Dynamic Technology Lab Private Ltd Makes New $1.66 Million Investment in Laboratory Co. of America Holdings (NYSE:LH)

Dynamic Technology Lab Private Ltd bought a new position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,417 shares of the medical research company's stock, valued at approximately $1,658,000.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Laboratory Co. of America by 135.0% in the second quarter. Bank of New York Mellon Corp now owns 1,609,826 shares of the medical research company's stock valued at $327,616,000 after buying an additional 924,881 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in Laboratory Co. of America by 25.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,949,640 shares of the medical research company's stock valued at $396,771,000 after purchasing an additional 395,197 shares in the last quarter. Select Equity Group L.P. acquired a new position in Laboratory Co. of America during the second quarter worth $73,928,000. Allspring Global Investments Holdings LLC boosted its position in Laboratory Co. of America by 16.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,865,460 shares of the medical research company's stock worth $416,893,000 after purchasing an additional 263,105 shares in the last quarter. Finally, Cooke & Bieler LP grew its holdings in Laboratory Co. of America by 26.8% in the second quarter. Cooke & Bieler LP now owns 928,250 shares of the medical research company's stock valued at $188,908,000 after purchasing an additional 196,119 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Down 1.1 %

LH traded down $2.56 during midday trading on Tuesday, hitting $238.73. The company's stock had a trading volume of 604,591 shares, compared to its average volume of 671,301. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The firm has a 50-day moving average price of $226.67 and a two-hundred day moving average price of $217.61. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.97 billion, a P/E ratio of 46.18, a PEG ratio of 1.97 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate 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 was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.38 earnings per share. On average, research analysts anticipate that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is currently 55.71%.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the transaction, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,861 shares of company stock worth $2,853,533. 0.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LH shares. Barclays lifted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a research note on Friday, October 25th. Piper Sandler upped their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Hsbc Global Res raised shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Bank of America upped 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. Finally, 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. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $255.92.

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.