Centiva Capital LP Makes New Investment in Laboratory Co. of America Holdings (NYSE:LH)

Centiva Capital LP purchased a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,562 shares of the medical research company's stock, valued at approximately $1,466,000.

Other large investors have also modified their holdings of the company. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Laboratory Co. of America during the second quarter worth $27,000. SouthState Corp purchased a new stake in Laboratory Co. of America in the 3rd quarter valued at about $28,000. Horizon Bancorp Inc. IN purchased a new stake in Laboratory Co. of America in the 3rd quarter valued at about $29,000. Innealta Capital LLC purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth about $32,000. Finally, Family Firm Inc. purchased a new stake in shares of Laboratory Co. of America during the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

LH has been the subject of a number of recent research reports. Piper Sandler raised their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Robert W. Baird boosted their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Evercore ISI dropped their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, September 24th. Finally, Barclays boosted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.92.

Insider Activity

In other news, Director Kerrii B. Anderson sold 1,000 shares of the business'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 sale, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the sale, the executive vice president now owns 31,289 shares of the company's stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock valued at $5,910,209. Company insiders own 0.85% of the company's stock.

Laboratory Co. of America Trading Down 1.3 %

LH stock traded down $3.22 during mid-day trading on Wednesday, reaching $237.35. The company had a trading volume of 378,818 shares, compared to its average volume of 665,600. 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 firm has a 50 day moving average of $228.79 and a 200 day moving average of $218.78. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. The company has a market capitalization of $19.85 billion, a PE ratio of 45.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its 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 company had revenue of $3.28 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.38 earnings per share. On average, equities analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced 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. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is presently 55.71%.

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.