Capital Performance Advisors LLP Takes $66,000 Position in Laboratory Co. of America Holdings (NYSE:LH)

Capital Performance Advisors LLP purchased a new position in shares of Laboratory Co. of America Holdings (NYSE:LH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 297 shares of the medical research company’s stock, valued at approximately $66,000.

A number of other institutional investors and hedge funds have also modified their holdings of LH. Principal Financial Group Inc. grew its holdings in Laboratory Co. of America by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 96,596 shares of the medical research company’s stock worth $21,587,000 after acquiring an additional 2,595 shares during the period. American Capital Advisory LLC boosted its position in shares of Laboratory Co. of America by 193.5% in the 3rd quarter. American Capital Advisory LLC now owns 14,436 shares of the medical research company’s stock worth $3,226,000 after purchasing an additional 9,517 shares during the last quarter. Foster & Motley Inc. grew its stake in shares of Laboratory Co. of America by 5.0% during the third quarter. Foster & Motley Inc. now owns 7,371 shares of the medical research company’s stock worth $1,647,000 after purchasing an additional 349 shares during the period. Crestwood Advisors Group LLC bought a new stake in Laboratory Co. of America in the third quarter valued at about $209,000. Finally, River Road Asset Management LLC lifted its stake in Laboratory Co. of America by 37.8% in the third quarter. River Road Asset Management LLC now owns 284,097 shares of the medical research company’s stock valued at $63,490,000 after buying an additional 77,921 shares during the period. 95.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. HSBC upgraded Laboratory Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Truist Financial boosted their price target on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Robert W. Baird raised their price objective on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Finally, Bank of America boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Laboratory Co. of America has an average rating of “Moderate Buy” and an average price target of $255.92.

Laboratory Co. of America Trading Up 1.4 %

Shares of Laboratory Co. of America stock opened at $242.39 on Friday. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $243.78. The company has a market capitalization of $20.27 billion, a price-to-earnings ratio of 46.88, a P/E/G ratio of 1.93 and a beta of 1.05. The business has a fifty day simple moving average of $223.02 and a two-hundred day simple moving average of $214.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30.

Laboratory Co. of America (NYSE:LH) last announced its quarterly earnings results 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 business had revenue of $3.28 billion for 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.38 EPS. Research analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.19%. Laboratory Co. of America’s dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the sale, the director now directly owns 13,722 shares of the company’s stock, valued at approximately $3,156,060. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company’s stock, valued at approximately $7,008,423.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,000 shares of company stock valued at $4,043,950 in the last ninety days. 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.