Creative Planning cut its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,530 shares of the medical research company's stock after selling 2,324 shares during the quarter. Creative Planning's holdings in Laboratory Co. of America were worth $2,353,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America during the second quarter worth $27,000. Pathway Financial Advisers LLC bought a new position in Laboratory Co. of America during the first quarter worth $30,000. Innealta Capital LLC bought a new position in Laboratory Co. of America during the second quarter worth $32,000. Family Firm Inc. bought a new position in Laboratory Co. of America during the second quarter worth $37,000. Finally, McClarren Financial Advisors Inc. boosted its position in Laboratory Co. of America by 313.2% during the first quarter. McClarren Financial Advisors Inc. now owns 219 shares of the medical research company's stock worth $48,000 after purchasing an additional 166 shares during the period. 95.94% of the stock is owned by institutional investors.
Laboratory Co. of America Trading Down 0.5 %
LH stock traded down $1.21 during trading on Monday, hitting $227.42. The company had a trading volume of 720,472 shares, compared to its average volume of 562,161. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $239.50. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average of $222.63 and a 200-day moving average of $212.59. The stock has a market cap of $19.09 billion, a PE ratio of 43.99, a PEG ratio of 1.77 and a beta of 1.05.
Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (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 firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the firm earned $3.38 earnings per share. The company's revenue was up 7.4% compared to the same quarter last year. Research analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal 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 given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, November 26th. Laboratory Co. of America's payout ratio is currently 55.71%.
Wall Street Analysts Forecast Growth
LH has been the subject of a number of research reports. Barclays lifted their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a report on Friday. Evercore ISI dropped 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 report on Tuesday, September 24th. Robert W. Baird lifted their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a report on Friday. Truist Financial lifted their target price on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, Piper Sandler boosted their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $253.92.
Read Our Latest Stock Report on Laboratory Co. of America
Insider Activity at Laboratory Co. of America
In related news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares of the company's stock, valued at approximately $3,647,501.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Laboratory Co. of America news, 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 value of $230,000.00. Following the completion of the transaction, the director now owns 13,722 shares in the company, valued at $3,156,060. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lance Berberian sold 12,093 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total value of $2,770,506.30. Following the completion of the transaction, the executive vice president now owns 15,921 shares of the company's stock, valued at $3,647,501.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,679 shares of company stock valued at $6,946,306. 0.85% of the stock is owned by insiders.
About Laboratory Co. of America
(
Free Report)
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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