Integrated Wealth Concepts LLC Acquires 2,613 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Integrated Wealth Concepts LLC raised its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 108.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,016 shares of the medical research company's stock after buying an additional 2,613 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Laboratory Co. of America were worth $1,121,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Diamond Hill Capital Management Inc. lifted its holdings in Laboratory Co. of America by 1.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock worth $442,197,000 after purchasing an additional 29,046 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Laboratory Co. of America by 16.4% in 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 buying an additional 263,105 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 acquiring an additional 924,881 shares during the period. FMR LLC grew its stake in Laboratory Co. of America by 17.0% during the third quarter. FMR LLC now owns 1,586,397 shares of the medical research company's stock valued at $354,528,000 after acquiring an additional 230,708 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Laboratory Co. of America by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,645 shares of the medical research company's stock worth $288,519,000 after acquiring an additional 33,497 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Trading Up 1.5 %

Shares of NYSE LH traded up $3.58 during midday trading on Monday, reaching $236.15. The company had a trading volume of 298,643 shares, compared to its average volume of 661,989. The firm's fifty day moving average price is $229.29 and its 200-day moving average price is $219.30. 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 Holdings has a one year low of $191.97 and a one year high of $247.99. The stock has a market cap of $19.75 billion, a PE ratio of 44.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm posted $3.38 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's payout ratio is 55.71%.

Analyst Ratings Changes

Several brokerages have commented on LH. Piper Sandler raised 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. Barclays lifted their price objective on Laboratory Co. of America from $234.00 to $249.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. StockNews.com lowered Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. 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 research report on Friday, October 25th. 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $255.92.

Insider Activity

In related news, CEO Adam H. Schechter sold 6,189 shares of Laboratory Co. of America stock in a transaction on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares in the company, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 1,000 shares of the company's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares of the company's stock, valued at $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,572 shares of company stock valued at $5,910,209. Insiders own 0.85% of the company's stock.

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.