Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by First National Bank of Mount Dora Trust Investment Services

First National Bank of Mount Dora Trust Investment Services raised its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 35.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,570 shares of the medical research company's stock after buying an additional 3,041 shares during the quarter. First National Bank of Mount Dora Trust Investment Services' holdings in Laboratory Co. of America were worth $2,586,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LH. Horizon Bancorp Inc. IN purchased a new stake in shares of Laboratory Co. of America during the third quarter valued at $29,000. Pathway Financial Advisers LLC bought a new stake in Laboratory Co. of America in the 1st quarter worth approximately $30,000. Industrial Alliance Investment Management Inc. purchased a new stake in Laboratory Co. of America during the 2nd quarter valued at $27,000. Innealta Capital LLC bought a new position in shares of Laboratory Co. of America during the 2nd quarter valued at $32,000. Finally, Riverview Trust Co lifted its holdings in Laboratory Co. of America by 172.6% in the third quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock valued at $38,000 after acquiring an additional 107 shares during the period. 95.94% of the stock is owned by institutional investors.

Laboratory Co. of America Stock Up 0.0 %

Shares of LH stock traded up $0.07 during mid-day trading on Monday, hitting $227.17. The stock had a trading volume of 396,543 shares, compared to its average volume of 667,134. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.44 and a quick ratio of 1.30. The firm's 50-day moving average is $222.53 and its two-hundred day moving average is $213.51. The firm has a market capitalization of $19.00 billion, a P/E ratio of 43.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.05. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $239.50.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data 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. 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 quarter in the previous year, the firm posted $3.38 earnings per share. Laboratory Co. of America's revenue for the quarter was up 7.4% compared to the same quarter last year. On average, analysts predict that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.27%. Laboratory Co. of America's dividend payout ratio is presently 55.71%.

Insider Transactions at Laboratory Co. of America

In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the transaction, the chief financial officer now directly owns 31,289 shares of the company's stock, valued at $7,008,423.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $227.05, for a total value of $454,100.00. Following the completion of the transaction, the executive vice president now directly owns 3,670 shares in the company, valued at $833,273.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Glenn A. Eisenberg sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $223.99, for a total value of $3,359,850.00. Following the completion of the sale, the chief financial officer now owns 31,289 shares in the company, valued at approximately $7,008,423.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,586 shares of company stock valued at $4,175,800 in the last quarter. 0.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LH has been the topic of several recent research reports. Truist Financial raised their price objective on Laboratory Co. of America from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Piper Sandler upped their target price on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Bank of America increased their price target 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. UBS Group boosted their price objective on Laboratory Co. of America from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their target price 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. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of "Moderate Buy" and a consensus target price of $255.92.

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.