51,000 Shares in Laboratory Co. of America Holdings (NYSE:LH) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,000 shares of the medical research company's stock, valued at approximately $11,397,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Laboratory Co. of America as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in LH. Industrial Alliance Investment Management Inc. bought a new stake in Laboratory Co. of America during the 2nd quarter worth about $27,000. SouthState Corp bought a new stake in Laboratory Co. of America during the third quarter worth about $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter valued at approximately $29,000. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America in the first quarter valued at approximately $30,000. Finally, Innealta Capital LLC acquired a new position in shares of Laboratory Co. of America during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares of the company's stock, valued at approximately $1,031,613.38. This trade represents a 45.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 6,189 shares of the business's stock in a transaction on 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 $21,289,260.27. This trade represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,861 shares of company stock valued at $2,853,533 in the last three months. Corporate insiders own 0.85% of the company's stock.

Laboratory Co. of America Stock Performance

Shares of Laboratory Co. of America stock traded down $1.12 during trading on Friday, reaching $241.03. The company's stock had a trading volume of 293,494 shares, compared to its average volume of 668,682. 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 market cap of $20.16 billion, a PE ratio of 46.62, a P/E/G ratio of 1.99 and a beta of 1.05. The business's 50-day moving average price is $227.70 and its 200-day moving average price is $218.16. 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 posted its quarterly earnings data 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the firm posted $3.38 EPS. The business's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.19%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 55.71%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LH. Truist Financial increased their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Robert W. Baird lifted their price objective on shares of 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. Hsbc Global Res raised shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Evercore ISI reduced 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 report on Tuesday, September 24th. Finally, Piper Sandler boosted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Five investment 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target 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.