Crossmark Global Holdings Inc. Has $1.17 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Crossmark Global Holdings Inc. cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH) by 8.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,242 shares of the medical research company’s stock after selling 504 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Laboratory Co. of America were worth $1,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. Covestor Ltd bought a new stake in Laboratory Co. of America in the 3rd quarter valued at $195,000. Sheets Smith Wealth Management lifted its holdings in shares of Laboratory Co. of America by 6.1% during the third quarter. Sheets Smith Wealth Management now owns 2,776 shares of the medical research company’s stock worth $620,000 after buying an additional 159 shares in the last quarter. Tompkins Financial Corp bought a new stake in shares of Laboratory Co. of America in the third quarter valued at about $223,000. Verdence Capital Advisors LLC grew its stake in shares of Laboratory Co. of America by 3.2% in the third quarter. Verdence Capital Advisors LLC now owns 1,914 shares of the medical research company’s stock valued at $428,000 after acquiring an additional 60 shares in the last quarter. Finally, Equitable Trust Co. increased its position in Laboratory Co. of America by 4.1% during the third quarter. Equitable Trust Co. now owns 87,787 shares of the medical research company’s stock worth $19,619,000 after acquiring an additional 3,468 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Trading Up 0.8 %

LH opened at $246.22 on Thursday. The company has a market cap of $20.59 billion, a P/E ratio of 47.62, a PEG ratio of 2.01 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. The company’s 50 day moving average is $223.60 and its 200-day moving average is $215.03. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99.

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

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.17%. Laboratory Co. of America’s dividend payout ratio is presently 55.71%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LH shares. HSBC raised shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. Piper Sandler increased their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, October 28th. Truist Financial lifted their price objective 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 target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Robert W. Baird boosted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.92.

Insider Activity

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the sale, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Adam H. Schechter sold 6,189 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now directly owns 87,441 shares of the company’s stock, valued at $21,289,260.27. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the sale, the director now owns 13,722 shares in the company, valued at $3,156,060. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,189 shares of company stock valued at $2,190,936. 0.85% of the stock is currently 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.