42,083 Shares in Laboratory Co. of America Holdings (NYSE:LH) Bought by Toronto Dominion Bank

Toronto Dominion Bank bought a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,083 shares of the medical research company's stock, valued at approximately $9,405,000. Toronto Dominion Bank owned approximately 0.05% of Laboratory Co. of America at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Industrial Alliance Investment Management Inc. purchased a new position in Laboratory Co. of America in the second quarter valued at $27,000. SouthState Corp acquired a new position in Laboratory Co. of America in the 3rd quarter worth about $28,000. Horizon Bancorp Inc. IN purchased a new position in Laboratory Co. of America during the third quarter worth approximately $29,000. Innealta Capital LLC acquired a new stake in Laboratory Co. of America in the second quarter valued at approximately $32,000. Finally, Family Firm Inc. purchased a new stake in shares of Laboratory Co. of America in the second quarter valued at approximately $37,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 0.1 %

NYSE:LH traded up $0.17 on Friday, hitting $232.01. The stock had a trading volume of 318,499 shares, compared to its average volume of 660,595. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.89 and a beta of 1.05. Laboratory Co. of America Holdings has a 1-year low of $191.97 and a 1-year high of $247.99. 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 company has a fifty day moving average price of $230.72 and a two-hundred day moving average price of $220.19.

Laboratory Co. of America (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating the consensus estimate of $3.48 by $0.02. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.38 EPS. Equities research analysts expect that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, November 26th. Laboratory Co. of America's dividend payout ratio (DPR) is 55.71%.

Insider Activity

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 shares were sold at an average price of $230.00, for a total value 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 SEC, which is accessible through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total value of $2,815,675.73. Following the sale, the executive vice president now directly owns 31,289 shares in the company, valued at $7,522,814.27. This represents a 27.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,572 shares of company stock valued at $5,910,209. Company insiders own 0.85% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday. HSBC upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Piper Sandler lifted their price objective on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a report on Monday, October 28th. Robert W. Baird raised their target price on Laboratory Co. of America from $282.00 to $289.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. Finally, Barclays boosted their price target on Laboratory Co. of America from $234.00 to $249.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. Five investment 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. Based on data from MarketBeat.com, Laboratory Co. of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.67.

About Laboratory Co. of America

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.