Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB raised its position in Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 34.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,847 shares of the medical research company's stock after purchasing an additional 6,651 shares during the period. Wilmington Savings Fund Society FSB's holdings in Laboratory Co. of America were worth $5,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. World Investment Advisors LLC acquired a new position in Laboratory Co. of America in the 3rd quarter valued at about $5,955,000. Sanctuary Advisors LLC grew its position in Laboratory Co. of America by 17.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 13,456 shares of the medical research company's stock valued at $3,225,000 after acquiring an additional 2,026 shares in the last quarter. Te Ahumairangi Investment Management Ltd grew its position in Laboratory Co. of America by 9.0% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 25,597 shares of the medical research company's stock valued at $5,688,000 after acquiring an additional 2,124 shares in the last quarter. Virtu Financial LLC acquired a new position in Laboratory Co. of America in the 3rd quarter valued at about $604,000. Finally, Rehmann Capital Advisory Group grew its position in Laboratory Co. of America by 1.9% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,844 shares of the medical research company's stock valued at $637,000 after acquiring an additional 53 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Price Performance

LH traded up $0.74 during trading on Friday, reaching $232.58. 137,233 shares of the stock were exchanged, compared to its average volume of 659,803. The business's 50 day moving average price is $230.40 and its two-hundred day moving average price is $219.97. 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 company has a market capitalization of $19.45 billion, a price-to-earnings ratio of 44.93, a P/E/G 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.

Laboratory Co. of America (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $3.38 earnings per share. The business's revenue was up 7.4% on a year-over-year basis. As a group, equities research analysts anticipate that Laboratory Co. of America Holdings will post 14.52 earnings per share 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 given 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 1.24%. Laboratory Co. of America's dividend payout ratio (DPR) is presently 55.71%.

Insider Buying and Selling

In other Laboratory Co. of America news, CMO Amy B. Summy sold 3,672 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $238.91, for a total transaction of $877,277.52. Following the completion of the sale, the chief marketing officer now directly owns 4,318 shares in the company, valued at $1,031,613.38. This represents a 45.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 6,189 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $243.47, for a total value of $1,506,835.83. Following the sale, the chief executive officer now owns 87,441 shares of the company's stock, valued at $21,289,260.27. This represents a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock worth $5,910,209. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, September 24th. Piper Sandler boosted their target price 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. StockNews.com cut Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, October 25th. Bank of America lifted their price target on Laboratory Co. of America from $262.00 to $271.00 and gave the stock a "buy" rating in a research report on Friday. Finally, HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Laboratory Co. of America presently has an average rating of "Moderate Buy" and a consensus target price of $257.67.

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.