Independent Advisor Alliance Sells 244 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Independent Advisor Alliance lessened its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 10.8% during the third quarter, HoldingsChannel reports. The fund owned 2,023 shares of the medical research company’s stock after selling 244 shares during the quarter. Independent Advisor Alliance’s holdings in Laboratory Co. of America were worth $452,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LH. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter worth approximately $27,000. SouthState Corp purchased a new stake in Laboratory Co. of America in the 3rd quarter valued at $28,000. Horizon Bancorp Inc. IN bought a new position in Laboratory Co. of America during the 3rd quarter valued at $29,000. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America during the 1st quarter valued at $30,000. Finally, Innealta Capital LLC purchased a new position in Laboratory Co. of America during the 2nd quarter worth $32,000. Institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction 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 in the company, valued at $3,156,060. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy B. Summy sold 3,672 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the completion of the sale, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. This trade represents a 45.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,861 shares of company stock worth $2,853,533 in the last quarter. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Price Performance

Shares of NYSE:LH opened at $242.15 on Friday. The company has a 50-day moving average price of $227.32 and a two-hundred day moving average price of $217.95. Laboratory Co. of America Holdings has a twelve month low of $191.97 and a twelve month high of $247.99. 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 firm has a market capitalization of $20.25 billion, a PE ratio of 46.84, a P/E/G ratio of 1.99 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data 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. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. Laboratory Co. of America’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.38 EPS. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

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 issued 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 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is 55.71%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of Laboratory Co. of America from $234.00 to $249.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. StockNews.com downgraded Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Robert W. Baird increased their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Piper Sandler boosted their price objective 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. Finally, Evercore ISI decreased their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America presently has an average rating of “Moderate Buy” and an average target price 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.