SFE Investment Counsel raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 21.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,779 shares of the medical research company's stock after purchasing an additional 5,101 shares during the quarter. Laboratory Co. of America accounts for 1.3% of SFE Investment Counsel's portfolio, making the stock its 23rd largest position. SFE Investment Counsel's holdings in Laboratory Co. of America were worth $6,432,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in LH. Industrial Alliance Investment Management Inc. acquired a new stake in Laboratory Co. of America during the second quarter worth about $27,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Laboratory Co. of America during the 3rd quarter worth approximately $29,000. Pathway Financial Advisers LLC acquired a new stake in shares of Laboratory Co. of America during the 1st quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in shares of Laboratory Co. of America in the 2nd quarter worth approximately $32,000. Finally, Family Firm Inc. acquired a new position in Laboratory Co. of America during the 2nd quarter valued at approximately $37,000. 95.94% of the stock is owned by institutional investors and hedge funds.
Laboratory Co. of America Price Performance
LH stock traded up $0.71 during trading on Tuesday, hitting $228.09. 640,241 shares of the stock traded hands, compared to its average volume of 669,082. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of 44.12, a P/E/G ratio of 1.77 and a beta of 1.05. 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 company has a 50 day simple moving average of $222.68 and a 200 day simple moving average of $212.75.
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 for the quarter, beating the consensus estimate 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 analysts' expectations of $3.26 billion. During the same quarter last year, the company posted $3.38 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts expect that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.
Laboratory Co. of America Announces Dividend
The firm 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is 55.71%.
Insiders Place Their Bets
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now owns 13,722 shares of the company's stock, valued at approximately $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Lance Berberian sold 12,093 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the sale, the executive vice president now owns 15,921 shares of the company's stock, valued at approximately $3,647,501.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,679 shares of company stock valued at $6,946,306. Company insiders own 0.85% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Robert W. Baird increased 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. Barclays boosted 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. Jefferies Financial Group increased their price target on 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. Finally, Bank of America boosted their price objective on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $253.92.
Check Out Our Latest Stock Report on Laboratory Co. of America
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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