abrdn plc Has $17.14 Million Stake in Laboratory Co. of America Holdings (NYSE:LH)

abrdn plc boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 13.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,999 shares of the medical research company's stock after buying an additional 9,328 shares during the period. abrdn plc owned approximately 0.09% of Laboratory Co. of America worth $17,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Industrial Alliance Investment Management Inc. bought a new stake in shares of Laboratory Co. of America in the 2nd quarter valued at about $27,000. Horizon Bancorp Inc. IN bought a new stake in Laboratory Co. of America in the third quarter valued at approximately $29,000. Pathway Financial Advisers LLC acquired a new stake in Laboratory Co. of America in the first quarter worth $30,000. Innealta Capital LLC bought a new position in shares of Laboratory Co. of America during the second quarter worth $32,000. Finally, Family Firm Inc. bought a new position in shares of Laboratory Co. of America during the second quarter worth $37,000. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler increased their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday. UBS Group increased their target price on Laboratory Co. of America from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their price target on shares of 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. Robert W. Baird upped their price target 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. Finally, HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $255.92.

Insider Buying and Selling at Laboratory Co. of America

In other Laboratory Co. of America news, EVP Lance Berberian sold 12,093 shares of Laboratory Co. of America stock in a transaction dated 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 directly owns 15,921 shares of the company's stock, valued at approximately $3,647,501.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lance Berberian sold 12,093 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $229.10, for a total transaction of $2,770,506.30. Following the completion of the sale, the executive vice president now directly owns 15,921 shares in the company, valued at $3,647,501.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 586 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $225.00, for a total value of $131,850.00. Following the sale, the director now owns 14,722 shares of the company's stock, valued at approximately $3,312,450. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,679 shares of company stock worth $6,946,306. 0.85% of the stock is currently owned by company insiders.

Laboratory Co. of America Price Performance

Shares of LH traded down $1.17 during midday trading on Friday, hitting $227.10. The company's stock had a trading volume of 636,932 shares, compared to its average volume of 668,388. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 1.90 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's fifty day simple moving average is $222.59 and its two-hundred day simple moving average is $213.14.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $3.38 earnings per share. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, equities analysts expect 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Tuesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.27%. Laboratory Co. of America's dividend payout ratio is presently 55.71%.

About Laboratory Co. of America

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.