2,415 Shares in Laboratory Co. of America Holdings (NYSE:LH) Acquired by MQS Management LLC

MQS Management LLC bought a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,415 shares of the medical research company's stock, valued at approximately $540,000.

A number of other large investors have also recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in Laboratory Co. of America by 1.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,543 shares of the medical research company's stock worth $42,136,000 after acquiring an additional 2,339 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Laboratory Co. of America by 49.2% during the third quarter. Venturi Wealth Management LLC now owns 1,625 shares of the medical research company's stock worth $363,000 after acquiring an additional 536 shares in the last quarter. Jag Capital Management LLC boosted its stake in Laboratory Co. of America by 2.1% during the third quarter. Jag Capital Management LLC now owns 13,794 shares of the medical research company's stock worth $3,083,000 after acquiring an additional 288 shares in the last quarter. Catalytic Wealth RIA LLC bought a new stake in Laboratory Co. of America during the third quarter worth about $527,000. Finally, Diamond Hill Capital Management Inc. raised its holdings in Laboratory Co. of America by 1.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock worth $442,197,000 after buying an additional 29,046 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on LH shares. Bank of America lifted their target price on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Monday, August 5th. Robert W. Baird boosted 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 report on Friday, October 25th. UBS Group boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 2nd. 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. Finally, Piper Sandler boosted their price objective 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. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $255.92.

Laboratory Co. of America Price Performance

Laboratory Co. of America stock traded down $7.99 during mid-day trading on Thursday, reaching $238.23. 898,948 shares of the company's stock traded hands, compared to its average volume of 668,091. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 47.62, a PEG ratio of 2.01 and a beta of 1.05. The stock has a 50 day moving average of $223.96 and a two-hundred day moving average of $215.25. 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 12-month low of $191.97 and a 12-month high of $247.99.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly 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. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $3.38 earnings per share. Laboratory Co. of America's revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The business also recently declared 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 yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio is presently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, CEO Adam H. Schechter sold 6,189 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $243.47, for a total transaction of $1,506,835.83. Following the transaction, the chief executive officer now directly owns 87,441 shares in the company, valued at $21,289,260.27. This represents a 6.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the transaction, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. The trade was a 35.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,189 shares of company stock valued at $2,190,936 in the last 90 days. Company 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.