Swedbank AB lifted its stake in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 12.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,884 shares of the medical research company's stock after acquiring an additional 6,089 shares during the period. Swedbank AB owned 0.07% of Laboratory Co. of America worth $12,712,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cerity Partners LLC increased its position in shares of Laboratory Co. of America by 12.1% in the third quarter. Cerity Partners LLC now owns 81,694 shares of the medical research company's stock worth $18,257,000 after acquiring an additional 8,810 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Laboratory Co. of America by 5.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,462 shares of the medical research company's stock worth $550,000 after purchasing an additional 135 shares during the last quarter. Raymond James Trust N.A. raised its holdings in Laboratory Co. of America by 3.4% during the third quarter. Raymond James Trust N.A. now owns 10,387 shares of the medical research company's stock valued at $2,321,000 after buying an additional 337 shares in the last quarter. Lathrop Investment Management Corp lifted its position in shares of Laboratory Co. of America by 1.6% in the third quarter. Lathrop Investment Management Corp now owns 67,132 shares of the medical research company's stock worth $15,003,000 after buying an additional 1,033 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Laboratory Co. of America by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 549,386 shares of the medical research company's stock worth $122,777,000 after acquiring an additional 12,145 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.
Laboratory Co. of America Stock Performance
NYSE LH traded up $2.24 during trading on Wednesday, reaching $240.97. 149,171 shares of the company's stock were exchanged, compared to its average volume of 668,983. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The business has a 50 day moving average price of $226.67 and a 200-day moving average price of $217.61. 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 stock has a market capitalization of $20.15 billion, a P/E ratio of 46.18, a PEG ratio of 1.99 and a beta of 1.05.
Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.02. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.38 EPS. Sell-side analysts forecast 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 company also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.20%. Laboratory Co. of America's payout ratio is 55.71%.
Insider Transactions at Laboratory Co. of America
In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 1,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $239.42, for a total value of $239,420.00. Following the completion of the sale, the executive vice president now directly owns 2,670 shares of the company's stock, valued at approximately $639,251.40. This represents a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Amy B. Summy sold 3,672 shares of Laboratory Co. of America stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $238.91, for a total value of $877,277.52. Following the sale, the chief marketing officer now owns 4,318 shares in the company, valued at $1,031,613.38. The trade was a 45.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,861 shares of company stock valued at $2,853,533. Corporate insiders own 0.85% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on LH. Truist Financial raised their price target on Laboratory Co. of America from $255.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price objective 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. Hsbc Global Res upgraded Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Bank of America boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Laboratory Co. of America from $220.00 to $230.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $255.92.
Check Out Our Latest Stock Report on Laboratory Co. of America
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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