XTX Topco Ltd Sells 3,862 Shares of Laboratory Co. of America Holdings (NYSE:LH)

XTX Topco Ltd decreased its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 61.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,420 shares of the medical research company's stock after selling 3,862 shares during the period. XTX Topco Ltd's holdings in Laboratory Co. of America were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Zacks Investment Management lifted its stake in shares of Laboratory Co. of America by 13.1% during the third quarter. Zacks Investment Management now owns 87,703 shares of the medical research company's stock valued at $19,600,000 after buying an additional 10,125 shares during the period. National Bank of Canada FI lifted its stake in shares of Laboratory Co. of America by 1.3% during the 3rd quarter. National Bank of Canada FI now owns 9,757 shares of the medical research company's stock worth $2,180,000 after purchasing an additional 121 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Laboratory Co. of America by 15.8% during the third quarter. EP Wealth Advisors LLC now owns 1,420 shares of the medical research company's stock worth $317,000 after purchasing an additional 194 shares during the last quarter. Worldquant Millennium Advisors LLC grew its position in shares of Laboratory Co. of America by 8.5% in the third quarter. Worldquant Millennium Advisors LLC now owns 5,362 shares of the medical research company's stock valued at $1,198,000 after purchasing an additional 419 shares during the period. Finally, Wahed Invest LLC increased its stake in Laboratory Co. of America by 11.4% in the third quarter. Wahed Invest LLC now owns 2,039 shares of the medical research company's stock valued at $456,000 after purchasing an additional 209 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Laboratory Co. of America Trading Up 0.1 %

Shares of Laboratory Co. of America stock traded up $0.17 on Friday, reaching $232.01. 318,499 shares of the company were exchanged, compared to its average volume of 660,595. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66. Laboratory Co. of America Holdings has a fifty-two week low of $191.97 and a fifty-two week high of $247.99. The firm has a market capitalization of $19.41 billion, a price-to-earnings ratio of 44.88, a price-to-earnings-growth ratio of 1.89 and a beta of 1.05. The stock has a fifty day moving average price of $230.72 and a 200-day moving average price of $220.19.

Laboratory Co. of America (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical research company reported $3.50 EPS for the quarter, beating analysts' consensus estimates of $3.48 by $0.02. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.26 billion. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.38 earnings per share. On average, analysts expect that Laboratory Co. of America Holdings will post 14.52 EPS for the current year.

Laboratory Co. of America Announces Dividend

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

Insider Activity

In other Laboratory Co. of America news, EVP Glenn A. Eisenberg sold 11,711 shares of the stock in a transaction on Monday, December 2nd. The shares were 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 of the company's stock, valued at $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the transaction, the director now owns 13,722 shares in the company, valued at approximately $3,156,060. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,572 shares of company stock worth $5,910,209 in the last 90 days. Company insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on LH shares. Jefferies Financial Group restated a "buy" rating and issued a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a report on Tuesday. HSBC upgraded Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Wednesday, October 30th. Piper Sandler raised their price target on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, October 28th. Evercore ISI reduced their price objective on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 24th. Finally, Hsbc Global Res upgraded shares of Laboratory Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $257.67.

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.