Financial Counselors Inc. Makes New $12.86 Million Investment in Laboratory Co. of America Holdings (NYSE:LH)

Financial Counselors Inc. acquired a new stake 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 SEC. The institutional investor acquired 57,555 shares of the medical research company's stock, valued at approximately $12,862,000. Financial Counselors Inc. owned approximately 0.07% of Laboratory Co. of America as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Laboratory Co. of America by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 914,019 shares of the medical research company's stock worth $204,265,000 after purchasing an additional 49,203 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Laboratory Co. of America by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company's stock worth $3,953,000 after buying an additional 2,234 shares during the period. CreativeOne Wealth LLC raised its holdings in Laboratory Co. of America by 19.7% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company's stock valued at $332,000 after buying an additional 245 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Laboratory Co. of America during the 3rd quarter valued at $11,397,000. Finally, Blueshift Asset Management LLC bought a new stake in Laboratory Co. of America in the 3rd quarter worth $2,558,000. Institutional investors own 95.94% of the company's stock.

Insider Activity at Laboratory Co. of America

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the transaction, the chief executive officer now directly owns 87,441 shares of the company's stock, valued at approximately $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. 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 1,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total transaction of $239,420.00. Following the sale, the executive vice president now directly owns 2,670 shares of the company's stock, valued at $639,251.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,861 shares of company stock worth $2,853,533 over the last quarter. Company insiders own 0.85% of the company's stock.

Laboratory Co. of America Stock Down 0.5 %

LH traded down $1.12 during trading on Friday, hitting $241.03. 293,494 shares of the company's stock traded hands, compared to its average volume of 668,682. The stock has a market capitalization of $20.16 billion, a price-to-earnings ratio of 46.62, a PEG ratio of 1.99 and a beta of 1.05. The company's 50 day simple moving average is $227.70 and its two-hundred day simple moving average is $218.16. 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 current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

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

Laboratory Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.19%. Laboratory Co. of America's payout ratio is 55.71%.

Analysts Set New Price Targets

LH has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. UBS Group lifted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Finally, Robert W. Baird upped their price objective on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America presently has an average rating of "Moderate Buy" and a consensus target price of $255.92.

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.