River Road Asset Management LLC boosted its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 37.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,097 shares of the medical research company's stock after buying an additional 77,921 shares during the period. River Road Asset Management LLC owned approximately 0.34% of Laboratory Co. of America worth $63,490,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Mirae Asset Global Investments Co. Ltd. boosted its stake in Laboratory Co. of America by 27.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,219 shares of the medical research company's stock valued at $12,172,000 after purchasing an additional 11,917 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Laboratory Co. of America by 11.4% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,049 shares of the medical research company's stock valued at $448,000 after purchasing an additional 209 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Laboratory Co. of America during the 1st quarter valued at $124,000. Daiwa Securities Group Inc. boosted its stake in Laboratory Co. of America by 3.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,482 shares of the medical research company's stock valued at $2,071,000 after purchasing an additional 319 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in Laboratory Co. of America by 28.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,298 shares of the medical research company's stock valued at $502,000 after purchasing an additional 513 shares during the last quarter. Institutional investors own 95.94% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. Jefferies Financial Group raised their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. Robert W. Baird raised their price target on Laboratory Co. of America from $282.00 to $289.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Evercore ISI dropped their price target on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 24th. UBS Group raised their price target 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. Finally, Piper Sandler raised their price target on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, October 28th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Laboratory Co. of America has a consensus rating of "Moderate Buy" and a consensus target price of $255.92.
View Our Latest Report on Laboratory Co. of America
Insider Buying and Selling
In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Glenn A. Eisenberg sold 15,000 shares of the business'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 transaction, the chief financial officer now owns 31,289 shares of the company's stock, valued at $7,008,423.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total transaction of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company's stock, valued at $3,156,060. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,586 shares of company stock worth $4,175,800. Corporate insiders own 0.85% of the company's stock.
Laboratory Co. of America Price Performance
NYSE:LH traded up $1.94 on Tuesday, reaching $229.11. 395,248 shares of the company's stock traded hands, compared to its average volume of 665,863. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $239.50. 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 50-day simple moving average of $222.51 and a 200-day simple moving average of $213.71. The firm has a market cap of $19.16 billion, a PE ratio of 44.32, a P/E/G ratio of 1.87 and a beta of 1.05.
Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its 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 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 analysts' expectations of $3.26 billion. During the same period in the previous year, the firm posted $3.38 earnings per share. The business's revenue was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current year.
Laboratory Co. of America Dividend Announcement
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. The ex-dividend date is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.26%. Laboratory Co. of America's dividend payout ratio is currently 55.71%.
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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