Alexander Randolph Advisory Inc. Acquires Shares of 4,273 Laboratory Co. of America Holdings (NYSE:LH)

Alexander Randolph Advisory Inc. acquired a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,273 shares of the medical research company's stock, valued at approximately $955,000. Laboratory Co. of America accounts for approximately 0.8% of Alexander Randolph Advisory Inc.'s portfolio, making the stock its 29th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter worth about $27,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America in the third quarter worth about $29,000. Pathway Financial Advisers LLC purchased a new stake in shares of Laboratory Co. of America in the first quarter worth about $30,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America in the second quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in Laboratory Co. of America during the second quarter valued at approximately $37,000. Institutional investors own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

LH has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective 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. Bank of America upped their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Piper Sandler upped their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a research report on Monday, October 28th. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, Barclays upped their price objective on 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. Five equities research 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 company's stock. According to MarketBeat, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average price target of $255.92.

Laboratory Co. of America Trading Up 0.8 %

NYSE:LH traded up $1.96 during midday trading on Wednesday, hitting $246.22. The stock had a trading volume of 623,910 shares, compared to its average volume of 667,040. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 47.58, a PEG ratio of 2.01 and a beta of 1.05. The stock has a 50-day moving average of $223.60 and a 200 day moving average of $215.03. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) 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 company had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the prior year, the firm earned $3.38 earnings per share. Laboratory Co. of America's revenue was up 7.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The business 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 dividend of $0.72 per share. 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 (DPR) is presently 55.71%.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total transaction of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $227.05, for a total value of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares of the company's stock, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock valued at $5,550,786. 0.85% of the stock is currently owned by corporate insiders.

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.