Tidal Investments LLC Has $800,000 Stake in Laboratory Co. of America Holdings (NYSE:LH)

Tidal Investments LLC cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 45.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,578 shares of the medical research company's stock after selling 2,949 shares during the period. Tidal Investments LLC's holdings in Laboratory Co. of America were worth $800,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Industrial Alliance Investment Management Inc. acquired a new stake in Laboratory Co. of America in the second quarter worth approximately $27,000. SouthState Corp acquired a new position in Laboratory Co. of America during the third quarter worth about $28,000. Horizon Bancorp Inc. IN acquired a new position in Laboratory Co. of America during the third quarter worth about $29,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America in the 2nd quarter valued at about $32,000. Finally, Family Firm Inc. bought a new position in shares of Laboratory Co. of America during the 2nd quarter valued at about $37,000. 95.94% of the stock is owned by institutional investors.

Insider Transactions at Laboratory Co. of America

In related news, Director Kerrii B. Anderson sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, October 24th. The shares were 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 approximately $3,156,060. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Glenn A. Eisenberg sold 11,711 shares of Laboratory Co. of America stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the transaction, the executive vice president now directly owns 31,289 shares in the company, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,572 shares of company stock valued at $5,910,209. Corporate insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on LH shares. Barclays increased their target price on shares of 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. HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Robert W. Baird lifted 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. Jefferies Financial Group reaffirmed a "buy" rating and set a $275.00 price objective (up from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday, December 10th. Finally, Hsbc Global Res raised shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Laboratory Co. of America presently has an average rating of "Moderate Buy" and an average target price of $258.62.

Laboratory Co. of America Stock Performance

Shares of LH traded up $1.64 during mid-day trading on Friday, hitting $228.61. The company's stock had a trading volume of 996,890 shares, compared to its average volume of 659,601. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $247.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 1.44. The firm has a market capitalization of $19.12 billion, a PE ratio of 44.22, a price-to-earnings-growth ratio of 1.91 and a beta of 1.05. The stock's 50-day moving average is $232.13 and its two-hundred day moving average is $221.55.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.26 billion. Laboratory Co. of America had a return on equity of 15.27% and a net margin of 3.43%. Laboratory Co. of America's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $3.38 EPS. As a group, sell-side analysts anticipate that Laboratory Co. of America Holdings will post 14.52 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th were given a $0.72 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.26%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 55.71%.

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.