Pathstone Holdings LLC Grows Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Pathstone Holdings LLC boosted its position in shares of Laboratory Co. of America Holdings (NYSE:LH) by 124.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,165 shares of the medical research company’s stock after buying an additional 5,637 shares during the quarter. Pathstone Holdings LLC’s holdings in Laboratory Co. of America were worth $2,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. lifted its stake in shares of Laboratory Co. of America by 99.3% during the 1st quarter. Advisors Asset Management Inc. now owns 2,178 shares of the medical research company’s stock worth $476,000 after acquiring an additional 1,085 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Laboratory Co. of America by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company’s stock worth $25,012,000 after purchasing an additional 2,934 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Laboratory Co. of America by 13.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,433 shares of the medical research company’s stock worth $690,000 after buying an additional 414 shares during the period. Tidal Investments LLC boosted its position in Laboratory Co. of America by 10.4% in the 1st quarter. Tidal Investments LLC now owns 6,341 shares of the medical research company’s stock valued at $1,385,000 after buying an additional 596 shares during the period. Finally, Comerica Bank grew its stake in Laboratory Co. of America by 2.8% in the 1st quarter. Comerica Bank now owns 47,384 shares of the medical research company’s stock worth $10,352,000 after acquiring an additional 1,289 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LH shares. Deutsche Bank Aktiengesellschaft boosted their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a report on Friday, August 2nd. UBS Group increased their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their price objective 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. Truist Financial increased their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com cut shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $255.92.

Insiders Place Their Bets

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Amy B. Summy sold 3,672 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,861 shares of company stock valued at $2,853,533. Insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Down 1.1 %

Laboratory Co. of America stock opened at $238.73 on Wednesday. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. The business has a fifty day moving average price of $226.67 and a 200-day moving average price of $217.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 46.18, a PEG ratio of 1.97 and a beta of 1.05.

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

Laboratory Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America’s payout ratio is 55.71%.

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.