Catalytic Wealth RIA LLC Invests $527,000 in Laboratory Co. of America Holdings (NYSE:LH)

Catalytic Wealth RIA LLC acquired a new stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,356 shares of the medical research company's stock, valued at approximately $527,000.

Other hedge funds have also modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its stake in shares of Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock valued at $442,197,000 after buying an additional 29,046 shares during the period. Kennebec Savings Bank acquired a new position in shares of Laboratory Co. of America during the 3rd quarter worth $42,000. Jensen Investment Management Inc. grew its stake in Laboratory Co. of America by 2.5% during the third quarter. Jensen Investment Management Inc. now owns 36,590 shares of the medical research company's stock worth $8,177,000 after purchasing an additional 900 shares during the period. Covestor Ltd bought a new position in shares of Laboratory Co. of America during the third quarter valued at about $195,000. Finally, Sheets Smith Wealth Management grew its holdings in Laboratory Co. of America by 6.1% during the 3rd quarter. Sheets Smith Wealth Management now owns 2,776 shares of the medical research company's stock valued at $620,000 after buying an additional 159 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LH. HSBC upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Evercore ISI dropped their price target 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. Jefferies Financial Group increased their target price on Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price 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. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $255.92.

Laboratory Co. of America Stock Up 0.1 %

Shares of NYSE:LH traded up $0.34 during trading on Tuesday, hitting $244.26. The company's stock had a trading volume of 733,887 shares, compared to its average volume of 667,219. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The business has a 50 day moving average price of $223.31 and a two-hundred day moving average price of $214.71. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The company has a market capitalization of $20.43 billion, a PE ratio of 47.28, a P/E/G ratio of 1.99 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.38 earnings per share. As a group, research analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Announces Dividend

The firm 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 $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's payout ratio is 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 company'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 transaction, the chief financial officer now directly owns 31,289 shares in the company, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was 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 in the company, valued at approximately $833,273.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn A. Eisenberg sold 15,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $223.99, for a total value of $3,359,850.00. Following the transaction, the chief financial officer now owns 31,289 shares of the company's stock, valued at $7,008,423.11. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,000 shares of company stock valued at $4,043,950. 0.85% of the stock is currently owned by corporate insiders.

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.