4,000 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by Oak Harvest Investment Services

Oak Harvest Investment Services purchased 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 filing with the Securities and Exchange Commission (SEC). The fund purchased 4,000 shares of the medical research company's stock, valued at approximately $894,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in Laboratory Co. of America by 3.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,581 shares of the medical research company's stock valued at $3,622,000 after purchasing an additional 550 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Laboratory Co. of America by 2.4% in the first quarter. First Trust Direct Indexing L.P. now owns 4,291 shares of the medical research company's stock valued at $937,000 after purchasing an additional 100 shares in the last quarter. Tempus Wealth Planning LLC grew its stake in Laboratory Co. of America by 8.9% in the first quarter. Tempus Wealth Planning LLC now owns 1,616 shares of the medical research company's stock valued at $353,000 after purchasing an additional 132 shares in the last quarter. American National Bank & Trust Co. VA purchased a new position in Laboratory Co. of America in the first quarter valued at about $284,000. Finally, Sequoia Financial Advisors LLC grew its stake in Laboratory Co. of America by 54.6% in the first quarter. Sequoia Financial Advisors LLC now owns 135,161 shares of the medical research company's stock valued at $29,527,000 after purchasing an additional 47,744 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Laboratory Co. of America Price Performance

Shares of LH stock traded down $2.29 during trading hours on Thursday, hitting $228.27. The company had a trading volume of 566,597 shares, compared to its average volume of 668,516. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $239.50. The firm has a market capitalization of $19.17 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 1.77 and a beta of 1.05. The firm's fifty day moving average is $222.67 and its 200 day moving average is $212.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44.

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 EPS for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.38 EPS. On average, sell-side analysts predict that Laboratory Co. of America Holdings will post 14.53 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

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 issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.26%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio is 55.71%.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of analyst reports. Bank of America boosted their price target on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. UBS Group boosted their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. 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. Truist Financial boosted their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, Evercore ISI cut their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating for the company in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average price target of $253.92.

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the company'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 transaction, the executive vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of the company'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 transaction, the executive vice president now 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $225.00, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 14,722 shares in the company, valued at approximately $3,312,450. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,679 shares of company stock valued at $6,946,306. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Company 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.