Pathstone Holdings LLC Purchases 5,637 Shares of Laboratory Co. of America Holdings (NYSE:LH)

Pathstone Holdings LLC grew its holdings in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 124.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,165 shares of the medical research company's stock after purchasing an additional 5,637 shares during the period. Pathstone Holdings LLC's holdings in Laboratory Co. of America were worth $2,272,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LH. Horizon Bancorp Inc. IN bought a new stake in shares of Laboratory Co. of America during the 3rd quarter worth about $29,000. Pathway Financial Advisers LLC acquired a new position in Laboratory Co. of America in the first quarter worth about $30,000. Industrial Alliance Investment Management Inc. bought a new position in Laboratory Co. of America during the second quarter worth about $27,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America during the second quarter valued at approximately $32,000. Finally, Riverview Trust Co grew its stake in shares of Laboratory Co. of America by 172.6% in the 3rd quarter. Riverview Trust Co now owns 169 shares of the medical research company's stock valued at $38,000 after purchasing an additional 107 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $230.00, for a total value of $230,000.00. Following the sale, the director now owns 13,722 shares of the company's stock, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Amy B. Summy sold 3,672 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the transaction, the chief marketing officer now directly owns 4,318 shares of the company's stock, valued at $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,861 shares of company stock valued at $2,853,533. 0.85% of the stock is currently owned by corporate insiders.

Laboratory Co. of America Trading Down 1.1 %

NYSE LH opened at $238.73 on Wednesday. Laboratory Co. of America Holdings has a 12 month low of $191.97 and a 12 month high of $247.99. The stock has a 50-day simple moving average of $226.67 and a 200 day simple moving average of $217.61. 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 market capitalization of $19.97 billion, a PE ratio of 46.18, a P/E/G ratio of 1.99 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm earned $3.38 EPS. Laboratory Co. of America's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts forecast that Laboratory Co. of America Holdings will post 14.53 EPS for the current 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 paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.21%. Laboratory Co. of America's payout ratio is 55.71%.

Analyst Ratings Changes

A number of research firms have commented on LH. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. Jefferies Financial Group raised their price target on Laboratory Co. of America from $245.00 to $265.00 and gave the company a "buy" rating in a report on Monday, September 23rd. 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 note on Friday, August 2nd. Barclays raised their target price on Laboratory Co. of America from $234.00 to $249.00 and gave the company an "equal weight" rating in a research note on Friday, October 25th. Finally, UBS Group increased their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Five 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $255.92.

Laboratory Co. of America 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.