holdings in Laboratory Co. of America were worth $17,142,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in LH. Horizon Bancorp Inc. IN bought a new position in shares of Laboratory Co. of America during the 3rd quarter valued at $29,000. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America in the 1st quarter worth approximately $30,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America during the 2nd quarter worth $27,000. Innealta Capital LLC bought a new position in Laboratory Co. of America in the 2nd quarter worth $32,000. Finally, Riverview Trust Co lifted its position in Laboratory Co. of America by 172.6% during the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company’s stock worth $38,000 after acquiring an additional 107 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at $7,008,423.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lance Berberian sold 12,093 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the transaction, the executive vice president now owns 15,921 shares of the company’s stock, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,679 shares of company stock worth $6,946,306. Corporate insiders own 0.85% of the company’s stock.

Laboratory Co. of America Trading Down 1.0 %

Shares of LH stock opened at $228.27 on Friday. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $239.50. The firm has a 50 day moving average price of $222.67 and a two-hundred day moving average price of $212.98. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.17 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.77 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.38 EPS. As a group, analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.26%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on LH. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Truist Financial boosted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.92.

About Laboratory Co. of America

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.