10,363 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC bought a new position in Laboratory Co. of America Holdings (NYSE:LH) in the 3rd quarter, Holdings Channel.com reports. The firm bought 10,363 shares of the medical research company’s stock, valued at approximately $2,316,000.

Several other hedge funds have also recently added to or reduced their stakes 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 bought a new position in shares of Laboratory Co. of America during the first quarter valued at about $30,000. Industrial Alliance Investment Management Inc. purchased a new position in shares of Laboratory Co. of America in the second quarter worth about $27,000. Innealta Capital LLC bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at about $32,000. Finally, Riverview Trust Co boosted its holdings 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 valued at $38,000 after acquiring an additional 107 shares during the period. Institutional investors own 95.94% of the company’s stock.

Laboratory Co. of America Stock Performance

Shares of LH stock opened at $239.67 on Monday. The stock has a market cap of $20.05 billion, a PE ratio of 46.36, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05. 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 business has a 50-day simple moving average of $226.12 and a 200-day simple moving average of $217.14. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99.

Laboratory Co. of America (NYSE:LH) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $3.38 earnings per share. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. Laboratory Co. of America’s payout ratio is presently 55.71%.

Insider Transactions at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LH. Hsbc Global Res raised shares of Laboratory Co. of America from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Evercore ISI cut their target price on Laboratory Co. of America from $250.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Finally, Piper Sandler upped their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, October 28th. Five research 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. Based on data from MarketBeat, Laboratory Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $255.92.

Laboratory Co. of America 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.