Glenmede Trust Co. NA Grows Stock Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Glenmede Trust Co. NA grew its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,354 shares of the medical research company's stock after acquiring an additional 2,949 shares during the period. Glenmede Trust Co. NA owned 0.35% of Laboratory Co. of America worth $66,006,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of Laboratory Co. of America by 99.3% in the first quarter. Advisors Asset Management Inc. now owns 2,178 shares of the medical research company's stock valued at $476,000 after acquiring an additional 1,085 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Laboratory Co. of America by 2.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,488 shares of the medical research company's stock valued at $25,012,000 after purchasing an additional 2,934 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Laboratory Co. of America by 13.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,433 shares of the medical research company's stock valued at $690,000 after purchasing an additional 414 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Laboratory Co. of America by 10.4% in the first quarter. Tidal Investments LLC now owns 6,341 shares of the medical research company's stock worth $1,385,000 after purchasing an additional 596 shares during the period. Finally, Comerica Bank raised its position in shares of Laboratory Co. of America by 2.8% in the first quarter. Comerica Bank now owns 47,384 shares of the medical research company's stock worth $10,352,000 after buying an additional 1,289 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the director now directly owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company's stock, valued at $21,289,260.27. This trade represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,861 shares of company stock worth $2,853,533 in the last three months. 0.85% of the stock is owned by insiders.

Laboratory Co. of America Stock Performance

NYSE LH opened at $238.73 on Wednesday. The company has a 50-day simple moving average of $226.67 and a two-hundred day simple moving average of $217.61. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The firm has a market cap of $19.97 billion, a price-to-earnings ratio of 46.18, a PEG ratio of 1.99 and a beta of 1.05. 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 issued its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.38 EPS. On average, equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS 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 paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's payout ratio is 55.71%.

Analysts Set New Price Targets

Several research firms recently commented on LH. Evercore ISI reduced their target price 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. Piper Sandler boosted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Jefferies Financial Group raised their target price on shares of Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Robert W. Baird boosted their price target on shares of Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Finally, Hsbc Global Res upgraded shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Five 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 stock. Based on data from MarketBeat, Laboratory Co. of America presently 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.

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